How we developed and managed financial supervision institutions often had nothing to do with what we learned in the classroom. However, research has led to new theories about the economics of
independence, accountability and governance of financial supervision institutions. This collection of 12 articles helps to define this new field and provides a framework for analyzing the
architecture of the supervisory systems many countries have developed since the mid-1990s, particularly central banks. Contributors describe theoretical foundations, including whether
bureaucrats or politicians should be charged with oversight of supervisory institutions, how associated agencies should interact, and how independence and accountability of institutions works
in theory. Other contributors describe how independence and accountability work in practice, whether amongst supervisors or in certain regions, including supervision according to alternate
models. The result is part review, part handbook for academics, practitioners and policy makers. Annotation 穢2008 Book News, Inc., Portland, OR (booknews.com)
