Central bank independence: A political economy approach1
用政治经济学方法审视央行独立性的传统论点,评估在特定社会政治力量格局下增强自主性的可行性与可取性,并建议发展中国家如何达成利益协调以支持更自主但非完全独立的央行。
The article uses a political economy approach to examine critically the conventional arguments for central bank independence and to make the terms of debate more precise. It assesses the advisability and feasibility of greater autonomy in relation to the constellations of political forces in specific societies and concludes by suggesting how, in the context of developing societies, an accommodation of interests might be reached to support a more autonomous but not fully independent central bank.