Has the global financial crisis dented central bank independence?
Has the crisis dented central bank independence?
Central bank independence has been widely discussed and debated over the years. The global financial crisis and the sovereign debt crisis in Europe have once again revived this debate in the context of the enlarged role of the central bank in containing the crisis and ensuring a speedy recovery. While the crisis swept across the advanced market economies (AMEs), it became evident that emerging market economies (EMEs) were being rapidly pulled into its vortex. This period also saw the spotlight
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