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Global Trends in Central Bank Governance

  • Bernard J. Laurens
  • Marco Arnone
  • Jean-François Segalotto
Chapter
  • 71 Downloads
Part of the Procyclicality of Financial Systems in Asia book series (IMF)

Abstract

This chapter1 discusses global trends in CB governance based on the indicators of independence, accountability, and transparency presented in Chapter 4, and which are applied to CBs from advanced countries, emerging markets, and developing countries. Our analysis is based on the levels of CB independence, accountability, and transparency observed in the recent period. Furthermore, we analyze the evolution of CB independence over time (i.e., since the late 1980s) on the basis of measurements reported in GMT (1991) and Cukierman (1992). Given that such measurements do not exist for the other pillars of CB governance (i.e., transparency and accountability) an analysis of their evolution over time is not possible.

Keywords

Monetary Policy Euro Area Transition Economy Advanced Economy Advanced Country 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© International Monetary Fund 2009

Authors and Affiliations

  • Bernard J. Laurens
    • 1
  • Marco Arnone
    • 2
    • 3
  • Jean-François Segalotto
    • 2
  1. 1.Monetary and Capital Markets DepartmentInternational Monetary FundUSA
  2. 2.The Centre for Macroeconomics & Finance Research (CeMaFiR)Italy
  3. 3.University of Eastern PiedmontItaly

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