Central Bank Independence: Monetary Policies in Selected Jurisdictions (II) - The Dynamics of Central Bank Independence in a Developing Economy
14 Pages Posted: 31 Mar 2013
Date Written: March 30, 2013
Abstract
Through an investigation of selected jurisdictions, this paper aims to contribute to the extant literature in investigating the relationship between central bank independence and price stability, as well as how such a relationship varies between different jurisdictions – even though it is widely argued that political and legislative interference is often contributory to price instability.
This paper employs times series data to study the dynamics of central bank independence. It also employs bivariate cointegration methodology to examine the long-term relationship between inflation index and the different measures of financial development.
Keywords: inflation, price stability, central bank independence, monetary policy, financial stability
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Central Bank Independence: An Update of Theory and Evidence
By Helge Berger, Jakob De Haan, ...
-
Why Does Inflation Differ Across Countries?
By Marta Campillo and Jeffrey A. Miron
-
Central Bank Credibility: Why Do We Care? How Do We Build it?
-
Central Bank Independence and Disinflationary Credibility: A Missing Link?
-
Central Bank Autonomy: Lessons from Global Trends
By Marco Arnone, Bernard Laurens, ...
-
By Luis I Jácome and Francisco Vázquez
-
Central Bank Independence and Monetary Policymaking Institutions - Past Present and Future
-
By Tonny Lybek
-
The Measurement of Central Bank Autonomy: Survey of Models, Indicators, and Empirical Evidence
By Marco Arnone, Bernard Laurens, ...