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Record Nr. |
UNINA9910822786803321 |
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Autore |
Segalotto Jean-François |
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Titolo |
Measures of Central Bank Autonomy : : Empirical Evidence for OECD, Developing, and Emerging Market Economies / / Jean-François Segalotto, Marco Arnone, Bernard Laurens |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-8914-7 |
1-4527-5518-3 |
1-282-39187-9 |
9786613820303 |
1-4519-0941-1 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (39 p.) |
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Collana |
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Altri autori (Persone) |
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ArnoneMarco |
LaurensBernard |
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Soggetti |
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Banks and banking, Central - Law and legislation - Developing countries |
Banks and banking, Central - Law and legislation - OECD countries |
Monetary policy - Developing countries |
Monetary policy - OECD countries |
Banking |
Banks and Banking |
Banks and banking |
Banks |
Central bank autonomy |
Central bank legislation |
Central Banks and Their Policies |
Central banks |
Depository Institutions |
Emerging and frontier financial markets |
Finance |
Finance: General |
Financial markets |
Financial services industry |
General Financial Markets: General (includes Measurement and Data) |
Legal support in revenue administration |
Micro Finance Institutions |
Monetary Policy |
Mortgages |
Public finance & taxation |
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Public Finance |
Revenue administration |
Revenue |
Taxation, Subsidies, and Revenue: General |
Mexico |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""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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Sommario/riassunto |
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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. |
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