Modern central banking: Pressures for change

K. M. Hawtrey*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

1 Citation (Scopus)


The role of the central bank as an instrument of government economic supervision has entered a period of flux, owing to the combined forces of financial deregulation, technological advance, monetary innovation and banking globalisation. This paper discusses, with special reference to Australia, pressing areas for potential reform in the role of the central bank including greater independence, international coordination, splitting of core functions, and the creation of a 'super-regulator'.

Original languageEnglish
Pages (from-to)59-70
Number of pages12
JournalAustralian Journal of Public Administration
Issue number1
Publication statusPublished - Mar 1997


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