Implications of G20 Central Bank Governors’ Professional Qualification Profiles
14 Pages Posted: 18 Nov 2021
Date Written: September 6, 2021
Central bank governors and their professional competency have attracted reasonable interest in the monetary policy world. However, data and methods to measure the professional qualifications of central bank governors based on their experience, higher education, and other professional attributes are limited. This study converts textual governor biographies into quantitative data, and as a new metric in monetary policy and governance analyses, calculates professional qualification profiles (PQPs) of G20 central bank governors. The study indicates that G20 central bank governors have significantly different professional competency levels; some had more than twenty years of central banking experience, some had neither economics degree nor central banking experience before their appointments. The drastic professional profile differences signal politicians-made risks in developing harmonized policies and managing economic risks, nationally and globally. The findings have many implications for global economic and financial stability and address future research.
Keywords: Monetary policy, central bank, central bank governors, Group of Twenty (G20), economic stability, financial stability
JEL Classification: E02, E42, E52, E58, E61, F42, F60
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