Central banks' independence in historical perspective


Modern central banks came of age in the inter-war period. By then, they valued their independence as an essential feature of central banking. Strong, Norman and Moreau were ready to stand by the freedom of their institutions at any price. And independence from national governments was considered a prerequisite for the admission to the club of central banks: they were unwilling, for instance, to enter into large commitments with the Bank of Italy so long as it remained under the dominance of Treasury.

Duke Authors

Cited Authors

  • Toniolo, G

Published Date

  • June 25, 2012

Start / End Page

  • 1 - 198

International Standard Book Number 13 (ISBN-13)

  • 9783110114409

Citation Source

  • Scopus