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Financial Openness and Inflation: Recent Evidence

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dc.contributor.authorGuender, A. V.
dc.contributor.authorMcHugh-Smith, H.
dc.date.accessioned2025-03-27T04:38:40Z
dc.date.available2025-03-27T04:38:40Z
dc.date.issued2023-01
dc.description.abstractIn a model comprising a bank and goods-producing firm, this paper advances the hypothesis that financial openness should be inversely related to the rate of inflation. Our empirical analysis reveals a strong and robust inverse link between financial openness and CPI inflation in over 100 countries over the 1997-2016 period, adding weight to the argument that inflation in financially open economies is indeed lower. This result obtains for OECD countries as well as non-OECD countries. Trade openness in contrast bears no systematic relationship to inflation.
dc.identifier.issn2206-0332
dc.identifier.urihttps://hdl.handle.net/1885/733743659
dc.language.isoen_AU
dc.provenanceThe publisher permission to make it open access was granted in November 2024
dc.publisherCrawford School of Public Policy, The Australian National University
dc.relation.ispartofseriesCAMA Working Paper Series
dc.rightsAuthor(s) retain copyright
dc.sourceCentre for Applied Macroeconomic Analysis Working Papers
dc.source.urihttps://crawford.anu.edu.au
dc.titleFinancial Openness and Inflation: Recent Evidence
dc.typeWorking/Technical Paper
dcterms.accessRightsOpen Access
dspace.entity.typePublication
local.bibliographicCitation.issueFeb-23
local.type.statusPublished Version

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