The Bank of Japan: A Case Study in the Effectiveness of Central Bank Techniques of Monetary Control

AbstractThis paper explores the relationship between central bank independence and inflation in Latin America, using the experience of Colombia (1923-2008) as a case study. Since its creation, in 1923, Colombia’s central bank has undergone several reforms that have changed its objectives and degree of independence. Between 1923 and 1951, it was private and independent, with a legal commitment to price stability. In 1962, monetary responsibilities were divided between a government-dominated monetary board, in charge of monetary policies, and the central bank, which carried them out. In the early 1990s, the bank recovered its independence and its focus on price stability. Inflation varied substantially during these subperiods. Our analysis suggests that the central bank independence, combined with a commitment to price stability, renders the best results in terms of price stability.

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Issues on Takaful Affecting the Choice of Accounting Policies: A Case Study of Two Takaful Companies in Malaysia

International Business Research ◽

10.5539/ibr.v3n3p187 ◽

2010 ◽

Vol 3 (3) ◽

pp. 187 ◽

Cited By ~ 3

Author(s):

Hairul Azlan Annuar ◽

Nur Barizah Abu Bakar

Keyword(s):

Central Bank ◽

Advisory Council ◽

Annual Reports ◽

Case Study Method ◽

Financial Reports ◽

Descriptive Case Study ◽

Senior Official ◽

Similarities And Differences ◽

The Impact

The paper adopts a descriptive case study method to examine the impact of juristic views on the operations of two Malaysian takaful companies. In order to achieve this objective, the annual financial reports of both companies were analysed. Interviews with each company’s finance managers and with a member of the Malaysian Shariah Advisory Council were undertaken for a more in-depth coverage. Also a written correspondence with a senior official of the central bank was accomplished. Similarities and differences between the two companies were identified and it is concluded that the differences are serious enough to warrant interventions from the regulators in the form of mandatory disclosures in the annual reports.

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International experience of using central bank instruments of monetary control in the financial crisis 2008-2014 years

On-line Journal Naukovedenie ◽

10.15862/119evn614 ◽

2014 ◽

Vol 6 (6) ◽

Author(s):

Tatiana Yugai ◽

Phung The Dong

Keyword(s):

Financial Crisis ◽

Central Bank ◽

International Experience ◽

Monetary Control

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Case Study of Monetary Control: 1980-1982

ICPSR Data Holdings ◽

10.3886/icpsr01099 ◽

1996 ◽

Author(s):

R. Alton Gilbert

Keyword(s):

Monetary Control

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Sustainability of the Bank of Japan’s ETF Purchasing Policy

The Economists Voice ◽

10.1515/ev-2021-0013 ◽

2021 ◽

Vol 0 (0) ◽

Author(s):

Kimie Harada

Keyword(s):

Monetary Policy ◽

Stock Market ◽

Central Bank ◽

Listed Companies ◽

Unconventional Monetary Policy ◽

Exit Strategy ◽

Market Mechanisms ◽

Bank Of Japan ◽

Policy Measures ◽

Purchasing Policy

Abstract The Bank of Japan is the only central bank that holds enormous amounts of stocks of listed companies by purchasing ETFs via its unconventional monetary policy measures. The Bank of Japan has been buying ETFs for more than a decade and, seemingly, has no awareness that it has become a huge investor in the stock market. This article explains how this policy has potentially distorted market mechanisms and how it is difficult to find an exit strategy.

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