Credibility and monetary policy under inflation targeting

After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an important group of developing countries and represents a potential laboratory experiment in which the effects of an adoption of inflation targeting after more than a decade can be evaluated. Not enough is known about the consequences of inflation targeting credibility on both monetary policy and monetary policy transmission channels in developing countries that adopted inflation targeting. Emphasizing the role of transparency and the credibility of monetary policy as a performance criterion that motivate any country wishing to adopt an inflation targeting regime, this study leads to the fact that these two basic principles toward which a inflation targeting regime cannot be achieved without respect for certain pre namely institutional and technical condition

Hydrochemical and geoelectrical investigation to determine the origin and spatial distribution of the salinization of the unconfined Plio-Quaternary aquifer of Tabeditt, Southern Tunisia

The expansion of irrigated agriculture and the overexploitation of groundwater in the Tabeditt region lead to a serious deterioration of the chemical quality of water. The compilation of hydrogeological and geophysical studies is essential in order to assess the quality of the Plio-Quaternary waters and to determine the origin of the salinization of these waters. In this study, hydrochemical analyses were carried out on groundwater samples in the Tabeditt region. Hydrochemical data have shown that the salinity in this area could exceed 6 g/L. The interpretation of major ion analyses demonstrates that mineralization is controlled by natural processes. The mineralization process consists of the dissolu-tion of evaporite minerals, namely gypsum, anhydrite, and halite. The geoelectrical study is carried out to obtain information about the distribution and quality of water in the Plio-Quaternary. Interpreta-tion of the resistivity models show the presence of two main zones: the first, near Tabeditt Wadi, is characterized by low values, indicating the influence of salt water in the groundwater and the second, located on the right bank of Wadi Jmal, is characterized by variable resistivity values, generally high, indicating the lateral changes in lithological facies, and the presence of fresh water. In such an arid region suffering from scarcity and degradation (or depletion) of water resources, it is important to implement a master plan that keeps under control the number of wells both known and unknown ones taping these aquifers

Credibility and monetary policy under inflation targeting

After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an important group of developing countries and represents a potential laboratory experiment in which the effects of an adoption of inflation targeting after more than a decade can be evaluated. Not enough is known about the consequences of inflation targeting credibility on both monetary policy and monetary policy transmission channels in developing countries that adopted inflation targeting. Emphasizing the role of transparency and the credibility of monetary policy as a performance criterion that motivate any country wishing to adopt an inflation targeting regime, this study leads to the fact that these two basic principles toward which a inflation targeting regime cannot be achieved without respect for certain pre namely institutional and technical condition

Effect of Financial Liberalization on the Probability of Occurrence of Banking Crises

International audienceThis study examines the relationship between financial liberalization and the advent probability of banking crises because of institutional quality. We used a logit panel data for a sample of fifty developing countries during the period (1990-2014). The results show that there is a positive relationship between financial liberalization and banking crises and the strengthening of institutional quality overcomes the problem of banking crises