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Central Bank Transparency and Independence: Updates and New Measures

Author

Listed:
  • N. Nergiz Dincer

    (T.R. Prime Ministry State Planning Organization)

  • Barry Eichengreen

    (Department of Economics, University of California, Berkeley)

Abstract

This paper reports updated measures of transparency and independence for more than 100 central banks. The indices show that there has been steady movement in the direction of greater transparency and independence over time. In addition, we show that outcomes such as the variability of inflation are significantly affected by both central bank transparency and independence. Disentangling the impact of the two dimensions of central bank arrangements remains difficult, however.

Suggested Citation

  • N. Nergiz Dincer & Barry Eichengreen, 2013. "Central Bank Transparency and Independence: Updates and New Measures," Working Papers 2013-21, Economic Research Institute, Bank of Korea.
  • Handle: RePEc:bok:wpaper:1321
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Central Bank; Transparency; Independence;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • F0 - International Economics - - General

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