Leadership and management of central banks

In the November issue of Central Banking I outlined a model for the development of a central bank through "three ages". In the "first age", the emphasis is on mainly operational functions, demanding administrative reliability; in the second policy functions, demanding diverse managerial and technical skills, come to the fore. In the third age, the emphasis is on "influencing" roles, demanding creativity and a flexible resource base. I described how the leadership and management practices that