Central banks on the move
By: MARCUSSEN, Martin
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Material type: 
ArticlePublisher: Philadelphia, PA : Routledge, 2005Subject(s): Banco Central | Condicionalidade | Convergência | Independência | AprendizagemJournal of European Public Policy 12, 5, p. 903 - 923 Abstract: More than 90 per cent of all independent states have established a central bank in some form or other. During the 1990s, a vast majority of all central banks underwent structural reforms, thus achieving a larger measure of legal independence. The article illustrates that the central bank case is particularly interesting since it demonstrates that different levels and dimensions of convergence and divergence are closely interrelated, and that it takes both demand- and supply-driven explanations to account for these change processes.
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More than 90 per cent of all independent states have established a central bank in some form or other. During the 1990s, a vast majority of all central banks underwent structural reforms, thus achieving a larger measure of legal independence. The article illustrates that the central bank case is particularly interesting since it demonstrates that different levels and dimensions of convergence and divergence are closely interrelated, and that it takes both demand- and supply-driven explanations to account for these change processes.
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