Central Bank Independence and Transparency: Evolution and Effectiveness
This paper examines the current level of central bank independence (CBI) and transparency in a broad sample of countries using newly constructed measures, and looks at the evolution in both measures from an earlier time period. Increases in CBI have tended to occur in more democratic countries and i...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/119 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper examines the current level of central bank independence (CBI) and transparency in a broad sample of countries using newly constructed measures, and looks at the evolution in both measures from an earlier time period. Increases in CBI have tended to occur in more democratic countries and in countries with high levels of past inflation. More independent central banks in turn tend to be more transparent, while transparency is also positively correlated with measures of national institutional quality. Exploiting the time dimension of our data to eliminate country fixed effects and using instrumental variable estimation to overcome endogeneity concerns, we present evidence that greater CBI is associated with lower inflation. We also find that enhanced transparency practices are associated with the private sector making greater use of information provided by the central bank |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (28 p) |
| ISBN: | 1451869797 9781451869798 |
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| id | DE-604.BV048349933 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:28Z |
| indexdate | 2024-07-10T09:35:36Z |
| institution | BVB |
| isbn | 1451869797 9781451869798 |
| language | English |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Crowe, Christopher W. Verfasser aut Central Bank Independence and Transparency Evolution and Effectiveness Crowe, Christopher W Washington, D.C International Monetary Fund 2008 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/119 Includes bibliographical references This paper examines the current level of central bank independence (CBI) and transparency in a broad sample of countries using newly constructed measures, and looks at the evolution in both measures from an earlier time period. Increases in CBI have tended to occur in more democratic countries and in countries with high levels of past inflation. More independent central banks in turn tend to be more transparent, while transparency is also positively correlated with measures of national institutional quality. Exploiting the time dimension of our data to eliminate country fixed effects and using instrumental variable estimation to overcome endogeneity concerns, we present evidence that greater CBI is associated with lower inflation. We also find that enhanced transparency practices are associated with the private sector making greater use of information provided by the central bank Online-Ausg Autonomy Banks and banking, Central Monetary policy Electronic books Meade, Ellen E. Sonstige oth http://elibrary.imf.org/view/IMF001/09223-9781451869798/09223-9781451869798/09223-9781451869798.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Crowe, Christopher W. Central Bank Independence and Transparency Evolution and Effectiveness Autonomy Banks and banking, Central Monetary policy |
| title | Central Bank Independence and Transparency Evolution and Effectiveness |
| title_auth | Central Bank Independence and Transparency Evolution and Effectiveness |
| title_exact_search | Central Bank Independence and Transparency Evolution and Effectiveness |
| title_exact_search_txtP | Central Bank Independence and Transparency Evolution and Effectiveness |
| title_full | Central Bank Independence and Transparency Evolution and Effectiveness Crowe, Christopher W |
| title_fullStr | Central Bank Independence and Transparency Evolution and Effectiveness Crowe, Christopher W |
| title_full_unstemmed | Central Bank Independence and Transparency Evolution and Effectiveness Crowe, Christopher W |
| title_short | Central Bank Independence and Transparency |
| title_sort | central bank independence and transparency evolution and effectiveness |
| title_sub | Evolution and Effectiveness |
| topic | Autonomy Banks and banking, Central Monetary policy |
| topic_facet | Autonomy Banks and banking, Central Monetary policy |
| url | http://elibrary.imf.org/view/IMF001/09223-9781451869798/09223-9781451869798/09223-9781451869798.xml |
| work_keys_str_mv | AT crowechristopherw centralbankindependenceandtransparencyevolutionandeffectiveness AT meadeellene centralbankindependenceandtransparencyevolutionandeffectiveness |