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The Bank of Canada, Accountability and Legitimacy: Some Proposals for Reform

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  • J. Matthew Clark

Abstract

Criticisms of the Bank of Canada as unaccountable, insensitive to the needs of Canadians, and beholden to the wishes of central Canada reflect a growing animosity towards the Bank that should not be ignored nor taken lightly. The failure of the Bank of Canada to receive the diffuse support of societal interests and thus to be perceived as legitimate, threatens its ability to perform credible monetary policy and even its independence. In order to ensure that the ability to perform sound monetary policy in Canada is not jeopardized, certain reforms need to be made.

Suggested Citation

  • J. Matthew Clark, 1996. "The Bank of Canada, Accountability and Legitimacy: Some Proposals for Reform," Canadian Public Policy, University of Toronto Press, vol. 22(4), pages 330-341, December.
    • Handle: RePEc:cpp:issued:v:22:y:1996:i:4:p:330-341
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    References listed on IDEAS

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    1. Kurzer, Paulette, 1988. "The Politics of Central Banks: Austerity and Unemployment in Europe," Journal of Public Policy, Cambridge University Press, vol. 8(1), pages 21-48, January.
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    Cited by:

    1. Scott Aquanno & Jordan Brennan, 2016. "The Politics of Canadian Monetary Policy: Reassessing Canadian Inflation, Part II," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(3), pages 814-833, July.
    2. Francisco Ruge‐Murcia, 2022. "How do central banks make decisions?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(4), pages 1643-1670, November.

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