The Effectiveness of Macroeconomic Commitment in Weak(er) Institutional Environments »
Journal Issue
Volume/Issue: 2010/193
Series: IMF Working Papers
Author(s): Marc Quintyn , and Sophia Gollwitzer
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2010
DOI: http://dx.doi.org/10.5089/9781455205233.001
ISBN: 9781455205233
Keywords: Macroeconomic Commitment Institutions, Political-Economic Institutions, inflation, central bank, monetary fund, monetary union, The Effectiveness of Macroeconomic Commitment, Fiscal and Monetary Policy in Development, Capitalist Systems: Political Economy, Other Economic Systems: Other
This paper analyzes the institutional conditions affecting the establishment and effectiveness of independent central banks and of budgetary institutions. It draws on the recent theory developed by North, Wallis an...