Proceedings of 5th European Business Research Conference
10 - 11 September 2015, St. Regis Hotel, Rome, Italy, ISBN: 978-1-922069-83-2
Accessing Central Bank Independence and Transparency: The
Case of Bank Al-Maghrib
Daniel A. Sauers* and Youssef Loutfi**
This paper reports measures of independence and
transparency for Bank Al-Maghrib, Morocco’s central bank.
Comparisons are made with previously published measures
of independence and transparency for more than 100 central
banks. The results show that Bank AL-Maghrib has greater
independence compared to some of the most reputable
central banks in the world; however, it lags those same
banks when it comes to transparency. The implications of
the findings for the continuing central bank reform efforts in
Morocco are discussed.
JEL Codes: EO, E4, F0
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*Daniel A. Sauers, Professor of Management, College of Business, Winona State University, MN, USA Email:
dsauers@winona.edu
**Youssef Loutfi, Graduate Assistant, Al Akhawayn University, Ifrane, Morocco Email: Y.Loutfi@aui.ma