Intro -- Contents -- I. INTRODUCTION AND DATA -- II. UPDATED INDICATORS OF CENTRAL BANK AUTONOMY IN SELECTED OECD COUNTRIES -- III. AUTONOMY INDICATORS FOR EMERGING MARKETS AND DEVELOPING COUNTRIES -- IV. PROGRESS TOWARDS AUTONOMY IN EMERGING MARKETS AND DEVELOPING COUNTRIES -- V. OVERVIEW OF...

"Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...