The Geopolitical Accountability of the Central Banks’ Gold Reserve

Rute Abreu () and Carlos Pinho ()
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Rute Abreu: Instituto Politécnico da Guarda, CICF-IPCA, CISeD-IPV, CiTUR
Carlos Pinho: Universidade de Aveiro, GOVCOPP; DEGEIT

A chapter in Building Global Societies Towards an ESG World, 2024, pp 93-108 from Springer

Abstract: Abstract Investment on gold as commodity carries risks and uncertainties for the economy and businesses. The gold price is volatile and investors’ expectations demand to fight against tendencies. Indeed, the best interests of stakeholders are expressed on the gold market security. Furthermore, this research is centered on the Central Bank’s gold reserve as critical asset on the international relations that ensures the accountability in their decision-making process. The research will answer the question: Is there geopolitical accountability in relation with the Central Banks’ Gold Reserve? The methodology of the research is subdivided based on the theoretical analysis supported by the literature review of the accounting information system of central banks, and also reports, documents and statistics published by different entities. Additionally, the geopolitical accountability justifies the conceptual framework under discussion. The empirical analysis is based on the case study methodology that highlights, through the visual and content analysis, different strategic approaches to recognize the responsibility in the implementation of sustainable policies and accountability strategies of central banks. Section 1 details the introduction. Section 2 presents the literature review of the theoretical framework of the gold reserve. Section 3 presents an empirical analysis of the Annual Report of the central banks of the European Union Member-States. The last section discusses the geopolitical accountability of gold reserves. The geopolitical accountability of central banks’ gold reserve is complex, multifaceted, and its sustainability plays a significant role. It is important for stakeholders (governments, regulatory bodies, and the gold industry) to work together to ensure that the use of gold reserve is accountable, increase the stability, and reduce tensions with the promotion of responsible practices.

Keywords: Gold; Geopolitical Accountability; Sustainability; Central Banks (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-56619-6_6

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DOI: 10.1007/978-3-031-56619-6_6

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