EVALUATION OF THE DEGREE OF INDEPENDENCE OF THE CENTRAL BANK OF THE ISLAMIC REPUBLIC OF IRAN AND COMPARING IT WITH OTHER

This research has developed a combined index consisting of 27 variables in six areas affecting the autonomy of the Central Bank. In this model, each field has carefully been defined to avoid any problem of interference concepts and overlap variables. Also, in this way, it will be possible to assess the autonomy of Central Bank, both in general and in specific sectors as well. The extracted model is able to assess the economic independence of central banks in any economy and because of its holistic approach, has superiority over earlier models.

This research has developed a combined index consisting of 27 variables in six areas affecting the autonomy of the Central Bank. In this model, each field has carefully been defined to avoid any problem of interference concepts and overlap variables. Also, in this way, it will be possible to assess the autonomy of Central Bank, both in general and in specific sectors as well. The extracted model is able to assess the economic independence of central banks in any economy and because of its holistic approach, has superiority over earlier models.