Buletin Ekonomi Moneter dan Perbankan
Vol 15 No 4 (2013)

THE EFFECT OF CENTRAL BANK INDEPENDENCE ON PRICE STABILITY: THE CASE OF INDONESIA

Yessy Andriani (Unknown)
Prasanna Gai (Unknown)

Article Info

Publish Date
23 Sep 2013

Abstract

This paper investigates the relationship between central bank independence (CBI) and inflation in Indonesia during 1970-2006. Using partial adjustment Ordinary Least Square (OLS) and Engel Granger Error Correction Model, the result shows that legal CBI index inversely affect the inflation, while the turnover of governor is not significant. This result emphasizes Bank Indonesia to strengthen its independency in order to achieve his inflation target. Keywords: Central bank independency, Inflation, Error Correction Model.JEL Classification : C32, E58

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Journal Info
Buletin Ekonomi Moneter dan Perbankan
Website

Abbrev

BEMP

Publisher

Bank Indonesia

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Description

The Buletin Ekonomi Moneter dan Perbankan/Bulletin of Monetary Economics and Banking (BMEB) is an international peer-reviewed journal. This is a quarterly journal, published in January, April, July and August. The BMEB focuses on a broad range of topics covering monetary economics, banking, ...