Central bank independence: monetary policies in selected jurisdictions (II)

Felix Ayadi and Marianne Ojo

MPRA Paper from University Library of Munich, Germany

Abstract: Through an investigation of selected jurisdictions, this paper aims to contribute to the extant literature in investigating the relationship between central bank independence and price stability, as well as how such a relationship varies between different jurisdictions – even though it is widely argued that political and legislative interference is often contributory to price instability. This paper employs times series data to study the dynamics of central bank independence. It also employs bivariate cointegration methodology to examine the long-term relationship between inflation index and the different measures of financial development.

Keywords: inflation; price stability; central bank independence; monetary policy; financial stability (search for similar items in EconPapers)
JEL-codes: E5 E52 E58 K2 (search for similar items in EconPapers)
Date: 2013-03-31
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Related works:
Working Paper: Central bank independence: monetary policies in selected jurisdictions (I) (2013)
Working Paper: Central bank independence: monetary policies in selected jurisdictions (III) (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:45684

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