Munich Personal RePEc Archive

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

Ayadi, Felix and Ojo, Marianne (2013): Central bank independence: monetary policies in selected jurisdictions (II).

[img]
Preview
PDF
MPRA_paper_45684.pdf

Download (138kB) | Preview

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.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.