高加索和中亚国家中央银行独立性与经济绩效

IF 1.6 Q3 BUSINESS

Journal of Eastern European and Central Asian Research Pub Date : 2018-11-19 DOI:10.15549/JEECAR.V5I2.234

Islam Rizvanoghlu, Abdulkadir Nagac

{"title":"高加索和中亚国家中央银行独立性与经济绩效","authors":"Islam Rizvanoghlu, Abdulkadir Nagac","doi":"10.15549/JEECAR.V5I2.234","DOIUrl":null,"url":null,"abstract":"This paper explores the association of both central bank independence (CBI) and financial market development with the economic performance of Turkey together with six former centrally planned former Soviet Union countries located in Caucasus and Central Asia (CCA countries). First, we construct a legal independence index (LVAW) for central banks. Then, we analyze the relationship between central bank independence and macroeconomic variables. Our findings suggest that there is a positive correlation between central bank independence and GDP growth, whereas the sign of correlation between CBI and GDP deflator is negative. Besides, the economies with higher level of financial deepening are also associated with high CBI.","PeriodicalId":37422,"journal":{"name":"Journal of Eastern European and Central Asian Research","volume":"1 1","pages":""},"PeriodicalIF":1.6000,"publicationDate":"2018-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":"{\"title\":\"Central Bank Independence and Economic Performance in Caucasus and Central Asian Countries\",\"authors\":\"Islam Rizvanoghlu, Abdulkadir Nagac\",\"doi\":\"10.15549/JEECAR.V5I2.234\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper explores the association of both central bank independence (CBI) and financial market development with the economic performance of Turkey together with six former centrally planned former Soviet Union countries located in Caucasus and Central Asia (CCA countries). First, we construct a legal independence index (LVAW) for central banks. Then, we analyze the relationship between central bank independence and macroeconomic variables. Our findings suggest that there is a positive correlation between central bank independence and GDP growth, whereas the sign of correlation between CBI and GDP deflator is negative. Besides, the economies with higher level of financial deepening are also associated with high CBI.\",\"PeriodicalId\":37422,\"journal\":{\"name\":\"Journal of Eastern European and Central Asian Research\",\"volume\":\"1 1\",\"pages\":\"\"},\"PeriodicalIF\":1.6000,\"publicationDate\":\"2018-11-19\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"4\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Eastern European and Central Asian Research\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.15549/JEECAR.V5I2.234\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Eastern European and Central Asian Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15549/JEECAR.V5I2.234","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 4

摘要

本文探讨了中央银行独立性(CBI)和金融市场发展与土耳其以及位于高加索和中亚的六个前中央计划的前苏联国家(CCA国家)的经济绩效之间的关系。首先，我们构建了央行法律独立性指数(LVAW)。然后，我们分析了央行独立性与宏观经济变量的关系。我们的研究结果表明，央行独立性与GDP增长之间存在正相关关系，而CBI与GDP平减指数之间存在负相关关系。此外，金融深化程度越高的经济体，其CBI也越高。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Central Bank Independence and Economic Performance in Caucasus and Central Asian Countries

This paper explores the association of both central bank independence (CBI) and financial market development with the economic performance of Turkey together with six former centrally planned former Soviet Union countries located in Caucasus and Central Asia (CCA countries). First, we construct a legal independence index (LVAW) for central banks. Then, we analyze the relationship between central bank independence and macroeconomic variables. Our findings suggest that there is a positive correlation between central bank independence and GDP growth, whereas the sign of correlation between CBI and GDP deflator is negative. Besides, the economies with higher level of financial deepening are also associated with high CBI.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Journal of Eastern European and Central Asian Research Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

2.50

自引率

43.80%

发文量

审稿时长

8 weeks

期刊介绍： Journal of Eastern European and Central Asian Research (JEECAR) is a multi-disciplinary journal related to the Eurasia regional economics, finance, management, marketing, international affairs, and other business-related disciplines. By Eastern Europe and Central Asia, the IEECA refers to Russia, Ukraine, Belarus, Moldova, Armenia, Azerbaijan, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Serbia, Montenegro, Bosnia and Herzegovina, Albania, Kosovo, Macedonia, and five post-Soviet Central Asian states: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics. Any paper submitted to the journal must be original, previously unpublished, and currently not under consideration for publication elsewhere. All articles in the printed version of the journal are peer-reviewed. The review process is a double-blind process. Neither the authors nor the reviewers know who wrote or reviewed the article. Per standard practice, only the Editor assigned to handle a paper knows the identity of the authors and the reviewers.