CENTRAL BANK INDEPENDENCE AND ECONOMIC GROWTH: AN ANALYSIS OF THE LINK BETWEEN THEM
Palavras-chave:Central bank independence. Investment. Economic growth.
ResumoThis paper presents a simple Barro-Gordon type model to explain the link between central bank independence (CBI) and inflation. It then extends the model to examine the link between CBI and economic growth. Using an index of CBI created by Cukierman, Webb and Neyapti (1992) the paper empirically tests the link between CBI, investment and growth. This paper finds no evidence that CBI promotes investment or growth.
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Mendonça, H. F. de. (2009). CENTRAL BANK INDEPENDENCE AND ECONOMIC GROWTH: AN ANALYSIS OF THE LINK BETWEEN THEM. Análise Econômica, 24(45). https://doi.org/10.22456/2176-5456.10842