Central Bank Independence in the European Union

Bruni, Franco

doi:10.1007/978-1-349-25382-1_11

Cited by 6 publications

(3 citation statements)

References 7 publications

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“…A second important cost, as stressed in Cukierman (1992) and Bruni (1997) among others, stems from the fact that a wider central bank role increases the risk that its functions will be subject to political pressures or political control. This argument seems particularly relevant in the case of the LAC countries.…”

Section: Monetary Policy Issuesmentioning

confidence: 99%

What are the perils of separating banking regulation from the central bank's orbit in Latin America and the Caribbean?

Demaestri

Guerrero²

2006

Journal of Financial Regulation and Compliance

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PurposeAims to review the potential risks associated with the separation of banking regulation from the orbit of the central bank in Latin‐American and Caribbean countries (LAC).Design/methodology/approachSets out information on the banking regulators in LAC and on the current degree of involvement of the central bank in banking regulation; the main monetary policy issues connected to the separation of banking regulation from the central bank; and the main banking regulation issues involved.FindingsThe separation of banking regulation from the central bank would not present any great danger to LAC currently. However, the need to conduct the move in accordance with best principles must be emphasized.Originality/valueGiven the fertile ground offered by the countries of LAC, this paper presents arguably the most comprehensive examination to date of this “hot potato”.

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Section: Monetary Policy Issuesmentioning

confidence: 99%

What are the perils of separating banking regulation from the central bank's orbit in Latin America and the Caribbean?

Demaestri

Guerrero²

2006

Journal of Financial Regulation and Compliance

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Section: Financial Supervision: Integrated or Specialized?mentioning

confidence: 99%

Financial Supervision: Integrated or Specialized? The case of Latin America and the Caribbean

Demaestri¹,

Guerrero²

2005

Financial Markets Inst & Instr

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This paper discusses the relative merits of the two approaches of financial regulation and supervision for the case of Latin America and the Caribbean (LAC). In doing so, it reviews the main arguments advanced in the specialized literature in pro and against of each approach. All the theoretical arguments are contrasted with available country experiences from around the world and discussed with a focus on the Latin American and Caribbean countries. A methodology to analyze the efficacy and the efficiency of each approach in meeting the main objectives of financial regulation is also provided. The paper concludes that in the present circumstances, the net benefits of adopting an integrated approach probably exceed the net benefits stemming from the adoption of a specialized approach for most of the countries in the region.

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“…This is an argument that gets quite a lot of air-time from some economists, 23 but not one that I find appealing. On this, see Bruni (1997), especially Section 3, pp. 350-4, and the comments of his discussant, Briault.…”

Section: D) Conflicts Of Interestmentioning

confidence: 99%

The organisational structure of banking supervision

2001

Financial Stability and Central Banks

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Before joining the LSE in 1985, he worked at the Bank of England for seventeen years as a monetary adviser, becoming a Chief Adviser in 1980. In 1997 he was appointed one of the outside independent members of the Bank of England's new Monetary Policy Committee until May 2000. Earlier he had taught at Cambridge and LSE. Besides numerous articles, he has written a couple of books on monetary history, and a graduate monetary textbook, Money, Information and Uncertainty (2nd Ed. 1989); and has published two collections of papers on monetary policy, Monetary Theory and Practice (1984) and The Central Bank and The Financial System (1995); and an institutional study of The Evolution of Central Banks, revised and republished (MIT Press) in 1988.

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Central Bank Independence in the European Union

Cited by 6 publications

References 7 publications

What are the perils of separating banking regulation from the central bank's orbit in Latin America and the Caribbean?

What are the perils of separating banking regulation from the central bank's orbit in Latin America and the Caribbean?

Financial Supervision: Integrated or Specialized? The case of Latin America and the Caribbean

The organisational structure of banking supervision

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