Abstract

AVELLA GOMEZ, Mauricio. Central Bank independence in Colombia since 1923. Institutional Issues. Rev.econ.inst. [online]. 2014, vol.16, n.30, pp.171-214. ISSN 0124-5996.

A recurrent issue in discussions on central banks is that of their relative independence in performing the traditional role of monetary stabilization. In the Colombian experience, this controversy has been invariably present in debates on reform proposals of the Banco de la República since its foundation in 1923. This paper reviews in a historical perspective, how the concept of central bank independence evolved when such reforms were made.

Keywords : Central Bank; independence; banking history; functions of central banks.

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