Political Influence on the Central Bank- International Evidence

  title={Political Influence on the Central Bank- International Evidence},
  author={A. Cukierman and Steven B. Webb},
  • A. Cukierman, Steven B. Webb
  • Published 1995
  • Political Science, Economics
  • Political influence on the central bank is measured bere by looking at the probability that a central bank governor will be replaced shortly after a political change of government. The governor changes about half the time witbin six months of a nonconstitutional or other radical change of government-a military coup or a restoration of democracy. The governor is much less likely to change within six months following a routine change in the head of government-about one-fourth of the time in… CONTINUE READING
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