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This volume assesses the current state of play for Middle East and North African countries, in the light of wider work on inflation targeting, and provides lessons from the evolution of monetary policy in Europe.

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PART I: ISSUES AND CHALLENGES Moving towards Domestic Monetary Anchors - are Financial Markets Ready in the Mediterranean Region?; T.Bracke Fiscal Policy and Macroeconomic Stability in Mediterranean Countries; M.Sturm & F.Gurtner Capital Mobility and the Optimal Monetary Policy Rule: a Tunisian Case Study; M.Sami Nabi & N.Diop Monetary Policy Transmission and Targeting Mechanisms in Six MENA Countries; S.Neaime Monetary Transmission Mechanisms: the Credit Versus the Interest Rate Channel; A.Boughrara & S.Ghazouani PART II: THE JOURNEY TOWARDS IT From Bretton Woods to Inflation Targeting: Financial Change and Monetary Policy Evolution in Europe; D.Cobham Monetary Policy in Turkey: the Reasons for Introducing Inflation Targeting and the Outcome; H.Ersel & F.Özatay The Evolution of Monetary Policy in Egypt and Steps Towards Inflation Targeting; R.Al-Mashat The Uncertain Journey towards Inflation Targeting in Tunisia; M.Boughzala & H.Moussa The Journey towards Inflation Targeting in Morocco; L.Achy & A.Boughrara

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´...serves as a good reference regarding the experience of inflation targeting in MENA countries and the way forward.´ - Middle East Development Journal

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