Improving the Management of a Central Bank: A Case Study

April 1, 1994

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper examines how major efficiency gains and improved effectiveness were simultaneously achieved at the Reserve Bank of New Zealand over a five-year period. It identifies the business management concepts that were used to transform the organization, outlines how they were applied, and evaluates the benefits obtained. The paper concludes that substantial real efficiency gains were achieved, while effectiveness was maintained or enhanced. Looking more widely, the business management concepts used to achieve these benefits could be applied to other central banks.

Subject: Banking, Budget planning and preparation, Employment, Information and data management, Labor, Performance audit, Public financial management (PFM), Technology

Keywords: Budget planning and preparation, career staff, efficiency gain, Employment, Information and data management, internal audit group, Performance audit, price stability objective, property manager, RBNZ change, RBNZ culture, RBNZ goal, RBNZ organization chart, RBNZ staff, resource base, senior management, staff number, The RBNZ culture, WP

Pages:
54
Volume:
1994
DOI:
https://doi.org/10.5089/9781451845501.001
Issue:
037
Series:
Working Paper No. 1994/037
Stock No:
WPIEA0371994
ISBN:
9781451845501
ISSN:
1018-5941

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