<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Transparency in the work of central banks has become one of the key features of monetary policy. Because of this, many economists have diverted to finding the most suitable way to measure it. Although a unique method of measurement has yet to be achieved, there are various studies in the literature that deal with the calculation of the transparency index of central banks. Most studies have focused on measuring transparency of the largest central banks, while countries of the Western Balkans have been neglected. In the literature, there are no studies related to the analysis and measurement of transparency of the central banks in the Western Balkan countries. Starting from the index calculated by Eiffinger &amp; Geraats, this paper aims to calculate the transparency index for five central banks: the Central Bank of Montenegro, the Croatian National Bank, the Central Bank of Bosnia and Herzegovina, the National Bank of the Republic of North Macedonia, and the Bank of Albania.</p>
</abstract>

Transparency in the work of central banks has become one of the key features of monetary policy. Because of this, many economists have diverted to finding the most suitable way to measure it. Although a unique method of measurement has yet to be achieved, there are various studies in the literature that deal with the calculation of the transparency index of central banks. Most studies have focused on measuring transparency of the largest central banks, while countries of the Western Balkans have been neglected. In the literature, there are no studies related to the analysis and measurement of transparency of the central banks in the Western Balkan countries. Starting from the index calculated by Eiffinger & Geraats, this paper aims to calculate the transparency index for five central banks: the Central Bank of Montenegro, the Croatian National Bank, the Central Bank of Bosnia and Herzegovina, the National Bank of the Republic of North Macedonia, and the Bank of Albania.

Analysis of the Transparency Index of the Central Banks of the Western Balkan Countries

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution 4.0 International License.

Transparency in the work of central banks has become one of the key features of monetary policy. Because of this, many economists have diverted to finding the...

Analysis of the Transparency Index of the Central Banks of the Western Balkan Countries

Published Online: Jun 07, 2024

Page range: 109 - 128

Received: Sep 23, 2023

Accepted: Nov 02, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0015

Keywords
central bank transparency, central bank transparency index, monetary policy

© 2024 Vera Gojčaj, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Analysis of the Transparency Index of the Central Banks of the Western Balkan Countries

Published Online: Jun 07, 2024

Page range: 109 - 128

Received: Sep 23, 2023

Accepted: Nov 02, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0015

Keywordscentral bank transparency, central bank transparency index, monetary policy

© 2024 Vera Gojčaj, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
central bank transparency, central bank transparency index, monetary policy