MEASURING THE DEGREE OF THE CENTRAL BANK'S INDEPENDENCE

• Authors: Brzozowski M.
• Languages of publication: PL

Abstracts

EN

The law-based indicators of central bank independence neither satisfactorily reflect the real degree of autonomy nor the theoretical dimension of the concept of independence. In the developing market economies there emerges, alongside the subjective assessment of the statutes of the central bank, a problem of a divergence between the legal stipulations and the practices of government vis-a-vis the decision makers in the realm of monetary policy. Using panel research data and reaction functions the author ranked the degree of independence of central banks in the countries undergoing transformation. He presents analytically estimated central bank's independence indices of countries in question.

Keywords

EN

CENTAL BANK INDEPENDENCE

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Komitet Nauk Ekonomicznych PAN, Polskie Towarzystwo Ekonomiczne
• Journal: Ekonomista
• Year: 2004
• Issue: 2
• Pages: 187-207
• Document type: ARTICLE

Contributors

author

Brzozowski M.

• M. Brzozowski, Uniwersytet Warszawski, Wydzial Nauk Ekonomicznych, Katedra Makroekonomii i Teorii Handlu Zagranicznego, ul. Dluga 44/50, 00-241 Warszawa, Poland

Identifiers

CEJSH db identifier

04PLAAAA0018373