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Financial Stability And Central Bank Transparency In Europe

Author

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  • Bogdan Capraru

    (Faculty of Economics and Business Administration, "Al. I. Cuza" University, Iasi, Romania)

Abstract

In this paper we assess the transparency level in the field of financial stability, using the Sotom-ska-Krzysztofik and Szczepanska index for the central banks from the European Union countries and European Central Bank (ECB) – 28 central banks, Norway, Switzerland, Iceland, Russia and 3 candi-dates to EU: Turkey, Macedonia and Croatia, totally 35 central banks. Also, we do a comparison between our results in 2010 and Sotomska-Krzysztofik and Szczepanska calculation in 2004, for the central banks that was commonly assessed. We conclude that the preoccupations of central bank communication policy in the field of financial stability have increased in the last period. The main factors that have been influencing these trends were the process of European integration and the actual international financial crises.

Suggested Citation

  • Bogdan Capraru, 2010. "Financial Stability And Central Bank Transparency In Europe," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 95-108, november.
    • Handle: RePEc:aic:journl:y:2010:v:57:p:95-108
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    References listed on IDEAS

    as
    1. Jakob De Haan & Fabian Amtenbrink & Sandra Waller, 2004. "The Transparency and Credibility of the European Central Bank," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 775-794, November.
    2. Jakob Haan & Sander Oosterloo, 2006. "Transparency and accountability of central banks in their role of financial stability supervisor in OECD countries," European Journal of Law and Economics, Springer, vol. 22(3), pages 255-271, November.
    3. Lorenzo Bini-Smaghi & Daniel Gros, 2001. "Is the ECB Sufficiently Accountable and Transparent?," Economics Working Papers 007, European Network of Economic Policy Research Institutes.
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    More about this item

    Keywords

    central bank transparency; financial stability; Sotomska-Krzysztofik and Szczepanska index;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

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