Central banks

Fontan, Clément;Antoine de Cabanes;et.al.
(2022) Handbook of Regulatory Authorities — ISBN: [9781839108983], p. 528, published

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Abstract
Do central banks have a place in a handbook on regulatory agencies? While this question might sound provocative given the presence of our chapter in this volume, a quick look back at past academic debates reminds us that there is no easy answer. Before the early 1990s, the vast majority of central banks were deeply embedded within the state apparatus and could hardly be categorized as “agencies”(Singleton 2011). While this situation changed with the isolation of central banks from political pressures and the rise of the “regulatory state”, the academic literature on the topic often excluded central banks from their analysis (Majone 1994, Moran 2001). More precisely, Majone (2001, p. 105) argued that agency theories were ill equipped to grasp the relationships between central banks and political authorities
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Fontan, C., Antoine de Cabanes, & et al. (2022). Central banks. In Martino Maggetti, Associate Professor of Political Science, University of Lausanne, Switzerland, Fabrizio Di Mascio, Professor o (ed.), Handbook of Regulatory Authorities (p. p. 528). Edward Elgar. https://hdl.handle.net/2078.5/224020