Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence
Dissertation (MBA)--University of Pretoria, 2010.
Saved in:
| Other Authors: | |
|---|---|
| Format: | Thesis |
| Published: |
University of Pretoria
2013
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613614185119744 |
|---|---|
| access_status_str | Open Access |
| author2 | Holland, Mike |
| author_browse | Holland, Mike |
| author_facet | Holland, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2006 , University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria |
| description | Dissertation (MBA)--University of Pretoria, 2010. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/23690 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:38:56.612Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/23690 Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence Holland, Mike upetd@up.ac.za Tindleni, Bongiwe UCTD Banks and banking Dissertation (MBA)--University of Pretoria, 2010. Since the early 1990’s IT has particularly become popular with most central banks, largely due to a failure of both monetary aggregate and exchange rate policies in bringing about price stability ( Angeris and Arestiz, 2005).The literature, however raises concerns about the ability of emerging markets in implementing inflation targeting (Mishkin, 2004). In particular, concerns are raised about the commitment to maintain central bank independence, identified as a crucial pre-requisite in the implementation of IT. South Africa, implemented IT in February 2000 and it being an emerging market, questions about the level of the independence of the central bank are relevant. To assess legal independence an index developed by Cukierman (Cukeirman, 1992) is used. In assessing actual independence, two approaches are used. These included interviews with a representative from the South African Reserve Bank (SARB) as well as eleven economists from the private and academic sector. Findings reveal a central bank that has significantly higher actual independence than legal independence, a strange phenomenon for an emerging market. The Bank seems to have largely succeeded in maintain its independence since the implementation of inflation targeting despite the fact that South Africa is an emerging market. The lower legal score, however, raises concerns about the lack of sufficient provision for independence of the central bank in the law. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-06T15:44:30Z 2010-07-02 2013-09-06T15:44:30Z 2007-04-07 2010-07-02 2010-04-01 Dissertation Tindleni, B 2006, Central bank independence in an inflation targeting regime : an assessment of South Africa’s central bank independence, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/23690 > G10/275/ag http://hdl.handle.net/2263/23690 http://upetd.up.ac.za/thesis/available/etd-04012010-124953/ © 2006 , University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria application/pdf University of Pretoria |
| spellingShingle | UCTD Banks and banking Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title | Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title_full | Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title_fullStr | Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title_full_unstemmed | Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title_short | Central bank independence in an inflation targeting regime : an assessment of South Africa's central Bank independence |
| title_sort | central bank independence in an inflation targeting regime an assessment of south africa s central bank independence |
| topic | UCTD Banks and banking |
| url | http://hdl.handle.net/2263/23690 http://upetd.up.ac.za/thesis/available/etd-04012010-124953/ |