Central bank independence and stock market returns in emerging economies

Thomas Förch and Uwe Sunde

Economics Letters, 2012, vol. 115, issue 1, 77-80

Abstract: We investigate the effect of central bank independence on stock market returns in emerging economies. We find evidence for a positive overall effect, but economic independence of the central bank appears to be more relevant than political independence.

Keywords: Central bank independence; Stock market returns; Emerging Economies (search for similar items in EconPapers)
JEL-codes: E5 G1 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:1:p:77-80

DOI: 10.1016/j.econlet.2011.11.030

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