Central Bank Independence – From the European Union Law to the Czech Republic Example

Kohajda Michael ()
Additional contact information
Kohajda Michael: Assoc. prof. JUDr. Michael Kohajda, Ph.D., Department of Administrative Law and Financial Law, Faculty of Law, Palacký University Olomouc.

European Studies - The Review of European Law, Economics and Politics, 2022, vol. 9, issue 1, 234-244

Abstract: This article defines the basic kinds of central bank independence as generally accepted by the professional community. Then, for each of the kinds, their content and their fulfilment in the law of the Czech Republic are discussed. Of course, the legal regulation of the Czech National Bank as a central bank of a Member State of the European Union must meet the basic requirements of E.U. law for the independent status of central banks. However, the degree and manner of fulfilling these requirements beyond the basis of E.U. law vary from one Member State to another. The Czech National Bank is endowed with a high degree of independence, partly because of its establishment in the late 1990s. Despite this, some questions relating to its independence remain unanswered. This paper may thus also serve as a source of information for other authors to compare the regulation of the independent status of the central bank of their countries in comparison with the Czech National Bank.

Keywords: Budgetary Independence; Central Bank; European Central Bank; Financial Independence; Functional Independence; Institutional Independence; Independence of Central Banks; Personnel Independence (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/eustu-2022-0011 (text/html)

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:vrs:eurstu:v:9:y:2022:i:1:p:234-244:n:7

DOI: 10.2478/eustu-2022-0011

Access Statistics for this article

European Studies - The Review of European Law, Economics and Politics is currently edited by Nadežda Šišková

More articles in European Studies - The Review of European Law, Economics and Politics from Sciendo
Bibliographic data for series maintained by Peter Golla ().