05506oam 22012254 450 991078852030332120230829002207.01-4623-8914-71-4527-5518-31-282-39187-997866138203031-4519-0941-1(CKB)3360000000443071(EBL)3014425(SSID)ssj0000942122(PQKBManifestationID)11582405(PQKBTitleCode)TC0000942122(PQKBWorkID)10972785(PQKB)11012256(OCoLC)694141072(MiAaPQ)EBC3014425(IMF)WPIEE2006228(EXLCZ)99336000000044307120020129d2006 uf 0engur|n|---|||||txtccrMeasures of Central Bank Autonomy : Empirical Evidence for OECD, Developing, and Emerging Market Economies /Jean-François Segalotto, Marco Arnone, Bernard LaurensWashington, D.C. :International Monetary Fund,2006.1 online resource (39 p.)IMF Working Papers"October 2006."1-4518-6488-4 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/228Banks and banking, CentralLaw and legislationDeveloping countriesBanks and banking, CentralLaw and legislationOECD countriesMonetary policyDeveloping countriesMonetary policyOECD countriesBanks and BankingimfFinance: GeneralimfPublic FinanceimfCentral Banks and Their PoliciesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfGeneral Financial Markets: General (includes Measurement and Data)imfTaxation, Subsidies, and Revenue: GeneralimfMonetary PolicyimfBankingimfFinanceimfPublic finance & taxationimfEmerging and frontier financial marketsimfCentral bank autonomyimfCentral bank legislationimfLegal support in revenue administrationimfFinancial marketsimfCentral banksimfRevenue administrationimfBanks and bankingimfFinancial services industryimfRevenueimfMexicoimfBanks and banking, CentralLaw and legislationBanks and banking, CentralLaw and legislationMonetary policyMonetary policyBanks and BankingFinance: GeneralPublic FinanceCentral Banks and Their PoliciesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesGeneral Financial Markets: General (includes Measurement and Data)Taxation, Subsidies, and Revenue: GeneralMonetary PolicyBankingFinancePublic finance & taxationEmerging and frontier financial marketsCentral bank autonomyCentral bank legislationLegal support in revenue administrationFinancial marketsCentral banksRevenue administrationBanks and bankingFinancial services industryRevenueSegalotto Jean-François1462076Arnone Marco120033Laurens Bernard1462077International Monetary Fund.Monetary and Capital Markets Dept.DcWaIMFBOOK9910788520303321Measures of Central Bank Autonomy3670926UNINA