Central bank independence, a not so new idea in the history of economic thought: a doctrine in the 1920s

Adriano Do Vale ()
Additional contact information
Adriano Do Vale: CEPN - Centre d'Economie de l'Université Paris Nord - Université Sorbonne Paris Nord, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Central bank independence (CBI) has been a prominent topic for decades, but remains relatively unexplored in the history of economic thought. Relevant literature is scarce and focuses on the post-war period. To extend this literature, I argue that there was a doctrine of CBI in the 1920s. I examine its development from an international recommendation and a principle of the central banking doctrine designed by the British governor Norman to the elaborate doctrine of Kisch & Elkin. The paper's main contribution is a detailed analysis of the doctrine of CBI provided in their reference book on central banking.

Keywords: Central banking; Central bank independence; History of economic though; Interwar period; Monetary arrangements (search for similar items in EconPapers)
Date: 2021-10
References: Add references at CitEc
Citations:

Published in European Journal of the History of Economic Thought, 2021, 28 (5), pp.811-843. ⟨10.1080/09672567.2021.1908393⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-05559485

DOI: 10.1080/09672567.2021.1908393

Access Statistics for this paper

More papers in Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL
Bibliographic data for series maintained by CCSD ().