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Central Bank Independence: The Case of North African Central Banks

Author

Listed:
  • Amina Haoudi

    (Faculty of Law, Economics and Social sciences, University Sidi Mohamed Ben Abdellah, Morocco)

  • Ali Bennagem Touati

    (Faculty of Law, Economics and Social sciences, University Sidi Mohamed Ben Abdellah, Morocco)

Abstract

The independence of Central Banks is still considered to be a credibility factor in ensuring price stability. Thus, many central banks in transition countries have undergone a change in their statutes in order to achieve greater independence from governments. In this vein, within a decade, North African Central Banks have put in place a new institutional framework for their monetary policy. In this article, we will attempt to assess and measure the legal (de jure) and real (de facto) independence of these Central Banks (Morocco, Algeria, Libya, Tunisia, Egypt).

Suggested Citation

  • Amina Haoudi & Ali Bennagem Touati, 2023. "Central Bank Independence: The Case of North African Central Banks," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 12(3), pages 61-85.
    • Handle: RePEc:cbk:journl:v:12:y:2023:i:3:p:61-85
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    More about this item

    Keywords

    Central Bank Independence; monetary policy; North Africa.;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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