Inflation targeting has been used in many other countries with great success. With the adoption of this approach to monetary policy in South Africa, the authorities attempted to create greater certainty about what monetary policy wants to achieve. No one is left in the dark any longer.
6  See J. Temple (2001): “Growth effects of education and social capital in the OECD countries”. OECD Economic Studies, No 33, pp. 57-101. 7  For a further extension of this topic see European Commission (2004), “The link between product market reforms and productivity: direct and indirect impacts”, the EU Economy: 2004 Review.