Central Bank Independence, Inflation, and Poverty in Africa
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Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
SAGE
Abstract
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.
Description
Research Article
Keywords
Central bank independence, inflation, poverty, Africa