CBI data
***NEW DATA RELEASE - January, 2025***
Version 3 of the data covers 192 countries, between 1970 and 2023.
It includes 46% more observations than the 2016 release (*).
The paper describing the updated dataset until 2023 is here.
Source: Garriga (2025)
Here you will find the latest version of the data coding statutory reforms affecting central bank independence. The dataset includes the existence of central bank reforms, their direction, and the attributes necessary to build the Cukierman, Webb, and Neyapty (1992) index in the world, between 1970 and 2023.
The paper describing the data is here, with the online appendix. The paper describing the extended dataset is here.
Users of the data should cite:
Garriga, Ana Carolina. 2025. "Revisiting Central Bank Independence in the World: An Extended Dataset." Accepted at International Studies Quarterly. Available at http://dx.doi.org/10.2139/ssrn.4816563
Garriga, Ana Carolina. 2016. "Central Bank Independence in the World: A New Dataset." International Interactions 42 (5):849-868 doi: 10.1080/03050629.2016.1188813
How to get the latest version of the data?
In this page, you can find the LATEST VERSION of the dataset (version 3) in Stata (.dta) or in Excel. Any updates will be posted here.
You can also download the data from Quality of Government (weighted and unweighted indices in the Basic Data, all variables in the Standard Data).
1. The new dataset includes 2,693 additional observations coding formal attributes of CBI
2. Corrections correspond to newly found historical legislation or mistakes in the previous coding (i.e., reform coded a year off). Corrections affect 2.52% observations in the dataset. The figure shows countries affected by changes.
If you would like to suggest any correction to the data to be included in future releases, please contact me carolina.garriga[at]essex.ac.uk