Outsourcing central banking

OPEN ARCHIVE

Union Jack
Dannebrog

Outsourcing central banking

Show simple item record

dc.contributor.author Khoury, Sarkis Joseph en_US
dc.contributor.author Wihlborg, Clas en_US
dc.date.accessioned 2009-02-04T10:26:18Z
dc.date.available 2009-02-04T10:26:18Z
dc.date.issued 2005-12-09T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/7168
dc.description.abstract The literature on Currency Boards (CB) stops at the water edge in terms of dealing with the totality of the functions of a central bank. Monetary policy, and banking supervision can be "outsourced" in an open economy with substantial foreign direct investment (FDI) in the banking sector if political nationalism does not trump economic rationality. An orthodox CB renders the central banking function redundant in terms of interest rate and exchange rate determination. FDI in banking could perform the same role for the supervisory function of central banks. We use the case of Estonia to illustrate the feasibility of, and constraints on, outsourcing of central bank functions. A brief discussion of the Argentinian experience is used for contrast. Key words: Currency Board, Foreign Banks, Supervision, Regional Integration,outsourcing. en_US
dc.format.extent 54 s. en_US
dc.language eng en_US
dc.relation.ispartofseries LEFIC Working paper;2005-003 en_US
dc.title Outsourcing central banking en_US
dc.type wp en_US
dc.accessionstatus modt05dec09 miel en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Finansiering en_US
dc.contributor.departmentshort FI en_US
dc.contributor.departmentuk Department of Finance en_US
dc.contributor.departmentukshort FI en_US
dc.description.notes In memory of Vello Vensel, 1941-2004 en_US
dc.idnumber x656504179 en_US
dc.publisher.city København en_US
dc.publisher.year 2005 en_US
dc.title.subtitle Lessons from Estonia en_US


Creative Commons License This work is licensed under a Creative Commons License.

Files Size Format View
wplefic032005.pdf 263.8Kb PDF View/Open

This item appears in the following Collection(s)

Show simple item record