Unveiling dependency: A critical look at Angola’s Central Bank autonomy

The aforementioned study takes an approach linked to the National Bank of Angola, on the topic of autonomy and dependence of the Central Bank of Angola, highlighting its objective of examining the relationship between the international reserves of the Central Bank of Angola (CBIR) and the ratio of GDP and the economic growth rate, by carrying out an extensive time series analysis from 1990 to 2023. The study aims to identify the short-term linkages and long-term equilibrium dynamics in Angola's economic landscape, focusing on understanding of the complex dynamics of these variables. The results show strong short-term correlations between the CBIR, the GDP ratio and the economic growth rate, suggesting possible adjustment processes and interactions between these variables. Furthermore, analysis of long-run equilibrium relationships reveals strong correlations between the GDP and CBIR relationship, indicating a noteworthy and affirmative relationship and its relationship with macroeconomic performance has been concentrated in the emerging markets of Asia and Latin America, as well as in the main industrialized nations. The correlation study highlights the complexity of Angola's economic dynamics, revealing only small connections between variables. These revelations have important ramifications for academics and politicians who want to support Angola's sustainable economic development.