Haan, Jakob De; Siermann, Clemens L.J. - In: Journal of Economic Policy Reform 1 (1996) 2, pp. 135-147
We test whether political instability affects central bank independence in developing countries. Both a legal measure … and the turnover tate of central bank governors are used as proxies for central bank independence and the frequency of … government transfers is used to proxy political instability. Only the number of coups affects the turnover rate of central bank …