Central Bank Independence, Accountability, and Transparency

Foreword Acknowledgements Introduction PART I: SURVEY OF MODELS AND INDICATORS OF INDEPENDENCE Introduction Base Indicators of Independence Subsequent Literature and Empirical Studies on Base Indicators Conclusions PART II: SURVEY OF MODELS AND INDICATORS OF ACCOUNTABILITY Responsibility and Accountability The Concept of Accountability in the Literature Accountability Indices: Comparison of Empirical Results PART III: SURVEY OF MODELS AND INDICATORS OF TRANSPARENCY Introduction Rationale for Transparency The Concept of Transparency in the Literature Indicators and Measures in the Literature Conclusions PART IV: NEW INDICATORS OF INDEPENDENCE, ACCOUNTABILITY AND TRANSPARENCY Methodology for Assessing Central Bank Independence Methodology for Assessing Central Bank Accountability and Transparency PART V: RELATIONSHIPS BETWEEN INDEPENDENCE, ACCOUNTABILITY AND TRANSPARENCY Accountability and Transparency Accountability and Independence Transparency and Independence Conclusions PART VI: INDEPENDENCE AND INFLATION PERFORMANCE: NEW EMPIRICAL EVIDENCE PART VII: GLOBAL TRENDS AND POLICY LESSONS Global Trends in Central Bank Independence Global Trends in Central Bank Accountability and Transparency Global Trends in Central Bank Governance Lessons from Global Trends References