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The Capital Needs of Central Banks (Paperback)
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The Capital Needs of Central Banks (Paperback)
Series: Routledge International Studies in Money and Banking
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Central banks have evolved over many years, and sometimes
centuries, as policy-making, not profit-making, institutions, and
yet they are structured legally and financially like 'for-profit'
companies of the twenty-first century. The question is what is an
appropriate level of equity, or capital, for a central bank to have
so that it can function for policy effectiveness over
profit-maximisation, without hindrance to the achievement and
maintenance of policy goals? This collection takes the reader
through historical, theoretical and factual discussions on why
central banks exist and the role - actual and intended - they have
in assisting their home nation in achieving monetary and financial
stability. The contributions analyse the different ways central
banks are funded and how funding arrangements may impact on their
independence. The objective is to explore these themes first from
the academic and practitioner's views - those of the economist,
accountant and lawyer's - and then to introduce practical
experiences from a range of different central banks, in terms of
their economic and socio-political environments. It will be the
first time that the theorist and practitioner, the accountant, the
economist and the lawyer come together in one volume. The reader
will be able to access the full breadth of views on this important
subject. The main observations are that there is no single,
quantifiable formula that central banks can use to calculate
capital levels. Factors to consider are the historical context of
central banks and whether capital was ever appropriate to needs at
their foundation; the cultural, social and political contexts; and,
in terms of the presentation of financial statements, profit and
loss sharing arrangements and what accounting conventions are being
used. If these are considered alongside the, often idiosyncratic,
mandates individual central banks have, a qualitative understanding
of what is an appropriate level of capital is achieved. This
collection will be of interest to postgraduates and researchers
focusing on the role of central banks in monetary economics; as
well as a professional audience of central bankers, the BIS, the
IMF, World Bank, EBRD and government departments.
General
Imprint: |
Routledge
|
Country of origin: |
United Kingdom |
Series: |
Routledge International Studies in Money and Banking |
Release date: |
November 2013 |
First published: |
2011 |
Editors: |
Sue Milton
• Peter Sinclair
|
Dimensions: |
234 x 156 x 10mm (L x W x T) |
Format: |
Paperback
|
Pages: |
224 |
ISBN-13: |
978-0-415-74537-6 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
0-415-74537-3 |
Barcode: |
9780415745376 |
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