Trends in Central Bank Transparency

Abstract

In this paper we have updated Central Bank Transparency Index from 2011 to 2016, following the methodology of Eijffinger and Geraats (2006) [1]. Then, we break down the index’s aspects and we analyze which are more likely to be changed through time. This, in respect to the annual data we have collected, makes clearer how the recent financial crisis has affected the Central Banks’ transparency trend and offers interesting insights for monetary policy transmission. Also, we divided the countries into developed, emerging and frontiers, as there is difference in their indexes changes, probably related to their economic and financial development.