Corporate Governance of Financial Stability

Financial stability has attracted the attention of central banks and policymakers for decades. The emphasis on the issue substantially increased after the global financial crisis. It led to new developments in the analytical field, as well as in the institutional area. This paper focuses on various...

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Bibliographic Details
Published inFinance a úvěr Vol. 71; no. 4; pp. 268 - 281
Main Author Tuma, Zdenek
Format Journal Article
LanguageEnglish
Published Prague Charles University, Faculty of Social Sciences 01.01.2021
Subjects
Central banks
Corporate governance
Decision making
Economic crisis
Enforcement
Inflation
International finance
Macroeconomics
Monetary policy
Supervision
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Summary:Financial stability has attracted the attention of central banks and policymakers for decades. The emphasis on the issue substantially increased after the global financial crisis. It led to new developments in the analytical field, as well as in the institutional area. This paper focuses on various aspects of institutional setups and compares two streams; one related to countries with separated supervision from the central bank, the other focusing on integrated supervision into the central bank. Institutional setups differ between these two regimes with the implications to internal corporate governance of central banks. We evaluate pros and cons of both systems and assess the impact on monetary policy and the inflation targeting framework.
ISSN:0015-1920
2464-7683
DOI:10.32065/CJEF.2021.04.01