Central Bank Independence and Private Investment in the Developing World

M. Pastor, Jr and S. Maxfield

Economics and Politics, 1999, vol. 11, issue 3, 299-309

Abstract: We argue that central bank independence (CBI) can raise private investment through signalling commitment to reform and suggest that such an effect might be larger in democracies where CBI can also limit populist access to economic policy‐making. Random effects regressions on private investment behavior in a sample of 20 developing countries support these hypotheses.

Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://doi.org/10.1111/1468-0343.00063

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:bla:ecopol:v:11:y:1999:i:3:p:299-309

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0954-1985

Access Statistics for this article

Economics and Politics is currently edited by Peter Rosendorff

More articles in Economics and Politics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().