Zaïre's Hyperinflation, 1990-96

This paper reviews Zaïre's experience with hyperinflation during 1990-96 and develops an illustrative model based on a money demand function that includes government revenue as a determinant. Government revenue is itself subject to the "Tanzi effect," in which inflation tends to lower revenue collections. The model is estimated over the 1990-96 period, and simulations are also presented. The paper concludes with a number of observations and policy recommendations for stopping hyperinflation in Zaïre.
Publication date: April 1997
ISBN: 9781451846935
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Inflation , Inflation , money stock , money supply , central bank , monetary financing

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