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La revolving door dans les banques centrales

Author

Listed:
  • Emmanuel Carré
  • Élise Demange

Abstract

Regulators frequently work for the firms they were formerly regulating. According to the literature, this so-called phenomenon of ?revolving door? is supposed to generate a risk of conflict of interest, and even a risk of capture of the regulator. The article analyses the potential existence of a revolving door in central banks. We produce an overview of central bankers? careers before and after the central bank. Our database shows that revolving door is significant, especially at the exit of the central bank. Our results allow to provide a portrait of a typical revolving door: entry in a central bank follows a career in the banking sector and exit from a central bank is followed by an appointment to a managerial position in the asset management sector after a median period of one year. We propose to lengthen this delay to two years, to regulate the revolving door. Classification JEL: E58, G01, G18 , J62.

Suggested Citation

  • Emmanuel Carré & Élise Demange, 2017. "La revolving door dans les banques centrales," Revue d'économie financière, Association d'économie financière, vol. 0(4), pages 233-254.
    • Handle: RePEc:cai:refaef:ecofi_128_0233
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    Citations

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    Cited by:

    1. Guillaume L'Oeillet, 2019. "The ECB is twenty years old. A mixed picture [Les vingt ans de la banque centrale européenne. Un bilan contrasté]," Post-Print halshs-02422950, HAL.
    2. Chris Gibson & Crystal Legacy & Dallas Rogers, 2023. "Deal-making, elite networks and public–private hybridisation: More-than-neoliberal urban governance," Urban Studies, Urban Studies Journal Limited, vol. 60(1), pages 183-199, January.

    More about this item

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion

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