Measures of Central Bank Autonomy : : Empirical Evidence for OECD, Developing, and Emerging Market Economies / / Jean-François Segalotto, Marco Arnone, Bernard Laurens

• Autore: Segalotto Jean-François
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (39 p.)
• Soggetto topico: 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; Banks and Banking; Finance: General; Public Finance; Central Banks and Their Policies; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; General Financial Markets: General (includes Measurement and Data); Taxation, Subsidies, and Revenue: General; Monetary Policy; Banking; Finance; Public finance & taxation; Emerging and frontier financial markets; Central bank autonomy; Central bank legislation; Legal support in revenue administration; Financial markets; Central banks; Revenue administration; Banks and banking; Financial services industry; Revenue
• Soggetto geografico: Mexico
• Altri autori: ArnoneMarco LaurensBernard
• Note generali: "October 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: 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.
• Titolo autorizzato: Measures of Central Bank Autonomy
• ISBN: 1-4623-8914-7; 1-4527-5518-3; 1-282-39187-9; 9786613820303; 1-4519-0941-1
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788520303321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/228