Feature/Financial Stability
A BIS embarrassed
Defeat for the BIS by minor shareholders was embarrassing and it has consequences for central banks with private shareholders, reports William Hall.
Why price stability is not enough
The current fashion for inflation targetting ignores the perils of asset bubbles, and cannot react adequately to the fallout. A much longer view is needed, contends Stephen King.
Central role for ECCB
Michael Imeson looks at the economic problems facing the Organisation of Eastern Caribbean States, and what the Eastern Caribbean Central Bank is doing to help stimulate development.
The benefits of a broader Basel
Ignoring the benefits of a diversified portfolio will penalise developing markets, argue Stephany Griffith-Jones, Stephen Spratt and Miguel Segoviano.
How a central bank should talk
Tony Morrison of the Bank of Jamaica gives his view on how central banks should deal with the media. Reticence is not the answer.
Leadership and management of central banks
“Almost by definition, central banks lack comparative advantage in managing organisational change”, argues John Mendzela. In the second of two articles, he outlines measures of efficiency and performance.
How to reform the stability and growth pact
Willem Buiter proffers his alternatives to the “stupid” arrangement.
The euro goes East
Tommaso Padoa-Schioppa reports the results of a survey by the ECB on the private holdings and use of the euro outside the euro area itself.
Review of Financial crises and what to do about them
Barry Eichengreen finds a middle way between past policy failings and current lofty aims in his financial crisis handbook, says Benedict Mander.
Development of the Saudi banking system
SAMA has been actively involved in regulation and supervision, and has taken the lead in the development of the payments system in Saudi Arabia.
A new Bank of Mongolia
Bank of Mongolia has assumed a pivotal role in transforming the former planned economy, reports Blair Baker in Ulaanbaatar.
How to get growth in Japan
What Japan needs is a massive boost, not to the monetary base, but to domestic credit creation. Richard Werner outlines how this could be brought about.
The IMF’s assessment of central bank internal controls
The IMF has found many central banks of borrowing countries to be lacking certain key elements needed for effective internal control. A report by Ahmad Sartip.
Central banks on the web: why are we there?
Central banks must go beyond the minimum of data provision if they are to build an image and address the growing demands of their diverse audience, argues Brent Eades of the Bank of Canada.
The Polish conflict
Stanislaw Gomulka surveys the institutional causes and economic consequences of the bitter dispute between the government and central bank in Poland. The inexperience of both suggests a European solution.
Behind the scenes in Basel
Neil Courtis ventures into the BIS in Basel and finds an institution in the process of redefining its role.
The Euro 50 Group Roundtable: Challenges of accession: Estonia
Märten Ross, a deputy governor at the Bank of Estonia, considers alternative scenarios for joining the euro. After ten years’ experience of a currency board, Estonia is more than prepared to join.
Why Britain should not join the euro
Janet Bush rejects the economic benefits of monetary union and argues that there is insurmountable opposition to the necessary complementary institution, a European government.