Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997
IMF Working Papers, January 1, 1999
Source details
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- Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997
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Bibliographic details
- Authors: Tonny Lybek
- Published: January 1, 1999
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451842029.001
Summary / Main findings
- A higher degree of de jure autonomy and accountability of the central banks of the Baltic states, Russia, and other countries of the former Soviet Union appears to be positively correlated with lower average inflation.
- There also seems to be some positive correlation between greater central bank autonomy and higher average real growth, after the initial period of reforms.
- Central banks with a higher degree of autonomy and accountability have apparently also reformed their operations more aggressively.
Subject focus and keywords
- Subject: Banking, Central bank accountability, Central bank autonomy, Central bank credit, Central bank legislation, Central banks, Inflation, Prices
- Keywords: autonomy, Baltics, BRO central bank law, BRO country, central bank, Central bank accountability, central bank authority, Central bank autonomy, Central bank credit, central bank governor, Central bank independence, Central bank legislation, country, draft central bank law, financial condition, government, Inflation, instrument autonomy, target autonomy, transition economies, WP