Assessing Central Bank Independence in Developing Countries: Do Actions Speak Louder Than Words?
AbstractThe author's fiscal dominance hypothesis of central bank independence posits that the size of the government's deficit and the methods by which it is financed determine central bank independence in developing countries. He measures central bank independence by the extent to which a central bank neutralizes the effects of increased credit demands by the government on the money supply by reducing credit to the private sector. The author's estimates show that larger deficits and greater government reliance on the domestic banking system are associated with less central bank neutralization of increased government borrowing from the banking system. Copyright 1998 by Royal Economic Society.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 50 (1998)
Issue (Month): 3 (July)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Cristina Bodea, 2013. "Independent central banks, regime type, and fiscal performance: the case of post-communist countries," Public Choice, Springer, Springer, vol. 155(1), pages 81-107, April.
- Gale, Douglas M & Vives, Xavier, 2001.
"Dollarization, Bailouts and the Stability of the Banking System,"
CEPR Discussion Papers, C.E.P.R. Discussion Papers
2901, C.E.P.R. Discussion Papers.
- Douglas Gale & Xavier Vives, 2002. "Dollarization, Bailouts, And The Stability Of The Banking System," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 117(2), pages 467-502, May.
- Douglas Gale & Xavier Vives, 2001. "Dollarization, bailouts, and the stability of the banking system," Proceedings, Federal Reserve Bank of Chicago 729, Federal Reserve Bank of Chicago.
- Gale, Douglas & Vives, Xavier, 2002. "Dollarization, bailouts, and the stability of the banking system," HWWA Discussion Papers, Hamburg Institute of International Economics (HWWA) 185, Hamburg Institute of International Economics (HWWA).
- Ibrahim L. Awad, 2008.
"Towards measurement of political pressure on central banks in the emerging market economies: the case of the central bank of Egypt,"
Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration,
Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 1, pages 63-89, December.
- Ibrahim L. Awad, 2007. "Towards Measurement of Political Pressure on Central Banks in the Emerging Market Economies: The Case of the Central Bank of Egypt," Working Papers IES, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies 2007/30, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Dec 2007.
- Jörg Bibow, 2001. "Reflections on the Current Fashion For Central Bank Independence," Macroeconomics, EconWPA 0108004, EconWPA.
- Jean-FranÃ§ois Segalotto & Marco Arnone & Bernard Laurens, 2006. "Measures of Central Bank Autonomy," IMF Working Papers, International Monetary Fund 06/228, International Monetary Fund.
- Mark Mietzner & Dirk Schiereck, 2011. "Staatsfonds als Ankerinvestoren: Eine Note zum Einstieg von Aabar bei Daimler," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, Verein für Socialpolitik, vol. 12(1), pages 92-100, 02.
- Hielscher, Kai & Markwardt, Gunther, 2012.
"The role of political institutions for the effectiveness of central bank independence,"
European Journal of Political Economy, Elsevier,
Elsevier, vol. 28(3), pages 286-301.
- Kai Hielscher & Gunther Markwardt, 2011. "The Role of Political Institutions for the Effectiveness of Central Bank Independence," CESifo Working Paper Series, CESifo Group Munich 3396, CESifo Group Munich.
- Georgios Chortareas & David Stasavage & Gabriel Sterne, 2001.
"Does it pay to be transparent? International evidence from central bank forecasts,"
Bank of England working papers, Bank of England
143, Bank of England.
- Georgios Chortareas & David Stasavage & Gabriel Sterne, 2002. "Does it pay to be transparent? international evidence form central bank forecasts," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Jul, pages 99-118.
- Peter Stella & Ulrich H. Klueh, 2008. "Central Bank Financial Strength and Policy Performance," IMF Working Papers, International Monetary Fund 08/176, International Monetary Fund.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.