CBI data
***NEW VERSION OF THE DATA*** January 2023
This version 2 of the dataset covers 190 countries, between 1970 and 2012.
It includes 426 new observations with scores for the components and the indices;
and corrections based on legislation retrieved between 2018 and 2022.
Here you will find the last 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 2012.
Users of the data should cite:
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 last version of the data?
Here, you can find a LAST VERSION of the dataset (version 2) in Stata (.dta) or in Excel with 2023 corrections.(*)
The paper describing the data is here, with the online appendix.
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. Scores were rounded to the fifth decimal.
2. Corrections correspond to newly found 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.
3. The correlation between the old and new version of the weighted index (lvaw_garriga) is 0.9776. The variable with the lowest correlation between versions of the data is CB objective (cuk_obj) =0.9494.
I am working to update this dataset. Any update or new version will appear in this page.
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