Indicators of Independence, Accountability, and Transparency
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None of the studies on CB independence, accountability, and transparency that are surveyed in Chapters 1 to 3 has attempted to analyze worldwide trends. In an effort to fill this gap, and drawing on the advances we have described, we propose indicators of CB independence, accountability, and transparency, which we will apply to a sample of CBs in countries at different stages of economic development (advanced economies, emerging market economies, and developing countries) and from all geographic areas. In this chapter we define the indicators of CB independence, accountability, and transparency that are used in Chapters 5 to 7, by drawing on the literature discussed earlier.
KeywordsMonetary Policy Central Bank Inflation Outlook Economic Outlook Informational Asymmetry
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