歐洲中央銀行獨立性之研究

10.6199/NTULJ.2004.33.05.05

洪德欽

歐洲中央銀行(ECB) ； 獨立性 ； 物價穩定 ； 貨幣政策策略 ； 政治責任 ； 歐盟擴大 ； 財經部長理事會(ECOF IN) ； EMU ； ERM 11

臺大法學論叢

33卷5期（2004 / 09 / 01）

215 - 278

繁體中文

本文探討歐洲中央銀行(ECB)獨立性相關議題，包括ECB獨立性之概念、論證、法律規定、政策目標、內容範圍、實務操作、政治責任及影響與挑戰。ECB獨立性乃由歐盟條約及歐體條約所保障，具有憲法性基礎，較為明確鞏固，以有效追求其物價穩定目標。ECB獨立性之規定，經由多年操作，頗具成效，對於物價穩定目標具有正面效果；同時有助於歐盟與會員國之金融穩定及經濟成長。ECB獨立性之範圍包括會員國央行獨立性，而使央行獨立性「歐洲化」；並將隨著歐盟擴大，益加彰顯。所以，ECB獨立性雖然是歐盟政經統合過程的一小步，卻是歐洲貨幣整合與經濟合作的一大步。ECB獨立性已具有高度象徵及實質意義，大大提高ECB可信度，有利於ECB之政策操作及歐盟貨幣及經濟整合進一步發展。

1. 洪德欽(1999)。歐元之法律分析。歐美研究，29(2)，171-272。
   連結：
2. Council Regulation (EC) 2494/95 concerning harmonized indices of consumer prices, OJ 1995, L257/1.
3. The Rules of Procedure of the ECB, OJ 1999, L125/34
4. Resolution of the European Council on the Stability and Growth Pact, OJ 1997, C 236/1.
5. Regulation 1467/97 on speeding up and clarifying the implementation of the excessive deficits procedure, OJ 1997, L 209/6.
6. Regulation 1466/97 on the strengthing of the surveillance of budgetary positions and the surveillance and coordination of economic policies, OJ 1997, L 209/1.
7. Resolution of the European council on the establishment of an exchange-rate mechanism in third stage of economic and monetary union, OJ 1997, C 236/5.
8. Amtenbrink, Fabian(1999).The Democratic Accountability of Central Banks: A Comparative Study of the European Central Bank.Oxford:Hart.
9. Apel, Emmanual(1998).European Monetary Integration 1958-2002.London:Routledge.
10. Bank of England(1998).The Bank of England Act.Quarterly Bulletin,93-99.
11. BCB(2000).Convergence Report 2000.
12. Blinder, Alan S.(1998).Central Banking in Theory and Practice.
13. Briault, Clive B.,Andrew G. Haldane,Mervyn A. King(1996).Independence and Accountabilily.Bank of England Working Paper,49.
14. Council/Commission of the European Communities(1992).Treaty on European Union: Protocol on the Statute of the European System of Central Banks and of the European Central Bank.Luxembourg:Office for Official Publications of the European Communities.
15. Cukierman, A.(1992).Central Bank Strategy, Credibility and Independence: Theory and Evidence.
16. Demopoulos, C. D.,G. M. Katsimbris,S. M. Miller(1987).Monetary Policy and Central-Bank Financing of Government Budget Deficits.European Economic Review,31,1023-1050.
17. Devuyst, Youri(1999).The Community-Method after Amsterdam.Journal of Common Market Studies,37(1),109-120.
18. Dickinson, David G.,Andrew W. Mullineux(2001).Financial and Monetary Integration in the New Europe.Cheltenham Glos, UK:Edward Elgar.
19. Dinan, Desmond(1999).Ever Closer Union: An Introduction to European Integration.London:Lynne Rienner.
20. ECB(2001).The European Central Bank.
21. ECB(2001).Annual Report 2000.
22. ECB(2002).Decision of the ECB of 5 December 2002 on the annual accounts of the ECB, OJ 2003, L58/38.
23. ECB(1999).Decision on fraud prevention, OJ 1999, L291/36.
24. ECB(2003).Annual Report 2002.
25. ECB(2002).Measurement issues in European consumer price indices and the conceptual framework of the HICP.
26. ECB(1998).Decision on the national central banks` percentage shares in the key for the capital of the European Central Bank, OJ 1999, L125/33.
27. ECB.Code of Conduct of the European Central Bank in accordance with Article 11.3 of the Rules of Procedure of the European Central Bank, OJ 2001, C76/12.
28. ECB(2002).Convergence Report 2002.
29. ECB(2000).The Eurosystem and the EU Enlargement Process.Monthly Bulletin,39-51.
30. ECB(2001).Review of the International Role of the Euro.
31. ECB(2000).The Single Monetary Policy in Stage Three: General Documentation on Eurosystem Monetary Policy Instruments and Procedures.
32. ECB(2003).Annual Account of the ECB for the year Ending 31 December 2002.Press Release,1.
33. ECB(2001).The Monetary Policy of the ECB.
34. ECB(1999).The Role of Short-Term Economic Indicators in the Analysis of Price Developments in the Euro Area.Monthly Bulletin,27-39.
35. ECB(2000).The Two Pillars of the ECB`s Monetary Policy Strategy.Monthly Bulletin,37-48.
36. Eichengreen, Barry,Fabio Ghironi(2002).EMU and Economic Policy in Europe: The Challenge of the Early Years.Cheltenham, UK:Edward Elgar.
37. Eijffinger, Sylvester C. W.(1997).Independent Central banks and economic performance.Cheltenham:Edward Elger.
38. Eijffinger, Sylvester C. W.,Jacob De Haan(2000).European Monetary and Fiscal Policy.Oxford University Press.
39. Elster, John(1984).Ulysses and the Sirens: Studies in Rationality and Irrationality.Cambridge University Press.
40. European Association For Banking History(1994).Handbook on the History of European Banks.Rants:Edward Elgar.
41. European Commission(1998).The Euro: Explanatory Notes, Euro PapersThe Euro: Explanatory Notes, Euro Papers,未出版
42. European Commission(2002).Public finances in EMU 2002.European Economy,3
43. European Union(1997).Consolidated Versions of the Treaty on European Union and the Treaty Establishing the European Community.Luxembourg:Office for Official Publications of the European Communities.
44. Fetter, F. W.(1965).The Development of British Monetary Orthodoxy.Harvard University Press.
45. Forder, James,Martin Slater(1998).Special Issue on the Economics of Central Bank Independence.Oxford Economic Papers,50(3),307-512.
46. Goodhart, Charles(1995).The Central Bank and the Financial System.The MIT Press.
47. Goodhart, Charles(1998).The Evolution of Central Bank.The MIT Press.
48. Goodman, John B.(1992).Monetary Sovereignty: The Politics of Central Banking in Western Europe.Cornell University Press.
49. Gormley, L.,J. De Haan(1996).The democratic deficit of the European Central Bank.European Law Review,21,95-112.
50. Hahn, Hugo J.(2000).International Monetary Law: Issues for the New Millennium.Oxford University Press.
51. IMF(1999).IMF Survey: Supplement on the Fund.
52. IMF(1996).World Economic OutlookWorld Economic Outlook,未出版
53. Issing, Otmar(1999).CEPR Policy Paper.London:Centre for Economic Policy Research.
54. Issing, Otmar(2000).Why price stability? First ECB Central Banking Conference.Frankfurt, Germany:
55. Issing, Otmar(2000).Why price stability? First ECB Central Banking Conference.Frankfurt, Germany:
56. James, Harold(1996).International Monetary Cooperation Since Bretton Woods.Washington, D.C.:IMF.
57. Kempf, Hubert(2001).European Monetary Integration: Past, Present and Future.Cheltenham UK:Edward Elgar.
58. Kenen, Peter B.(1995).Economic and Monetary Union in Europe.Cambridge University Press.
59. Keynes, John Maynard(1923).A Tract on Monetary Reform.London:Macmillan.
60. Lastra, Rosa Mariá(1997).European Economic and Monetary Union: The Institutional Framework.London:Kluwer Law International.
61. Lastra, Rosa Mariá(1999).Lender of Last Resort, An International Perspective.International and Comparative Law Quarterly,48,340-361.
62. Levitt, Malcolm,Christopher Lord(2000).The Political Economy of Monetary Union.London:Macmillan.
63. Louis, Jean-Victor(1990).The Community Legal Order.Luxembourg:Office for Official Publications of the European Communities.
64. Maes, Ivo(2002).Economic Thought and the Making of European Monetary Union.Cheltenham, UK:Edward Elgar.
65. Radciliffe Report(1959).The Committee on the Working of Monetary System: Report.London:HMSO.
66. Roll, Eric(1993).Independent and Accountable: A New Mandate for the Bank of England.London:Centre for Economic Policy Research.
67. Sayers, R. S.(1976).The Bank of England 1891-1944, Official History of the Bank of England.Oxford University Press.
68. Smaghi, Lerenzo Bini,Daniel Gros(2000).Open Issues In European Central Bank.The Centre for European Policy Studies.
69. Smits, René(1997).The European Central Bank: Institutional Aspects.London:Kluwer Law International.
70. Winkler, Bernhard(2000).Which kind of Transparency? On the need for Clarity in Monetary Policy-Making.ECB Working Paper,26
71. Zilioli, Chiara,Martin Selmayr(2001).The Law of the European Central Bank.Oxford:Hart.
72. 中央銀行(1979)。國際貨幣基金協定。台北:中央銀行經濟研究處。
73. 中央銀行經濟研究處(1999)。歐洲中央銀行體系及歐洲中央銀行條例議定書。台北:中央銀行。
74. 王泰銓(1997)。歐洲共同體法總論。台北:三民。
75. 申皓(2001)。歐洲中央銀行研究。武漢:武漢大學出版社。
76. 余雪明(2001)。中國國際法與國際事務年報。台北:商務。
77. 余雪明(2002)。中國國際法與國際事務年報。台北:商務。
78. 余雪明(2001)。中國國際法與國際事務年報。台北:商務。
79. 余琪(1999)。歐洲中央銀行體系獨立地位研究。歐洲，5，79-86。
80. 李榮謙(1997)。國際貨幣與金融。台北:智勝。
81. 李榮謙(1998)。貨幣銀行學。台北:智勝。
82. 李顯峰(2002)。英國進行五項經濟檢定，評估是否加入歐元。國際經濟情勢週報，1456，30。
83. 李顯峰(2002)。英國進行五項經濟檢定，評估是否加入歐元。國際經濟情勢週報，1456，29。
84. 沈玄池(1999)。「歐元與歐洲統合」小型學術研討會。台北:中研院歐美所。
85. 林文琇、林麗雯、駱麗珠(1993)。各國中央銀行法之比較研究。國際金融參考資料，34，45-47。
86. 林麗雯(1996)。中央銀行獨立性之意義。國際金融參考資料，38，1-9。
87. 洪德欽(2000)。歐洲中央銀行之對外關係。美歐季刊，13(3)，305-331。
88. 洪德欽(2003)。歐洲聯盟的組織與運作。台北:五南。
89. 陳嘉昌(1993)。淡江大學歐洲研究所。
90. 葉秋南、麥朝成(1998)。貨幣銀行學。台北:五南。
91. 歐雲蘭(1996)。通貨膨脹目標。國際金融參考資料，38，40-54。
92. 潘志奇(1989)。中央銀行之獨立性。中央銀行季刊，11(3)，18-22。
93. 盧世勳(1990)。影響中央銀行可信度之因素。國際金融參考資料，29，12-16。
94. 蕭文生(2000)。中央銀行與金融監理：自法律觀點論起。台北:元照。
95. 鍾世靜(1999)。英格蘭銀行獨立性的探討。國際金融參考資料，44，47-52。
96. 蘇導民(2001)。「歐洲中央銀行之流動性管理、民主機制定位與金融穩定策略」報告。台北:中央銀行。
97. 蘇導民(2002)。歐元區總體經濟政策之探討。國際經濟情勢週報，1425，5-18。

1. 洪德欽(Der-Chin Horng)(2021)。歐洲央行單一匯率政策的發展與挑戰。歐美研究。51(3)。433-494。