Central Bank Governance: Evolution, Goals, and Crises

17 Pages Posted: 30 Jul 2016 Last revised: 9 Sep 2016

Date Written: July 1, 2016

Abstract

Governance: What and Why?

Corporate governance was discussed before the financial crises of earlier this century, but attention to it has increased dramatically since that crisis. What is governance, and why did it suddenly become so interesting?

The Oxford English Dictionary gives a comprehensive definition. It tells us governance has six meanings: the action or manner of governing; the state of being governed; the office, function, or power of governing; method of management, system of regulations; mode of living, behaviour, demeanour; wise self command.

Suggested Citation

Capie, Forrest and Wood, Geoffrey E., Central Bank Governance: Evolution, Goals, and Crises (July 1, 2016). BAFFI CAREFIN Centre Research Paper No. 2016-31, Available at SSRN: https://ssrn.com/abstract=2815826 or http://dx.doi.org/10.2139/ssrn.2815826

Forrest Capie (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom
020 7601 3680 (Phone)

Geoffrey E. Wood

Cass Business School ( email )

London, EC2Y 8HB
Great Britain
+44 0 20 7040 8740 (Phone)
+44 0 20 7040 8881 (Fax)

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