Inflation Performance and Constitutional Central Bank Independence : Evidence From Latin America and the Caribbean /

This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation performance. Empirical studies for developing countries have not found a relationship between central bank independence, proxied by the "de jure" independence established...

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Xehetasun bibliografikoak
Egile nagusia: Gutierrez, Eva
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2003.
Saila:IMF Working Papers; Working Paper ; No. 2003/053
Sarrera elektronikoa:Full text available on IMF
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020 |z 9781451847406 
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100 1 |a Gutierrez, Eva. 
245 1 0 |a Inflation Performance and Constitutional Central Bank Independence :   |b Evidence From Latin America and the Caribbean /  |c Eva Gutierrez. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2003. 
300 |a 1 online resource (30 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation performance. Empirical studies for developing countries have not found a relationship between central bank independence, proxied by the "de jure" independence established in the central bank law, and inflation. We argue that the constitution is likely to be better enforced than ordinary statutes owing to its higher legal rank. Our empirical analysis finds that in a sample of Latin American and Caribbean countries, those countries that entrench the independence of the central bank in the constitution have a better inflation performance. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/053 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2003/053/001.2003.issue-053-en.xml  |z IMF e-Library