Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence

Bengü Tosun () and Selim Başar ()
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Bengü Tosun: Independent Researcher, Erzurum, Turkey
Selim Başar: Anadolu University, Faculty of Economics, Department of Labour Economics and Industrial Relations, Eskişehir, Turkey

Journal of Central Banking Theory and Practice, 2024, vol. 13, issue 1, 89-116

Abstract: This study aims to examine the effects of monetary policies implemented by developed countries and central bank independence of developing countries on the financial fragility of developing countries. According to the findings, it was seen that the contractionary monetary policies implemented by the central banks of developed countries increase the financial fragility for both groups of countries, as do the change of central bank governors. However, the change in governors strengthens positive effects of contractionary monetary policies on the financial fragility.

Keywords: Financial Fragility; International Monetary Policy; Central Bank Independence; System GMM. (search for similar items in EconPapers)
JEL-codes: C33 E52 E58 F42 G00 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:13:y:2024:i:1:p:89-116

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