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Central bank independence in the Pacific Island countries: a case study of Vanuatu

Jayaraman, Tiruvalangadu K. (2001) Central bank independence in the Pacific Island countries: a case study of Vanuatu. Public Organization Review, 1 (2). pp. 261-278. ISSN 1566-7170

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Abstract

Central banks are an important element of governance in most countries, although surprisingly neglected in the public administration literature. The South Pacific island nations have established central banks for regulating their payment systems and financial and banking sectors. They are pursuing monetary policies towards the objectives of growth and price stability under fixed exchange rate regimes. Although these bank authorities have been given enough powers to assert themselves under the relevant statutes, institutional experiences indicate that some of these powers are eroded over time by political interference, as well as by acts of omission and commission by officials both in the central banks and in governments. This is illustrated by particular reference to the case of Vanuatu, a young South Pacific republic.

Item Type: Journal Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Mereoni Camailakeba
Date Deposited: 18 Nov 2001 09:25
Last Modified: 10 Jul 2012 20:02
URI: http://repository.usp.ac.fj/id/eprint/2782
UNSPECIFIED

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