ARTÍCULO
TITULO

The Relation between Central Bank Independence and Inflation Rate in Egypt: An Empirical Analysis during 1998-2019

Mai Wagdy ElHodaiby    
Ahmed Elsamman    

Resumen

This paper examines the relation between granting central banks more independence represented in both its manifested legal charter as well as actual practices adopted and inflation in Egypt during the period from 1998-2019. To do so, this paper first looks at the evolution of different central bank independence (CBI) measures and adopts the most comprehensive relevant one. Consequently, it runs a regression model adopting an autoregressive distributed lag (ARDL) model, regressing the dependent variable inflation on its determinants of legal CBI, actual CBI, M2 and openness, to capture such relation in both the short and long term time dimensions in the case of Egypt. The paper further provides an interpretation of computed outcomes, where it presents robust evidence of an inverse relation between inflation and CBI in Egypt in the period under study in its legal and actual form and in both the short-run and the long-run.  Keywords: Central bank independence, Central Bank of Egypt, Inflation, Autoregressive distributed lag, unit root testJEL Classifications: E31, E42, E58, E370DOI: https://doi.org/10.32479/ijefi.10941

 Artículos similares

       
 
Citra Ayu Rossi Wulandari, Banatul Hayati     Pág. 328 - 342
This study examines the relationship between economic growth, population growth, foreign direct investment, export, energy consumption and environmental degradation in the case of Indonesia. The time component of the dataset is 1981-2017 inclusive. The V... ver más

 
Benjamin Kwakye,Chan Tze Haw     Pág. 262 - 271
This research systematically reviews and evaluate literature on the interplay of the macroeconomy and house prices in the contemporary. The research recapitulates the ?ndings, data and models between and among the discussants in the extant literature to ... ver más

 
Mariem Nsaibi,Ilyes Abidi,Mohamed Tahar Rajhi     Pág. 107 - 115
The aim of this paper is to study the effect of governance mechanisms on the operational risk management of banks. A total of 1176 operational loss events recorded in 14 banks during the period 2006-2013 are analyzed to study the relation between the ope... ver más

 
Zeeshan Ahmed,Qasim Saleem,Abdul Qadir Bhatti,Bilal Ahmed     Pág. 176 - 184
The study aims to examine the relation between capital structure and information asymmetry. For this purpose, pooled OLS and fixed effect model regression techniques are used for empirical analysis of the study. The annual data has been taken from analys... ver más

 
Mehmet Nar, Mehmet Sükrü Nar     Pág. 273 - 299
Studies have shown that public regulatory authorities can serve self-interest instead of public interest. The US sugar market can be given as a concrete example of this situation. Regulatory actions for the sugar market have led to the widespread use of ... ver más