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Financial Supervision Fragmentation and Central Bank Independence: The Two Sides of the Same Coin?

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Author Info
Andreas Freytag () (University of Jena, Faculty of Economics)
Donato Masciandaro (Paolo Baffi Centre, Bocconi University, Milan, and Department of Economics, Mathematics and Statistics, University of Lecce)

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Abstract

This paper analyses how the central banks role in the monetary institutional setting can affect the unification process of the overall financial supervision architecture. Using indicators of monetary commitment and central bank independence, we claim that these legal proxies show an inverse link with financial supervision unification. Therefore, the trade off still holds between the supervisory and the central bank involvement per se, however, monetary commitment and independence do also matter. In this respect, in an institutional setting characterized by a central bank deeply and successfully involved in supervision, or legally independent, a multi-authority model is likely to occur.

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Publisher Info
Paper provided by Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät in its series Jenaer Schriften zur Wirtschaftswissenschaft with number 14/2005.

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Date of creation: 01 Nov 2005
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Handle: RePEc:jen:jenasw:2005-14

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Related research
Keywords: Financial Supervision; Single Authority; Central Bank Independence; Monetary Commitment;

Find related papers by JEL classification:
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
G20 - Financial Economics - - Financial Institutions and Services - - - General
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Roland Helm, 2004. "Export Market Entry Strategy and Success: Conceptual Framework and Empirical Examination," Jenaer Schriften zur Wirtschaftswissenschaft 06/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  2. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2005. "Knowledge Compensation in the German Automobile Industry," Jenaer Schriften zur Wirtschaftswissenschaft 11/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  3. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2005. "Knowledge and Creative Destruction over the Industry Life Cycle - The Case of the German Automobile Industry," Jenaer Schriften zur Wirtschaftswissenschaft 05/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
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  4. Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2004. "Firm Survival in the German Automobile Industry," Jenaer Schriften zur Wirtschaftswissenschaft 08/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
    Other versions:
  6. Roland Helm & Michael Steiner & Armin Scholl & Laura Manthey, 2004. "A Comparative Empirical Study on Common Methods for Measuring Preferences," Jenaer Schriften zur Wirtschaftswissenschaft 20/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  7. Uwe Cantner & Werner Gueth & Andreas Nicklisch & Torsten Weiland, 2003. "Competition in Innovation and Imitation - A Theoretical and Experimental Study -," Papers on Strategic Interaction 2004-02, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
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  8. Robert Klein & Armin Scholl, 2004. "Software zur Entscheidungsanalyse - Eine Marktübersicht," Jenaer Schriften zur Wirtschaftswissenschaft 19/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  9. Uwe Cantner & Jens J. Krüger, 2004. "Empirical Tools for the Analysis of Technological Heterogeneity and Change. Some Basic Building Blocks of "Evolumetrics"," Jenaer Schriften zur Wirtschaftswissenschaft 05/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  10. Andreas Freytag & Simon Renaud, 2004. "Langfristorientierung in der Arbeitsmarktpolitik," Jenaer Schriften zur Wirtschaftswissenschaft 23/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  11. Andreas Freytag & Dirk Schiereck & Thomas W. Thomas, 2005. "Consolidation and Market Power of Energy Utilities - The case of US-American and German Utility Takeovers," Jenaer Schriften zur Wirtschaftswissenschaft 07/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos F. Alves, 2008. "O Efeito da Família Jurídica na Transposição da Directiva das Ofertas Públicas de Aquisição," Notas Económicas, Faculdade de Economia, Universidade de Coimbra, issue 27, pages 39-56, Jume. [Downloadable!]
  2. Aleksandra Maslowska, 2008. "Quest for the best: How to measure central bank independence and show its relation with inflation?," Discussion Papers 37, Aboa Centre for Economics. [Downloadable!]
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