Cover of: democratic accountability of central banks | Fabian Amtenbrink

democratic accountability of central banks

a comparative study of the European Central Bank
  • 417 Pages
  • 3.54 MB
  • English
Hart Pub. , Oxford, Portland, Or
European Central Bank., European System of Central Banks., Monetary policy -- European Union countries., Banks and banking, Central -- Cross-cultural studies., Banks and banking, Central -- European Union countries., Administrative responsibility -- European Union count


European Union count

StatementFabian Amtenbrink.
LC ClassificationsHG925 .A96 1999
The Physical Object
Paginationxlii, 417 p. ;
ID Numbers
Open LibraryOL6891107M
ISBN 101841130427
LC Control Number00551056

The Democratic Accountability of Central Banks by Fabian Amtenbrink,available at Book Depository with free delivery worldwide.

The study offers an explanation of what the concept means in the context of central banks, and suggests criteria by which the democratic accountability democratic accountability of central banks book be evaluated. The present system of democratic accountability in a number of central bank systems is scrutinized, and contrasted against possible future models for the by: Some academic literature maintains that high independent central banks are characterised by low democratic accountability.

In this paper, we try to improve previous studies, using an alternative.

Details democratic accountability of central banks FB2

Get this from democratic accountability of central banks book library. The democratic accountability of central banks: a comparative study of the European Central Bank. [Fabian Amtenbrink] -- "The question of central bank independence and its impact on economic performance has been closely studied, and evidence has emerged of a global trend towards more independent central banks.

However. Democratic accountability and central bank independence: A response to Elgie Article (PDF Available) in West European Politics 23(3) July with Reads How we measure 'reads'. (Banque Centrale du Congo) B.P. Boulevard Colonel Tshatshi Kinshasa-Gombe Democratic Republic of Congo Telex // Telephone.

Goal independence for central banks--the freedom of the central bank to set its own goals--is difficult to justify in a democratic society, but, as I will argue today, instrument independence--the ability of the central bank to determine the appropriate settings of monetary policy without interference--is vital for economic stability.

Downloadable. The first part of this paper outlines the concept of democratic accountability of central banks, and compares the legal accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve System).

In the second part, we present a theory of central bank accountability. Two aspects of accountability are considered. The consensus that surrounded the granting of central bank independence in the pursuit of a price stability oriented monetary policy has been challenged in the aftermath of the global financial crisis, in the light of the rise of populism on the one hand and the expanded mandates of central banks on the other hand.

After considering the economic case for independence and the three Ds Cited by: Central bank to the European Union: European Monetary Institute, European System of Central Banks, European Central Bank: structures, tasks, and functions by Ralph J Mehnert-Meland (Book) The democratic accountability of central banks: a comparative study of the European Central Bank by Fabian Amtenbrink (Book).

Latest Central Bank of the Democratic Republic of Congo articles on Central Banks Policy, Regulation, Markets & Institutions. And studies have confirmed that independent central banks are good for controlling inflation. But note that this independence isn’t democratic accountability either, but instead a deferral to expert guidance.

Electoral democratic accountability over the money supply appears not to be part of the choice set of good governance. The impending establishment of the European Central Bank (ECB) brings a dramatic transition: the introduction of a single European Community (EC) currency.

The European Central Bank describes and analyses, from the perspective of the General Counsel of the Dutch Central Bank, the objectives and tasks entrusted to the ECB and the instruments with which the ECB has been endowed in order to. In turn, transparency provides an essential basis for accountability and democratic legitimacy by enabling effective legislative oversight and keeping the public informed.

4 Of course, central banks also need to stick closely to our mandates; the case for independence weakens to the extent that central banks stray into issues that the.

Downloadable. The European Central Bank (ECB) is considered to be an institution with a high level of accountability compared with other central banks. However, the matter has yet to be investigated in practice.

Accountability of the ECB will have to be checked by governing bodies both within and outside the ECB as well as the public. A survey is undertaken of the main reasons for central bank. Bringing accountability to powerful, unelected officials The idea that central banks can determine rates of inflation but cannot over the long term affect real economic performance has been.

thoughts on the governance and democratic accountability of central banks in the area of liquidity insurance. The underlying theme is legitimacy: how to ensure that the central banks’ role of LOLR is legitimate in democratic societies where powers and responsibilities have in effect been delegated by the elected by:   The sober version of that issue is that domestic democratic responsibility and accountability might in practice be closed off by the modalities of international policy making on the monetary system, symbolized by closed-door meetings at the central bankers’ Basel Tower headquarters.

Description democratic accountability of central banks FB2

BOOK REVIEW ESSAY THE POLITICS OF INDEPENDENT CENTRAL BANKS Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality Christopher Adolph CambridgeUniversityPress,pp.,£(pb),ISBN– The Power and Independence of the Federal Reserve Peter Conti-Brown.

for transparency resting on arguments for democratic accountability and policy effectiveness. They review the communications practices of a number of central banks, focusing on such things as the post-meeting statement, publication of meeting minutes and transcripts, publication of forecasts, and so Size: KB.

The Financial Times has an article that discusses how central banks could give away money during a recession, in order to stimulate the economy. In the past, central banks set the price of money using interest rates.

In the future, it seems, they will be giving it away One problem with this common sense idea is its simplicity, which rarely appeals to economists charged with taking. This book argues that all central banks need to operate under democratic control and should not be independent, because if they are, they may (as the BoJ did) adopt and practise policies to the detriment of the economy and to all those who make their living by working in it.5/5(7).

This article focuses on the governance of national or supranational central banks, and discusses the important elements of governance, which include independence, accountability, and transparency.

Download democratic accountability of central banks PDF

It explains the distinction of these elements from others that pertain to the internal governance of the central bank's monetary policy : Ellen E. Meade. The book is titled The Political Economy Of Central Banking and is composed of 23 essays on the role of the central bank in the economy.

Joining me now to discuss his book. The study offers an explanation of what the concept means in the context of central banks, and suggests criteria by which the democratic accountability can be evaluated.

The present system of democratic accountability in a number of central bank systems is scrutinized, and contrasted against possible future models for the ECB. Central banks that once steeled themselves for the fight against inflation now struggle to avoid deflation.

and rules limits their democratic accountability. That was the explicit intention of. This is complemented by a consideration of external constraints, such as courts, central banks, corporatism, and the European Union, which can impinge on national-level democratic delegation.

The concluding chapters go on to consider how well the problems of delegation and accountability are solved in these countries. As the role of central banks has expanded, the pressure on them has exposed the tension between the veneer of independence and the demands of democratic accountability.

So transformed by the crisis is the role of central banks, it seems hard to remember when they were fully occupied with the now seemingly simple task of tweaking their policy. While unconventional monetary policy and financial supervision offer short-term benefits, they create future uncertainty and raise questions of political accountability.

This paper argues that central banks will need to channel contestation over monetary policy into a more conventional political arena if they are to maintain their democratic.

By Steven Solomon Simon & Schuster pages. For anyone interested in the Federal Reserve and the ongoing public policy debates regarding the appropriate degree of independence and accountability for a central bank in a democratic society, The Confidence Game, by Steven Solomon is must on interviews with over senior central bank and government officials from around the world.

The point of democratic accountability through the European Parliament was to establish a dialogue so that the Bank could explain the background to policy making.Democracy and Governance in Africa Africa's continuing reliance on foreign aid has increased the opportunities for bilateral and multilateral aid agencies to influence policy making in the region.

The major donors have been meeting frequently in order to discuss development and debt problems and to devise aid strategies for African governments.Federal Central Banks is a unique study that critically examines the role and impact of central banks in federal and confederal political systems.

It conducts a detailed examination of the history, design and operation of central banking in the United States and in the European Union.

The contradiction between the centralizing features of banking and [ ].