The paper investigates whether institutional independence contributes positively to central bank responses to economic emergencies. The paper examines evidence of central bank responses to the economic effects of the COVID-19 pandemic of 2020 to investigate correlation between independence and...

The predominance of technocracy and preference for institutional independence that was key to the market-state relationship since the end of the cold-war is being challenged by renewed calls for re-politicisation from across the political spectrum. The prime examples in developed economies are...