財金系擬於 5/16(五) 邀請 Prof. 黃河泉，至本所進行專題演講，相關訊息如下：

時間: 5/16(五) 10:30-12:00

地點: 管理學院一號館4F 405室

演講人: Prof. 黃河泉

講題: Inflation Targeting and Financial Development

Abstract:

This paper, by synthesizing the inflation targeting (IT)-inflation and inflation-finance linkages,

explores whether the adoption of IT exerts any significant impacts on financial development. By

using data on 74 countries over the 1980–2010 period, the empirical results strongly indicate that

adopting IT is associated with higher development of banks, stock markets, insurance sectors, and

bond markets in the developing but not in the industrial economies. Moreover, we show that the

implementation of IT results in a more market-oriented financial system in both developed and

developing countries, and leads to a more steady process of financial development in the developing

subsample. Finally, we also offer a fresh evidence revealing that countries with a lower, instead

of a higher, probability of adopting IT are exactly those benefit most from employing such a

monetary framework.