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      • Department of Economics
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      Central bank independence and economic performance in eastern Europe

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      Author(s)
      Neyapti, B.
      Date
      2001
      Source Title
      Economic Systems
      Print ISSN
      0939-3625
      Electronic ISSN
      1878-5433
      Publisher
      Elsevier BV
      Volume
      25
      Issue
      4
      Pages
      381 - 399
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      Following the breakdown of central planning by the early 1990s, transition economies faced varying measures of the need for economic restructuring and stabilisation. This paper examines both the trends in economic performance in eight eastern European countries and the degree of central bank independence (CBI) granted after reforms. The evidence of the paper indicates that both the measures of CBI and the measures of financial market development (FMD) show significant association with macroeconomic variables. Also, the sample exhibits positive association between CBI and measures of FMD. © 2001 Elsevier Science B.V. All rights reserved.
      Keywords
      Central bank independence
      Eastern Europe
      Financial market development
      Inflation
      Transition
      Permalink
      http://hdl.handle.net/11693/13468
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/S0939-3625(01)00033-4
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