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Macro Prudential Supervision in the Open Economy, and the Role of Central Banks in Emerging Markets

✍ Scribed by Joshua Aizenman

Publisher
Springer US
Year
2010
Tongue
English
Weight
468 KB
Volume
21
Category
Article
ISSN
0923-7992

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## Abstract We test some positive implications of the commitment hypothesis for the design of monetary institutions in open economies, by studying the determinants of Central Bank independence on a sample of 55 countries, for the period 1980–1989. We document fairly consistent empirical evidence in