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Measures of central bank autonomy : empirical evidence for OECD, developing, and emerging market economies /

This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, and emerging market economies. For a smaller set of countries, the paper presents a rec...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Arnone, Marco (Autor), Laurens, Bernard (Autor), Segalotto, Jean-François (Autor)
Autor Corporativo: International Monetary Fund. Monetary and Capital Markets Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington D.C.] : International Monetary Fund., ©2006.
Colección:IMF working paper ; WP/06/228.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 0 |a Measures of central bank autonomy :  |b empirical evidence for OECD, developing, and emerging market economies /  |c Marco Arnone, Bernard J. Laurens, and Jean-François Segalotto. 
260 |a [Washington D.C.] :  |b International Monetary Fund.,  |c ©2006. 
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520 |a This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, and emerging market economies. For a smaller set of countries, the paper presents a reconstruction of the GMT index based on Cukierman (1992) and assesses changes in CB autonomy between 1992 and 2003. The results point to a significant increase in CB autonomy, in particular for developing countries. In most cases, this improvement has involved a three-stage process: an initial stage in which the political foundations for CB autonomy are laid; a second stage in which operational autonomy develops; and a final stage in which CBs gain further political autonomy in terms of policy formulation and the appointment of senior management. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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505 0 |a Contents -- I. INTRODUCTION AND DATA -- II. UPDATED INDICATORS OF CENTRAL BANK AUTONOMY IN SELECTED OECD COUNTRIES -- III. AUTONOMY INDICATORS FOR EMERGING MARKETS AND DEVELOPING COUNTRIES -- IV. PROGRESS TOWARDS AUTONOMY IN EMERGING MARKETS AND DEVELOPING COUNTRIES -- V. OVERVIEW OF INDICATORS AND STANDARDIZED RESULTS -- VI. CONCLUDING REMARKS -- LEGAL SOURCES CONSULTED -- CUKIERMAN VARIABLES VERSUS GMT VARIABLES -- REFERENCES 
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650 0 |a Banks and banking, Central  |x Law and legislation  |z Developing countries. 
650 0 |a Banks and banking, Central  |x Law and legislation  |z OECD countries. 
650 0 |a Monetary policy  |z Developing countries. 
650 0 |a Monetary policy  |z OECD countries. 
650 6 |a Politique monétaire  |z Pays de l'Organisation de coopération et de développement économiques. 
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650 7 |a Monetary policy  |2 fast 
651 7 |a Developing countries  |2 fast 
651 7 |a OECD countries  |2 fast 
700 1 |a Laurens, Bernard,  |e author. 
700 1 |a Segalotto, Jean-François,  |e author. 
710 2 |a International Monetary Fund.  |b Monetary and Capital Markets Department. 
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776 0 8 |i Print version:  |a Arnone, Marco.  |t Measures of central bank autonomy.  |d [Washington D.C.] : International Monetary Fund, ©2006  |w (OCoLC)105171900 
830 0 |a IMF working paper ;  |v WP/06/228. 
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