The functions and priorities of a central bank change as the bank -- and the economy it serves -- develops. The management systems that work well at one stage of development can become an obstacle to good organisational performance in the next. To respond successfully to change, central banks need to give internal leadership and management a high priority. The central banks that vigorously take up this change management task are the ones most likely to maintain their future relevance, effectiveness and efficiency.
John Mendzela wrote two articles for the Central Banking journal, which appeared in November 2002 and February 2003. If you use or quote from this material please attribute it to the author and publisher.
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