Social Responsibility in the Operation of Central Banks

Csaba Lentner (), Krisztina Szegedi () and Tibor Tatay ()
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Csaba Lentner: National University of Public Service
Krisztina Szegedi: University of Miskolc
Tibor Tatay: Széchenyi István University

Financial and Economic Review, 2017, vol. 16, issue 2, 64–85

Abstract: In our study, we set out from the hypothesis that the social responsibility of central banks is peculiar, since these were established decidedly for the benefit of the common good. For the interpretation of their social responsibility, we first examine the concept of corporate social responsibility (CSR) in corporate practice. After this, we transpose the interpretation of CSR, applied to the operation of central banks. We interpret the concept of economic, legal, ethical and philanthropic responsibility in connection with the activity of central banks. Using examples, we shed light on how we specifically interpret the individual components of corporate social responsibility in the central bank practice, via the activity of the Magyar Nemzeti Bank, the US Federal Reserve, the European Central Bank, and the central banks of the Netherlands, Denmark, Spain, Poland and the Czech Republic.

Keywords: corporate social responsibility; CSR; central bank; public awareness; financial stability; business ethics; central bank (search for similar items in EconPapers)
JEL-codes: E44 E58 G28 M14 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:mnb:finrev:v:16:y:2017:i:2:p:64-85

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