Includes bibliographical references.

Introduction / Peter Nicholl -- Pt. I. The challenge of reform -- The challenge of reform / Leszek Balcerowicz -- Why change? / John Mendzela -- Enhancing transparency in central bank reporting / Kenneth Sullivan -- Pt. II. Rethinking the scope of the central bank -- Central bank operational efficiency: meaning and measurement / Vern McKinley -- Restructuring financial supervision: the UK experience / Michael Foot -- Unification of financial sector regulators: the case of Kazakhstan / Bryan D. Stirewalt -- Alternative models for outsourcing banknote services / Adrian Baxter ... [et al.]. -- Pt. III. Improving processes -- Managing central bank IT/ Bruce J. Summers -- Do all central banks need a well-developed brain? / Marko Skreb -- Strategic management in central banks: the South African experience / Francois J. van Zyl -- Strategic planning: a key to effective corporate governance / Mark L. Jewett and Colleen Leighton -- Pt. IV. Central bank reform in action -- Twenty years of modernisation: the Reserve Bank of New Zealand / John Singleton ... [et al.]. -- Payments system reform: a case study of Bosnia and Herzegovina / Peter Nicholl -- Timor-Leste: starting from scratch / Luis Quintaneiro -- The role of the State Bank of Pakistan in reforming the financial sector / Ishrat Husain.