Table 7.1 Open in new tab Incidence of...

	1974–2017	1974–1984	1985–1998	1999–2007	2008–2017
Direct controls	70	3.24	57	10.36	13	1.73	0	0.00	0	0.00
ER fix	104	4.81	83	15.09	21	2.79	0	0.00	0	0.00
ER target	501	23.17	119	21.64	210	27.93	106	24.48	66	15.46
MT	75	3.47	45	8.18	30	3.99	0	0.00	0	0.00
IT	519	24.01	0	0.00	67	8.91	191	44.11	261	61.12
Mixed targets	97	4.49	24	4.36	56	7.45	13	3.00	4	0.94
UD	232	10.73	128	23.27	90	11.97	6	1.39	8	1.87
LSD	552	25.53	94	17.09	265	35.24	115	26.56	78	18.27
WSD	12	0.56	0	0.00	0	0.00	2	0.46	10	2.34

	1974–2017	1974–1984	1985–1998	1999–2007	2008–2017
Direct controls	70	3.24	57	10.36	13	1.73	0	0.00	0	0.00
ER fix	104	4.81	83	15.09	21	2.79	0	0.00	0	0.00
ER target	501	23.17	119	21.64	210	27.93	106	24.48	66	15.46
MT	75	3.47	45	8.18	30	3.99	0	0.00	0	0.00
IT	519	24.01	0	0.00	67	8.91	191	44.11	261	61.12
Mixed targets	97	4.49	24	4.36	56	7.45	13	3.00	4	0.94
UD	232	10.73	128	23.27	90	11.97	6	1.39	8	1.87
LSD	552	25.53	94	17.09	265	35.24	115	26.56	78	18.27
WSD	12	0.56	0	0.00	0	0.00	2	0.46	10	2.34

Table 7.1

Incidence of frameworks aggregated by target variable and period, full sample

	1974–2017		1974–1984		1985–1998		1999–2007		2008–2017
	No.	%	No.	%	No.	%	No.	%	No.	%
Direct controls	70	3.24	57	10.36	13	1.73	0	0.00	0	0.00
ER fix	104	4.81	83	15.09	21	2.79	0	0.00	0	0.00
ER target	501	23.17	119	21.64	210	27.93	106	24.48	66	15.46
MT	75	3.47	45	8.18	30	3.99	0	0.00	0	0.00
IT	519	24.01	0	0.00	67	8.91	191	44.11	261	61.12
Mixed targets	97	4.49	24	4.36	56	7.45	13	3.00	4	0.94
UD	232	10.73	128	23.27	90	11.97	6	1.39	8	1.87
LSD	552	25.53	94	17.09	265	35.24	115	26.56	78	18.27
WSD	12	0.56	0	0.00	0	0.00	2	0.46	10	2.34

	1974–2017		1974–1984		1985–1998		1999–2007		2008–2017
	No.	%	No.	%	No.	%	No.	%	No.	%
Direct controls	70	3.24	57	10.36	13	1.73	0	0.00	0	0.00
ER fix	104	4.81	83	15.09	21	2.79	0	0.00	0	0.00
ER target	501	23.17	119	21.64	210	27.93	106	24.48	66	15.46
MT	75	3.47	45	8.18	30	3.99	0	0.00	0	0.00
IT	519	24.01	0	0.00	67	8.91	191	44.11	261	61.12
Mixed targets	97	4.49	24	4.36	56	7.45	13	3.00	4	0.94
UD	232	10.73	128	23.27	90	11.97	6	1.39	8	1.87
LSD	552	25.53	94	17.09	265	35.24	115	26.56	78	18.27
WSD	12	0.56	0	0.00	0	0.00	2	0.46	10	2.34

Source: Author’s calculations.

Note: Percentages are of the total minus the sum of the Xs, which are cases where the country does not (yet) exist as a separate entity, and the UASCs and the CUs, where the country has no specific national monetary policy framework.

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