Monday, January 28, 2013

Stiglitz Against Central Bank Independence

In the crisis, countries with less independent central banks-China, India, and Brazil-did far, far better than countries with more independent central banks, Europe and the United States. There is no such thing as truly independent institutions. All public institutions are accountable, and the only question is to whom..

Less independent central banks did better in the financial crisis. They did what?

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