Using panel estimation for a large sample of industrial and developing countries we find significant negative effects of inflation on economic growth. The magnitude of these effects is, however, much larger for the industrial countries than for the developing countries

Central bank independence (CBI)as an area for international comparison and for study by international political economists has been around for approximately two decades, spurred on by the work of Bade and Parkin (1982). It probably reached its full fruition with the work of Cukierman and others,...