Central Bank Institutional Structure and Effective Central Banking: Cross Country Empirical Evidence

40 Pages Posted: 29 Apr 2008

See all articles by Iftekhar Hasan

Iftekhar Hasan

Fordham University - Gabelli School of Business; Bank of Finland

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland; University of Pennsylvania - The Wharton School

Date Written: April 2008

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 institution form is related to performance. This paper attempts to help fill this void.

Keywords: Banks and banking, Central

Suggested Citation

Hasan, Iftekhar and Mester, Loretta J., Central Bank Institutional Structure and Effective Central Banking: Cross Country Empirical Evidence (April 2008). FRB of Philadelphia Working Paper No. 08-5; BOFIT Discussion Paper No. 29/2008. Available at SSRN: https://ssrn.com/abstract=1124533 or http://dx.doi.org/10.2139/ssrn.1124533

Iftekhar Hasan (Contact Author)

Fordham University - Gabelli School of Business ( email )

Rose Hill Campus Bronx
New York, NY 10458
United States

Bank of Finland ( email )

P.O. Box 160
Helsinki 00101
Finland

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland ( email )

East 6th & Superior
Cleveland, OH 44101-1387
United States

University of Pennsylvania - The Wharton School

3641 Locust Walk
Philadelphia, PA 19104-6365
United States

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