The Independence of the European Central Bank

Nezávislost evropské centrální banky

Matej Šandor

Acta Oeconomica Pragensia, 2013, vol. 2013, issue 1, 13-25

Abstract: The independence of central banks is a hot topic. In connection with the ongoing financial crisis, the media often come with concerns that central banks might be influenced by political elites. These considerations apply both to central banks of EU Member States and the European Central Bank. The aim of this paper is to prove or disprove the hypothesis of limited independence of the ECB. The main reason to focus primarily on the ECB is due to its leadership within the European System of Central Banks as well as due to the fact that any interference in its activities would affect mainly the functioning of the ESCB. The paper is divided into three parts. The first part deals with the theory of central banks' independence in general. The second part presents the issue of status and regulation of the ECB, and the last part applies the knowledge of the theory of independence of central banks to an evaluation of the independence of the ECB.

Keywords: European Central Bank; independence; European Union (search for similar items in EconPapers)
JEL-codes: E58 K40 (search for similar items in EconPapers)
Date: 2013
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://aop.vse.cz/doi/10.18267/j.aop.390.html (text/html)
http://aop.vse.cz/doi/10.18267/j.aop.390.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlaop:v:2013:y:2013:i:1:id:390:p:13-25

Ordering information: This journal article can be ordered from
Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
http://aop.vse.cz

DOI: 10.18267/j.aop.390

Access Statistics for this article

Acta Oeconomica Pragensia is currently edited by Klára Šimůnková

More articles in Acta Oeconomica Pragensia from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().