The Bank of International Settlements as a think tank for financial policy-making
The Bank of International Settlements (BIS) is known to be the ‘bank of central banks’ and a confidential place where central bankers meet to discuss policies. However, this contribution shows that it is also far more. Economic research and policy-making are closely connected within the BIS. Researc...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2018-04-01
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| Series: | Policy & Society |
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| Online Access: | http://dx.doi.org/10.1080/14494035.2018.1450090 |
| Summary: | The Bank of International Settlements (BIS) is known to be the ‘bank of central banks’ and a confidential place where central bankers meet to discuss policies. However, this contribution shows that it is also far more. Economic research and policy-making are closely connected within the BIS. Researchers and analysts provide knowledge for financial regulation and introduce new approaches to policy-makers who meet within the BIS-hosted bodies, such as the Basel Committee of Banking Supervision. The Monetary and Economic Department of the BIS operates like a think tank in the field of financial policy-making. This is exemplified by the introduction of macroprudential regulation, a new approach that originated within the BIS. By combining post-structural discourse theory with the concept of discourse coalition, this paper shows how macroprudential regulation became a frame of reference promising to maintain financial stability and how the BIS benefits from this. |
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| ISSN: | 1449-4035 1839-3373 |