Abstract

Central bank independence (CBI) has been a prominent topic for decades, but remains relatively unexplored in the history of economic thought. Relevant literature is scarce and focuses on the post-war period. To extend this literature, I argue that there was a doctrine of CBI in the 1920s. I examine its development from an international recommendation and a principle of the central banking doctrine designed by the British governor Norman to the elaborate doctrine of Kisch & Elkin. The paper’s main contribution is a detailed analysis of the doctrine of CBI provided in their reference book on central banking.

中文翻译：

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中央银行独立，经济思想史上一个并不新鲜的概念：1920 年代的学说

摘要

几十年来，中央银行独立性 (CBI) 一直是一个突出的话题，但在经济思想史上仍然相对未被探索。相关文献稀缺，主要集中在战后时期。为了扩展这些文献，我认为 1920 年代存在 CBI 学说。我考察了它从国际建议和英国总督诺曼设计的中央银行学说原则到 Kisch & Elkin 精心设计的学说的发展。该论文的主要贡献是详细分析了他们关于中央银行的参考书中提供的 CBI 学说。