Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility

IF 1.7 Q3 BUSINESS, FINANCE

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI:10.2478/jcbtp-2021-0022

G. Vallet

引用次数: 7

Abstract

Abstract This paper deals with the neglected issue of central banks’ social responsibility. Since central banks exert the “structural power” on economies as well as on societies, their power should be regulated and controlled by society through a reliable framework of social responsibility. To that aim, this article sheds light on the ‘why’ and the ‘how’ of central bank’s social responsibility: I suggest reforms in order to increase central banks’ social legitimacy, while being consistent with the mapping out of a new framework of social responsibility.

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大国担当：解决低估的央行社会责任问题

摘要本文探讨了被忽视的中央银行社会责任问题。由于中央银行对经济和社会施加“结构性权力”，它们的权力应由社会通过可靠的社会责任框架进行监管和控制。为此，本文阐明了央行社会责任的“为什么”和“如何”：我建议进行改革，以提高央行的社会合法性，同时与制定新的社会责任框架保持一致。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Central Banking Theory and Practice BUSINESS, FINANCE-

CiteScore

2.80

自引率

57.10%

发文量

审稿时长

7 weeks

期刊介绍： Journal of Central Banking Theory and Practice is a scientific journal dedicated to publishing quality papers and disseminating original, relevant and applicable economic research. Scientific and professional papers that are published in the Journal of Central Banking Theory and Practice cover theoretical and practical aspects of central banking, monetary policy, including the supervision issues, as well as banking and management in central banks. The purpose of the journal is to educate the general public about the key issues that the central bankers globally face, as well as about contemporary research and achievements in the field of central banking theory and practice.