Central bank autonomy: Lessons from global trends

The IMF Working Paper "Central bank autonomy: Lessons from global trends" calculates indexes of central bank autonomy (CBA) for 163 central banks as of end-2003, and comparable indexes for a subgroup of 68 central banks as of the end of the 1980s.

The results confirm strong improvements in both economic and political CBA over the past couple of decades, although more progress is needed to boost political autonomy of the central banks in emerging market and developing countries. The analysis

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