イギリスの中央銀行制度

概要

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This article is concerned with the desirable functions of a central bank and the problem of its independence by a case study of the Bank of England. A central banking system, in general, has been established in accordance with the stages of economic development. Examining the circumstances of its establishment in the early days, we realize the importance of the political reasons of public finance. According to the Macmillan Report of 1931, a main function of a central bank is regarded to maintain monetary and banking system stable, at the same time it is required to establish its independence. Since the end of the World War II, namely since the nationalization of the Bank of England in 1946, however, its independence has been deteriorated, which shows a great contrast to that of the Bundes Bank of the West Germany. The Radcliff Report of 1959 reflects the structural changes of the English economy and the decline of the sterling position. This paper reviews the report briefly and analyses a few problems in post-war England, which reflect the enlargement of the government role and international disequiliblium centering around the sterling value.
東京女子大学の論文
1965-11-00