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Central Bank Independence and Growth: A Sensitivity Analysis

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  • Hafiz A. Akhand
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    Abstract

    In this paper, the Levine-Renelt robustness test is employed to examine the robustness of the empirical relationship between growth and various proxies for central bank independence. Experiments are made with a wide variety of the most comprehensive systematic measures of central bank independence currently available. The Levine-Renelt test implies that growth is not robustly correlated with central bank independence.

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    Bibliographic Info

    Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

    Volume (Year): 31 (1998)
    Issue (Month): 2 (May)
    Pages: 303-317

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    Handle: RePEc:cje:issued:v:31:y:1998:i:2:p:303-317

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    Cited by:
    1. Maneschiöld, Per-Ola, 2010. "Consumption in Urban China and Monetary Policy - Consumi nelle aree urbane della Cina e politica monetaria," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 63(3), pages 305-327.
    2. Haan, Jakob de & Kooi, Willem J., 2000. "Does central bank independence really matter?: New evidence for developing countries using a new indicator," Journal of Banking & Finance, Elsevier, vol. 24(4), pages 643-664, April.
    3. Bernard Laurens & Marco Arnone & Jean-François Segalotto, 2006. "The Measurement of Central Bank Autonomy," IMF Working Papers 06/227, International Monetary Fund.

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