Inflation and growth in South Africa
研究了南非通胀与增长的长期负相关关系，发现短期增长高于趋势需要加速通胀，但长期看放弃通胀目标会适得其反。
This paper studies the relationship between inflation and growth in South Africa. Two main issues are addressed: do tests of the South African data support the findings of cross-section studies that inflation has a negative effect on growth over the longer term? and, can higher growth be gained at the cost of higher inflation in the short run? The findings are that inflation drags down growth in South Africa over the longer term, and that, in the short run, growth above its trend requires accelerating inflation. Thus, for growth to be pulled substantially above its present low trend, inflation targeting in South Africa would have to be abandoned. However, this would be counterproductive over the longer term, once the negative relationship between inflation and growth manifests itself. Copyright 2006, Oxford University Press.