Research Discussion Papers, Bank of Finland
No 29/2008:
Central bank institutional structure and effective central banking: cross-country empirical evidence
Iftekhar Hasan ()
and Loretta Mester ()
Abstract: Over the last decade, the legal and institutional
frameworks governing central banks and financial market regulatory
authorities throughout the world have undergone significant changes. This
has created new interest in better understanding the roles played by
organizational structures, accountability and transparency in increasing
the efficiency and effectiveness of central banks in achieving their
objectives and ultimately yielding better economic outcomes. Although much
has been written pointing out the potential role institutional form can
play in central bank performance, little empirical work has been done to
investigate the hypothesis that institutional form is related to
performance. This paper attempts to help fill this void.
Keywords: central banking; institutional structure; accountability; transparency; performance; (follow links to similar papers)
JEL-Codes: E52; E58; (follow links to similar papers)
38 pages, December 5, 2008
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- This paper is published as:
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Hasan, Iftekhar and Loretta Mester, (2008), 'Central bank institutional structure and effective central banking: cross-country empirical evidence', Comparative Economic Studies, Vol. 50, December, pages 620-645
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