Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Three Stages of Central Bank Autonomy in Mexico

Contents:

Author Info

  • Eduardo Turrent y Díaz
Registered author(s):

    Abstract

    Autonomy is not a new issue in the history of Banco de México. This paper presents how the concept of central bank autonomy has evolved through three main stages. In the first stage, known as statutory autonomy (1925-1938), autonomy was formalized through rules which established ceilings to the growth of key operative variables. The next stage, known as charismatic autonomy (1955-1970), relied on the defense by important political figures on the central bank´s role. Sound public finances were a significant aid in this stage. The end of sound public finances signaled the termination of the central bank´s charismatic autonomy. The last stage, known as institutional autonomy (1994 to date), is certainly more robust. Apart from having contributed to preserve sound public finances, the central bank´s institutional autonomy is based on a constitutional mandate that determines the central bank´s functions, a self-governing directive body, and administrative and budget independence.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/%7BA49BFA7D-25E8-4A6A-C9E8-F4B239DC47DD%7D.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Banco de México in its series Working Papers with number 2007-10.

    as in new window
    Length:
    Date of creation: Jul 2007
    Date of revision:
    Handle: RePEc:bdm:wpaper:2007-10

    Contact details of provider:
    Web page: http://www.banxico.org.mx
    More information through EDIRC

    Related research

    Keywords: Central bank independence;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:bdm:wpaper:2007-10. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dirección de Sistemas).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.