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Transparency in the two central banks of African franc zone: assessment and international comparison

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  • BOKINO Régis

Abstract

In the 1980s, central banks were characterized by secrecy since they deployed very little effort to inform economic agents about their intentions, motives and actions. In the early 1990s new regulations and layouts increased the levels of transparency of central banks. This layouts crescent showed the growing importance of transparency.\r\n\r\nThis article, which is aligned with the paper and Malik Din (2008), assesses the BCEAO transparency indices and BEAC using the method advocated by Eijffinger and Geraats (2006) and compared with those of nineteen other central banks in both industrialized and developing countries. The results show not only that the BCEAO and BEAC are less transparent than the central banks of developed countries but also that there is a big difference in the indices of transparency between the two central banks of the franc zone countries and those of other developing countries.

Suggested Citation

  • BOKINO Régis, 2015. "Transparency in the two central banks of African franc zone: assessment and international comparison," Cahiers du GREThA 2015-22, Groupe de Recherche en Economie Théorique et Appliquée.
  • Handle: RePEc:grt:wpegrt:2015-22
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    File URL: http://cahiersdugretha.u-bordeaux4.fr/2015/2015-22.pdf
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    References listed on IDEAS

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    1. Volker Hahn, 2009. "Transparency of Central Bank Preferences," German Economic Review, Verein für Socialpolitik, vol. 10, pages 32-49, February.
    2. Eijffinger, Sylvester C.W. & Geraats, Petra M., 2006. "How transparent are central banks?," European Journal of Political Economy, Elsevier, vol. 22(1), pages 1-21, March.
    3. Frederic S. Mishkin, 2004. "Why the Federal Reserve Should Adopt Inflation Targeting," International Finance, Wiley Blackwell, vol. 7(1), pages 117-127, March.
    4. Edwin Le Héron & Philippe Moutot, 2008. "Les banques centrales doivent-elles être indépendantes ?," Post-Print halshs-00295011, HAL.
    5. Petra M. Geraats, 2002. "Central Bank Transparency," Economic Journal, Royal Economic Society, vol. 112(483), pages 532-565, November.
    6. Stephen Morris & Hyun Song Shin, 2002. "Social Value of Public Information," American Economic Review, American Economic Association, vol. 92(5), pages 1521-1534, December.
    7. Meixing Dai & Qiao Zhang, 2013. "Central bank transparency with the cost channel," Working Papers of BETA 2013-06, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Central banking; transparency; BCEAO; BEAC.;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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