This paper examines the evolution of financial supervision as a policy tool over the last three
decades, with a focus on the issues raised by the Global Crisis. It considers a sample of …

Global governance of international banks is breaking down after the Great Financial Crisis,
as national regulators are withdrawing on their home turf. New evidence presented …

What explains the worldwide changes in central bank design over the past five decades?
Using a new dataset on central bank institutional design, this paper investigates the timing …

Previous scholarship on central bank accountability has generally focused on monetary
authorities' deeds and words while largely ignoring the other side of the accountability …

It has been argued that central bank independence (CBI) may not only be beneficial for
reaching the objective of price stability, but also for maintaining financial stability. Greater …

Since the E uropean Council of June 2012,'banking union'is a key item for the EU's policy
agenda. This contribution outlines the state of the policy debate–identifying the elements …

It has been argued that economies with more independent central banks experience lower
inflation over time. In this paper we show that this relationship is sensitive to the …

We investigate the role of prudential supervisors' independence in affecting income
smoothing behavior in European banks. Powerful national supervisors are predicted to …

Abstract Following the 2007–09 Global Financial Crisis many countries have changed their
financial supervisory architecture by increasing the involvement of central banks in …

The Asian financial crisis marked the beginning of worldwide efforts to improve the
effectiveness of financial supervision. However, the crisis that started in 2007? 08 was a …