Central Bank Autonomy : Lessons from Global Trends /
We calculate indexes of central bank autonomy (CBA) for 163 central banks as of end-2003, and comparable indexes for a subgroup of 68 central banks as of the end of the 1980s. The results confirm strong improvements in both economic and political CBA over the past couple of decades, although more pr...
| 主要作者: | |
|---|---|
| 其他作者: | , , |
| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2007.
|
| 叢編: | IMF Working Papers; Working Paper ;
No. 2007/088 |
| 在線閱讀: | Full text available on IMF |
| 總結: | We calculate indexes of central bank autonomy (CBA) for 163 central banks as of end-2003, and comparable indexes for a subgroup of 68 central banks as of the end of the 1980s. The results confirm strong improvements in both economic and political CBA over the past couple of decades, although more progress is needed to boost political autonomy of the central banks in emerging market and developing countries. Our analysis confirms that greater CBA has on average helped to maintain low inflation levels. The paper identifies four broad principles of central bank autonomy that have been shared by the majority of countries. Significant differences exist in the area of banking supervision where many central banks have retained a key role. Finally, we discuss the sequencing of reforms to separate the conduct of monetary and fiscal policies. |
|---|---|
| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| 實物描述: | 1 online resource (53 pages) |
| 格式: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| 訪問: | Electronic access restricted to authorized BRAC University faculty, staff and students |