Introduction
The global financial crisis of 2008-2009 (the 2008 crisis, henceforth) was a turning point for the global economy and the financial system. Financial structure, policy approaches, and strategic priorities have all transformed after the crisis. Central banks have adopted new trends and policy-making has since dramatically shifted across the world. Along with the increasing power concentration, responsibilities are also increasing. Monetary policy and central banking instruments have also diversified. The focus within the institutions has shifted toward more regulation, an interventionist stance, power concentration, and market design.
