1. Central Bank Independence in North Africa
- Author:
- Bessma Momani and Samantha St. Amand
- Publication Date:
- 03-2014
- Content Type:
- Policy Brief
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Securing CBI has become best practice in global governance. Both the political and economic literatures suggest that CBI facilitates price stability, promotes transparency to citizens and provides accountability toward the public good. CBI is also credited with protecting the economic and financial system from the trappings of regulatory capture. In addition, a number of scholars have argued that CBI is correlated with positive policy outcomes, including balanced long- term economic growth, stable financial markets and a reduced likelihood of publicly funded financial institution bailouts. Moreover, some have suggested that CBI is important for fostering a healthy liberal democracy. As global markets have become increasingly integrated and interdependent, securing CBI is also considered a domestic, regional and global public good.
- Topic:
- Development, Economics, Globalization, Monetary Policy, Governance, and Reform
- Political Geography:
- Africa and North Africa