Central Bank Independence and Growth: A Sensitivity Analysis

Hafiz Akhand ()

Canadian Journal of Economics, 1998, vol. 31, issue 2, 303-317

Abstract: In this paper, the Levine-Renelt robustness test is employed to examine the robustness of the empirical relationship between growth and various proxies for central bank independence. Experiments are made with a wide variety of the most comprehensive systematic measures of central bank independence currently available. The Levine-Renelt test implies that growth is not robustly correlated with central bank independence.

JEL-codes: C21 E58 O47 (search for similar items in EconPapers)
Date: 1998
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