05452oam 22012854 450 991081017010332120240402050153.01-4623-7396-81-4527-8944-41-282-84073-897866128407391-4518-6979-7(CKB)3390000000010376(EBL)1607854(Au-PeEL)EBL1607854(CaPaEBR)ebr10368700(CaONFJC)MIL284073(OCoLC)870245283(IMF)WPIEE2008119(MiAaPQ)EBC1607854(EXLCZ)99339000000001037620020129d2008 uf 0engur|n|---|||||rdacontentrdamediardacarrierCentral Bank Independence and Transparency : Evolution and Effectiveness /Christopher Crowe, Ellen Meade1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (30 p.)IMF Working PapersIMF working paper ;WP/08/119Description based upon print version of record.Includes bibliographical references.Contents; I. Introduction; II. Measures of Central Bank Independence; Text Tables; 1. Mean Level (Later Period) and Change in CBI; III. Measures of Central Bank Transparency; 2. Correlates with Change in CBI Index, D.CBI; 3. Mean Level (Later Period) and Change in Transparency; IV. Effects of Central Bank Independence; 4. Correlates with Transparency Score, TRANS1; 5. CBI and Inflation (INF): OLS Regression Results; 6. D.CBI and Inlfation (D.INF) IV Regression Results; V. Effects of Transparency; 7. Transparency and Use of Private Information; VI. ConclusionsAppendix: Data Sources and Variables UsedAppendix Tables; A1. Country Samples; A2. Construction and Coding of Transparency Measure; ReferencesThis 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.IMF Working Papers; Working Paper ;No. 2008/119Banks and banking, CentralAutonomyMonetary policyBanks and BankingimfForeign ExchangeimfInflationimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfFinancial Markets and the MacroeconomyimfMonetary PolicyimfCentral Banks and Their PoliciesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfPrice LevelimfDeflationimfBankingimfMacroeconomicsimfCurrencyimfForeign exchangeimfCentral bank autonomyimfExchange rate arrangementsimfCentral bank transparencyimfCentral banksimfPricesimfExchange rate flexibilityimfBanks and bankingimfUnited KingdomimfBanks and banking, Central.Autonomy.Monetary policy.Banks and BankingForeign ExchangeInflationMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsFinancial Markets and the MacroeconomyMonetary PolicyCentral Banks and Their PoliciesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesPrice LevelDeflationBankingMacroeconomicsCurrencyForeign exchangeCentral bank autonomyExchange rate arrangementsCentral bank transparencyCentral banksPricesExchange rate flexibilityBanks and banking332.11Crowe Christopher868737Meade Ellen1594414DcWaIMFBOOK9910810170103321Central Bank Independence and Transparency3914948UNINA