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

<p>This study aims to examine the effects of monetary policies implemented by developed countries and central bank independence of developing countries on the financial fragility of developing countries. According to the findings, it was seen that the contractionary monetary policies implemented by the central banks of developed countries increase the financial fragility for both groups of countries, as do the change of central bank governors. However, the change in governors strengthens positive effects of contractionary monetary policies on the financial fragility.</p>
</abstract>

This study aims to examine the effects of monetary policies implemented by developed countries and central bank independence of developing countries on the financial fragility of developing countries. According to the findings, it was seen that the contractionary monetary policies implemented by the central banks of developed countries increase the financial fragility for both groups of countries, as do the change of central bank governors. However, the change in governors strengthens positive effects of contractionary monetary policies on the financial fragility.

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence<sup><xref ref-type="fn" rid="j_jcbtb-2024-0005_fn_001">1</xref></sup>

Journal of Central Banking Theory and Practice

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

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence

This study aims to examine the effects of monetary policies implemented by developed countries and central bank independence of developing countries on the...

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence¹

Published Online: Jan 13, 2024

Page range: 89 - 116

Received: Dec 14, 2022

Accepted: Mar 31, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0005

© 2024 Bengü Tosun et al., published by Sciendo

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

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence1

Published Online: Jan 13, 2024

Page range: 89 - 116

Received: Dec 14, 2022

Accepted: Mar 31, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0005

© 2024 Bengü Tosun et al., published by Sciendo

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

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence¹