Discourse of Transparency in the European Central Bank

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Titel: Discourse of Transparency in the European Central Bank
Författare: Staniloae, Anamaria
Medarbetare: Helsingin yliopisto, Valtiotieteellinen tiedekunta, Politiikan ja talouden tutkimuksen laitos
University of Helsinki, Faculty of Social Sciences, Department of Political and Economic Studies
Helsingfors universitet, Statsvetenskapliga fakulteten, Institutionen för politik och ekonomi
Utgivare: Helsingfors universitet
Datum: 2017
Språk: eng
Permanenta länken (URI): http://urn.fi/URN:NBN:fi:hulib-201706195090
Nivå: pro gradu-avhandlingar
Ämne: Yleinen valtio-oppi, hallinnon ja organisaatioiden tutkimuksen linja
Political Science, Administration and Organisations
Allmän statslära, förvaltnings- och organisationsforskning
Abstrakt: The idea of researching transparency in the European Central Bank came during one course on European Monetary Union – a legal, economic and historical approach when a debate on how transparent or not transparent European Central Bank in its communications during the crisis. The discussion started from the announcement of the OMT Program; which is rather short and brief. In the previous years before the crisis, the European Central Bank had been recognized in several research studies as one of the most transparent banks in the world; but transparency does not have only one definition and there is no agreement in the research field about it. No study, so far has taken into consideration analyzing transparency based on the organizational set up and the legal framework. The definition of transparency and how the term is used in a social context, combining theoretical and practical sides of the term and offering insights on the understanding of the organization regarding transparency and its limits. The result of the research is that transparency appears briefly in the legal framework, as well in the organizational set up of the ECB, like a characteristic that is acknowledged and must be improved and, in the same time, as a tool for improving the communication between the public organization and the citizens to increase the democratic deficiency. The definition of transparency is related with elements of the ECB organizational set-up like primary objective, tasks, reports and access to documents. The primary objective and tasks can be easily identified in the mission of the ECB, but the communication strategy is dispersed as the ECB main duty is to publish reports regarding its activities, but communicating the decisions it is up to the Governing Council. Last but not least, the access to documents is strictly described in terms of when access is denied and what is considered citizens’ interest. These rules have been conducting the behavior of the ECB when announcing the OMT Program and their behavior through the entire time. In the context of the economic crisis, the OMT Program is a changing element that transformed the ECB way of communicating in a more efficient way and emphasizing that what and how communicates it is important as adapting the style to the audience.
Subject: central bank transparency
organizational discourse and culture

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