Title: New operation pattern of central banks:independence,accountability and transparency
Abstract: Since 1970s,many countries(especially developed countries) have improved the central banks operation to enhance the effect of monetary policy.There are three prominent changes in the central banks operation,i.e.increasing independence,acting accountability,and raising transparency.Under the condition of the central banks independence,it is a kind of mates for right and duty to require the central banks to be accountable for effect of monetary policy;accountability is a kind of balance mechanism to the independence;transparency is the necessary condition of accountability,which can strength the effectiveness of monetary policy.
Publication Year: 2009
Publication Date: 2009-01-01
Language: en
Type: article
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