The widely cited measures of de jure independence are of limited use in establishing a relationship between central bank institutional design and price stability because they do not measure or even approximate de facto independence
Note that these changes in de facto independence
can be driven either by the executive branch or the central bank, or both.
Second, de facto independence
is measured by a survey of monetary policy specialists in 23 countries; however, the survey responses are subjective, the survey results are subject to small sample size problems and the resulting measures of independence represent limited time periods.
of Exeter, UK) as having achieved de facto independence
, including control over most claimed territory for at least two years; lack of very broad international recognition (Abkhazia and South Ossetia are included, for example because they are only recognized by their patron Russia and three other states, as is Kosovo, which has been recognized by over 70 states); and a demonstrated aspiration for full, de jure, independence.
Indeed, an independent South Sudan is expected to grant diplomatic recognition to Somaliland, the successful and stable former British protectorate that has had de facto independence
from the rest of Somalia since 1991.
Yet, incredibly, Chechen fighters defeated RussiaAEs army and won de facto independence
Beijing threatens to attack if Taiwan moves to formalize its de facto independence
Since Ma took office last year, cross-strait relations have turned a corner, as Ma has increasingly de-emphasized Taiwan's sovereignty as a means to woo China, which rankles over Taiwan's de facto independence
and the pro-sovereignty rhetoric of Ma's predecessors.
Duncan also dispelled rumours that the date on which the so-called 'TRNC' declared its de facto independence
would also be marked as a holiday in the school calendar.
In fact, such has been the case since Kurdistan acquired a sort of de facto independence
in 1991, with those two parties being regularly voted into power - first separately, and now collectively - that they have almost established a sense of predictable complacency.
China has repeatedly warned that any Taiwanese moves to formalise its de facto independence
could be met with war.
Interest centres on the Russians of southern and eastern Ukraine, and on Transdniestria, which would love its de facto independence
from Moldova to be formally recognised by Russia.
The two regions are internationally recognised as part of Georgia, but they have enjoyed de facto independence
since breaking from Tbilisi's control in the early 1990s.
Saakashvili last week ordered Georgian troops into the tiny enclave of South Ossetia, which has maintained de facto independence
since 1992, in a bid to restore "constitutional order".
The conflict began on Friday when Georgia launched a largescale military operation to retake South Ossetia, which has had de facto independence