Improving the Management of a Central Bank: A Case Study

54 Pages Posted: 15 Feb 2006

See all articles by John Mendzela

John Mendzela

affiliation not provided to SSRN

Date Written: April 1994


This paper examines how major efficiency gains and improved effectiveness were simultaneously achieved at the Reserve Bank of New Zealand over a five-year period. It identifies the business management concepts that were used to transform the organization, outlines how they were applied, and evaluates the benefits obtained. The paper concludes that substantial real efficiency gains were achieved, while effectiveness was maintained or enhanced. Looking more widely, the business management concepts used to achieve these benefits could be applied to other central banks.

JEL Classification: G20, M10, M12, M14, M19, M41, N20, N27, O20, O29

Suggested Citation

Mendzela, John, Improving the Management of a Central Bank: A Case Study (April 1994). IMF Working Paper No. 94/37, Available at SSRN:

John Mendzela (Contact Author)

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