{ "title": "Central Bank Autonomy: Lessons from Global Trends", "publication": "IMF Working Papers, April 1, 2007", "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632", "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632", "overlayPath": "/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/index.md", "summary": "We calculate 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.", "sections": [ { "heading": "Overview and research scope", "content": "- Indexes of central bank autonomy (CBA) calculated for 163 central banks as of end-2003.\n- Comparable indexes calculated for a subgroup of 68 central banks as of the end of the 1980s.\n- Timeframe and coverage focus: cross-country comparison over \"the past couple of decades\" up to end-2003 with a historical subgroup at end-1980s." }, { "heading": "Key empirical findings", "content": "- Strong improvements in both economic and political CBA over the past couple of decades.\n- Greater CBA has on average helped to maintain low inflation levels.\n- More progress is needed to boost political autonomy of central banks in emerging market and developing countries.\n- Significant differences exist across countries in the area of banking supervision, where many central banks have retained a key role." }, { "heading": "Conceptual contributions and principles", "content": "- The paper identifies four broad principles of central bank autonomy that have been shared by the majority of countries.\n- Discussion of the sequencing of reforms to separate the conduct of monetary and fiscal policies." }, { "heading": "Subject matter and keywords", "content": "- Subjects: Banking, Central bank autonomy, Central bank credit, Emerging and frontier financial markets, Inflation\n- Keywords: CBA Autonomy, central bank, country, developing country, government, WP" }, { "heading": "Publication and document identifiers (as stated in the source)", "content": "- Pages: 53\n- Volume: 2007\n- Issue: 088\n- Series: Working Paper No. 2007/088\n- DOI: https://doi.org/10.5089/9781451866520.001\n- Stock No: WPIEA2007088\n- ISBN: 9781451866520\n- ISSN: 1018-5941\n- Authors: Bernard J Laurens, Martin Sommer, Marco Arnone, Jean-François Segalotto\n- Publication date on landing page: April 1, 2007\n\nSource: Central Bank Autonomy: Lessons from Global Trends, IMF Working Paper No. 2007/088.\n\n---\n\n Content in this bundle\n\n- wp0788\n - wp0788 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - wp0788 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632" } ], "bullets": [ "[Markdown version](/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/index.md)", "[Structured JSON version](/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/index.json)", "[Bundle manifest](/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/bundle-manifest.json)", "Authors: Bernard J Laurens, Martin Sommer, Marco Arnone, Jean-François Segalotto", "Published: April 1, 2007", "Series: IMF Working Papers", "DOI: https://doi.org/10.5089/9781451866520.001", "Indexes of central bank autonomy (CBA) calculated for 163 central banks as of end-2003.", "Comparable indexes calculated for a subgroup of 68 central banks as of the end of the 1980s.", "Timeframe and coverage focus: cross-country comparison over \"the past couple of decades\" up to end-2003 with a historical subgroup at end-1980s.", "Strong improvements in both economic and political CBA over the past couple of decades.", "Greater CBA has on average helped to maintain low inflation levels.", "More progress is needed to boost political autonomy of central banks in emerging market and developing countries.", "Significant differences exist across countries in the area of banking supervision, where many central banks have retained a key role.", "The paper identifies four broad principles of central bank autonomy that have been shared by the majority of countries.", "Discussion of the sequencing of reforms to separate the conduct of monetary and fiscal policies.", "Subjects: Banking, Central bank autonomy, Central bank credit, Emerging and frontier financial markets, Inflation", "Keywords: CBA Autonomy, central bank, country, developing country, government, WP", "Pages: 53", "Volume: 2007", "Issue: 088", "Series: Working Paper No. 2007/088", "DOI: https://doi.org/10.5089/9781451866520.001", "Stock No: WPIEA2007088", "ISBN: 9781451866520", "ISSN: 1018-5941", "Authors: Bernard J Laurens, Martin Sommer, Marco Arnone, Jean-François Segalotto", "Publication date on landing page: April 1, 2007", "**_wp0788**" ], "related": [ { "title": "_wp0788", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp0788.pdf", "summary": { "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp0788.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp0788.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/index.md", "json": "/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/index.json", "bundleManifest": "/en/publications/wp/issues/2016/12/31/central-bank-autonomy-lessons-from-global-trends-20632/bundle-manifest.json" }, "generatedAtUtc": "2026-09-17T10:35:57.255Z" }