can account for nearly two thirds of the improved inflation performance of these nations over the last two decades …

This study examines the effect of legal central bank independence on inflation in developing countries. In spite of the … policy consensus suggesting that central bank independence is an effective tool to control inflation, the evidence is still … inflation for a sample of 118 developing countries between 1980 and 2013. We find that higher central bank independence is …

It has been argued that economies with more independent central banks experience lower inflation over time. In this … the inflation rate dynamics. Second, we implement a panel data analysis. We find evidence that legislative reforms that … modify the degree of independence of a central bank have a strong impact on the inflation rate dynamics. Moreover, underlying …

framework is then used to interpret the evolution of central bank independence from the Great Inflation throughout the Great …