Economics, Econometrics and Finance
4 years ago

Central bank governance structures crucial for global economic stability.

IMF Working Paper
Central Bank Governance: A Survey of Boards and Management
JoAnne Morris, Tonny Lybek

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Central banks around the world vary in how they are governed, with different structures, sizes, and compositions of their boards and management. A survey of 101 central bank laws from 113 countries shows that there is no one-size-fits-all approach to central bank governance. The key is to find a balance between autonomy, simplicity, and country-specific factors. The functions of the governing bodies depend on the level of autonomy given to the central bank.