In the last three decades, legal delegation of monetary policy to independent central banks (CBI) has achieved status a global norm good governance. The recent backlash against this independence is an important but understudied trend. Our article analyzes potential for reversals with focus on Latin America where CBI was effective in maintaining price stability, placed constraints governments. W...

very poor. Individuals in rural areas have hard time accessing education and health and are outside of the formal pension system. Public assistance safety nets are often implemented through community involvement, which also excludes the rural poor and urban indigents. In the final chapter, Alesina, Carrasquilla, and Roberto Steiner write about the Central Bank, its improvement in terms of indep...