Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

IMF Working Papers, May 1, 2017

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Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

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Bibliographic details

• Authors: Ashraf Khan
• Published: May 1, 2017
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781475595802.001

Overview and scope

• Paper author: Ashraf Khan
• Publication date: May 1, 2017
• Based on: 2016 update of the IMF’s Central Bank Legislation Database
• Format: IMF Working Paper
• Pages: 41
• Volume: 2017
• Issue: 101
• Series: Working Paper No. 2017/101
• DOI: https://doi.org/10.5089/9781475595802.001
• Stock No: WPIEA2017101
• ISBN: 9781475595802
• ISSN: 1018-5941

Key findings from the cross-country analysis

• Many central bank laws have undergone changes in:
  • objectives
  • decision-making
  • accountability
  • data collection
• Common occurrence:
  • price stability appears frequently among central bank objectives
• Variation in legal and institutional design:
  • differing practices in defining financial stability
  • differing uses of the terms “independence” versus “autonomy”
  • variation in who within a central bank determines monetary policy
• The paper highlights select country examples to illustrate these changes and differences.

Uses of the Central Bank Legislation Database

• Provides documented facts that:
  • illustrate differences in legal frameworks before and after the Global Financial Crisis
  • can serve as a starting point for further analyses

Subject classifications and keywords

• Subjects:
  • Banking
  • Central bank legislation
  • Central bank mandate
  • Central banks
  • Financial sector policy and analysis
  • Financial sector stability
  • Legal support in revenue administration
  • Price stabilization
  • Prices
  • Revenue administration
• Keywords:
  • advisory council
  • article
  • autonomy
  • bank
  • banking services review panel
  • Board of the bank
  • CBLD finding
  • central bank
  • central bank law
  • central bank law database
  • central bank laws of the country
  • Central bank legislation
  • Central bank mandate
  • central bank topic
  • Central banking
  • committee
  • country
  • currency board arrangement
  • database in the world
  • deputy governor
  • executive management
  • financial crisis
  • Financial sector stability
  • financial stability
  • financial supervision
  • financial system
  • Global
  • governance
  • government
  • independence
  • law
  • Legal support in revenue administration
  • monetary policy
  • Price stabilization
  • WP

Source: IMF Working Papers — "Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis" (Ashraf Khan), May 1, 2017.

Content in this bundle

• Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis, WP/17/101, May 2017
  • Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis, WP/17/101, May 2017 (Markdown version)
  • Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis, WP/17/101, May 2017 (PDF)