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RePEcRisk, Credit & Banking

Central Bank Independence and Sovereign Borrowing

Tighter statutory constraints on central bank lending to government reduce real borrowing costs in developing economies while raising debt-to-GDP, with effects strongest where credibility gains matter most.

Featured in No. 138 on 6 Nov 2026 · 4 days after release

Histogram of central bank lending reforms over time with cumulative reform count trend lines.
Figure 1: Reforms increasing or decreasing the central bank’s lending limits to the govern- ment (1972-2023)
Released
2 Nov 2026
First featured
No. 138 · 6 Nov 2026
Published in
Not yet, as far as Semantic Scholar knows
Fanfare
3 of 5
Identifier
RePEc:tcd:tcduee:tep2226
Authors
Angelos Athanasopoulos et al.

Citations and venue from Semantic Scholar (ODC-BY), refreshed weekly. Summary: Quant Letter (CC BY 4.0).

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