05725oam 22013214 450 991097050460332120250426110124.0978661382030397814623891481462389147978145275518214527551839781282391871128239187997814519094181451909411(CKB)3360000000443071(EBL)3014425(SSID)ssj0000942122(PQKBManifestationID)11582405(PQKBTitleCode)TC0000942122(PQKBWorkID)10972785(PQKB)11012256(OCoLC)694141072(IMF)WPIEE2006228(MiAaPQ)EBC3014425(IMF)WPIEA2006228WPIEA2006228(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 Laurens1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (39 p.)IMF Working Papers"October 2006."9781451864885 1451864884 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 countriesBankingimfBanks and BankingimfBanks and bankingimfBanksimfCentral bank autonomyimfCentral bank legislationimfCentral Banks and Their PoliciesimfCentral banksimfDepository InstitutionsimfEmerging and frontier financial marketsimfFinanceimfFinance: GeneralimfFinancial marketsimfFinancial services industryimfGeneral Financial Markets: General (includes Measurement and Data)imfLegal support in revenue administrationimfMicro Finance InstitutionsimfMonetary PolicyimfMortgagesimfPublic finance & taxationimfPublic FinanceimfRevenue administrationimfRevenueimfTaxation, Subsidies, and Revenue: GeneralimfMexicoimfBanks and banking, CentralLaw and legislationBanks and banking, CentralLaw and legislationMonetary policyMonetary policyBankingBanks and BankingBanks and bankingBanksCentral bank autonomyCentral bank legislationCentral Banks and Their PoliciesCentral banksDepository InstitutionsEmerging and frontier financial marketsFinanceFinance: GeneralFinancial marketsFinancial services industryGeneral Financial Markets: General (includes Measurement and Data)Legal support in revenue administrationMicro Finance InstitutionsMonetary PolicyMortgagesPublic finance & taxationPublic FinanceRevenue administrationRevenueTaxation, Subsidies, and Revenue: GeneralSegalotto Jean-François1815657Arnone Marco120033Laurens Bernard1815658International Monetary Fund.Monetary and Capital Markets Dept.DcWaIMFBOOK9910970504603321Measures of Central Bank Autonomy4371123UNINA