The Working Groups in “Finance, Law and Economics” is excited to welcome you to participate in the Webinar on the “The Challenges of Central Bank Accountability” which will be held on Wednesday, June 21, 2017 at 5:00 PM (CET) . It will last an hour.
Please follow this link to attend our GoToMeeting: https://global.gotomeeting.com/join/193839485
We look forward to seeing you online!
Christopher, Cecilia (Finance, Law, Economics WG)
Camila Villard Duran is currently an assistant professor of Law at the University of São Paulo. She was an associate research fellow of the Oxford-Princeton Global Leaders Fellowship Program run by the Global Economic Governance Programme at the University of Oxford and the Woodrow Wilson School of Public and International Affairs – Princeton University (2014–2016). She was a visiting professor at the Université Lyon 2 – Lumière (2016). She is a member of the SELA (Seminario en Latinoamérica de Teoria Constitucional y Política), a research group of the Yale Law School (2016). Camila awarded her joint-PhD degree in international economic law by the University of São Paulo and the University of Paris 1 Panthéon-Sorbonne (2012). She works on issues related to regulation of money and finance.
Central banks are not conventionally supposed to be accountable to the general public, but mainly to parliaments of their countries, or regions. Traditionally, accountability and transparency mechanisms were designed by law to assure that money management could be assessed by political powers. Nonetheless, in recent decades, central bank regulations or statements related to operational transparency were also set up, though focused on market communication and the efficiency of monetary policy implementation. However, it established a real institutional framework for potential greater social accountability. These “soft” instruments complemented the legal structure for monetary policy transparency.
However, the financial crisis of 2008 challenged this institutional framework. It was already complex for citizens and political actors to assess central bank decisions through legal instruments related to operational transparency in traditional monetary policy. What could be said about the quantitative easing policies and emergency liquidity operations? In democratic and global integrated societies, how to assure access, supervision and evaluation of complex public actions taken by monetary authorities? The presentation explores these questions.
Following this webinar, we will also host a short Finance, Law, Economics Working Group strategy meeting. It would be a great opportunity for those who would like to join the organization team or contribute to the working group development.
This event is organized under the Institute for New Economic Thinking (INET) Young Scholars Initiative (YSI).