TY - JOUR
T1 - Central Bank Independence, Inflation, and Poverty in Africa
AU - Gyeke-Dako, Agyapomaa
AU - Agbloyor, Elikplimi Komla
AU - Agoba, Abel Mawuko
AU - Turkson, Festus
AU - Abbey, Emmanuel
N1 - Publisher Copyright:
© 2022 Institute of Financial Management and Research.
PY - 2022/6
Y1 - 2022/6
N2 - This article discusses the extent to which central bank independence (CBI) can be used to mitigate the regressive nature of inflation. Using 44 Sub-Saharan African (SSA) countries from the period 1970–2012, the article first examines whether CBI has any influence on inflation by distinguishing between legal independence and governor turnover rates. The evidence shows that CBI helps control inflation, and that inflation generally reduces poverty, and this effect is even stronger, in an environment of low CBI. JEL Codes: E02, E58, E31, I32.
AB - This article discusses the extent to which central bank independence (CBI) can be used to mitigate the regressive nature of inflation. Using 44 Sub-Saharan African (SSA) countries from the period 1970–2012, the article first examines whether CBI has any influence on inflation by distinguishing between legal independence and governor turnover rates. The evidence shows that CBI helps control inflation, and that inflation generally reduces poverty, and this effect is even stronger, in an environment of low CBI. JEL Codes: E02, E58, E31, I32.
KW - Africa
KW - Central bank independence
KW - inflation
KW - poverty
UR - http://www.scopus.com/inward/record.url?scp=85128582157&partnerID=8YFLogxK
U2 - 10.1177/09726527221078434
DO - 10.1177/09726527221078434
M3 - Article
AN - SCOPUS:85128582157
SN - 0972-6527
VL - 21
SP - 211
EP - 236
JO - Journal of Emerging Market Finance
JF - Journal of Emerging Market Finance
IS - 2
ER -