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Central Bank Ratings

A New Methodology for Global Excellence

  • Book
  • © 2022
  • Latest edition

Overview

Authors:
  1. Indranarain Ramlall

    1. University of Mauritius, Reduit, Moka, Mauritius

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  • Proposes a new framework for the evaluation of 124 central banks
  • Presents a ratings methodology with a unique and large set of global metrics
  • Offers insights reflecting on international best practices of central banks

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xiii
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  2. Introduction

    • Indranarain Ramlall
    Pages 1-9

  3. An Overview of Central Banking in the World

    • Indranarain Ramlall
    Pages 11-36

  4. Some Stylized Facts About Central Banks

    • Indranarain Ramlall
    Pages 37-47

  5. Ratings Methodology for Central Banks Worldwide

    • Indranarain Ramlall
    Pages 49-87

  6. Second and Third Division Rated Central Banks

    • Indranarain Ramlall
    Pages 89-91

  7. Results and Discussions

    • Indranarain Ramlall
    Pages 93-113

  8. Backtesting

    • Indranarain Ramlall
    Pages 115-122

  9. Conclusion

    • Indranarain Ramlall
    Pages 123-127

  10. Back Matter

    Pages 129-132
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Keywords

About this book

When the global financial crisis broke, central banks in both the US and the UK undertook massive asset purchase programmes which resulted in considerable increase in assets. Cross-border spillover effects were noted across global economies. Balance sheet adjustments may eventually gnaw at the profit-earning capacities of central banks, and in extreme cases, negative equity can manifest.

This updated book investigates a benchmark for comparing central banks. The author employs a unique and large set of metrics to gauge the quality of central banks and presents an argument to reflect upon international best practices covering 124 banks in this latest study. The study uses different criteria including the accounting body, research, presence of stress-testing exercises, inflation-targeting frameworks, staff efficiency, and languages of communication with the public, amongst others. The book begins by providing an overview of central banking, before exploring some stylized facts about central banks in unique detail. It then presents a ratings methodology for worldwide central banks to analyse the results. A backtesting exercise is included to validate the quality of the ratings obtained. The book concludes by offering insights into the comparison of central banks.

Reviews

“Since the global financial crisis began, central banks have taken a wide range of non-conventional policies in an effort to subdue the effects of economic recessions. Concurrently, the on-going credibility and stability of these banks has been increasingly under the spotlight. This timely and welcome research-based book proposes a new framework for the evaluation of central banks via ratings scores. It will help to fill an important gap in our knowledge by contributing to the debate on the question of central banking quality and how to assess it. As such, it is likely to be required reading for both practitioners and researchers of this topic.” (Professor Chris Brooks, Henley Business School, University of Reading, UK)


Authors and Affiliations

  • University of Mauritius, Reduit, Moka, Mauritius

    Indranarain Ramlall

About the author

Indranarain Ramlall is  Associate Professor at the University of Mauritius. Prior to joining the University, he was Credit Corporate Officer at the State Bank of India (Mauritius), and then Fund Manager at Anglo-Mauritius Financial Services Limited. Dr. Ramlall previously worked within the Financial Markets Division and the Financial Stability Unit at the Bank of Mauritius (The Central Bank of Mauritius). At this time, he also served as a member of the Joint Working Group Committee on Debt Management and the Sub-Committee on Treasury Bill Allocation.  His research interests include financial stability, central banking, risk management, economics and finance in Mauritius, investment analysis, quantitative techniques and econometric modelling, and the economics of climate change and Green Finance.

Bibliographic Information

  • Book Title: Central Bank Ratings

  • Book Subtitle: A New Methodology for Global Excellence

  • Authors: Indranarain Ramlall

  • DOI: https://doi.org/10.1007/978-3-030-98713-8

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

  • Hardcover ISBN: 978-3-030-98712-1Published: 02 July 2022

  • Softcover ISBN: 978-3-030-98715-2Published: 03 July 2023

  • eBook ISBN: 978-3-030-98713-8Published: 01 July 2022

  • Edition Number: 2

  • Number of Pages: XIII, 132

  • Number of Illustrations: 1 b/w illustrations, 15 illustrations in colour

  • Topics: Financial Services, Financial Accounting, International Economics

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