Central Banking In Developing Countries
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Author | : A. Chandavarkar |
Publisher | : Springer |
Total Pages | : 304 |
Release | : 1996-10-31 |
Genre | : Business & Economics |
ISBN | : 0230371507 |
This is a comprehensive state-of-the-art survey which analyzes institutions, policies and issues of central banking in developing countries including interest-free Islamic and transition economies. It discusses objectives and functions; monetary, exchange, supervisory and developmental roles; financial liberalization; informal finance; causes and implications of central bank losses. It critically evaluates currency boards, central bank independence, ceilings on government credit and suggests radical organizational reforms, divestiture of quasi-fiscal activities and partial privatization of central banks.
Author | : Álvaro Almeida |
Publisher | : Routledge |
Total Pages | : 234 |
Release | : 1996-05-30 |
Genre | : Business & Economics |
ISBN | : 1134759746 |
This book examines the current state of central banking in 44 developing countries. The authors analyse the banks' achievement in their primary objective of price stability and discuss the reasons behind the general lack of success. The book covers: * government financing * foreign exchange systems * domestic banking systems. Rich in data, the book
Author | : Sylvia Maxfield |
Publisher | : Princeton University Press |
Total Pages | : 198 |
Release | : 1998-07-13 |
Genre | : Business & Economics |
ISBN | : 1400822289 |
Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.
Author | : Sylvia Maxfield |
Publisher | : Princeton University Press |
Total Pages | : 198 |
Release | : 1998-07-13 |
Genre | : Business & Economics |
ISBN | : 1400822289 |
Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.
Author | : Anand G. Chandavarkar |
Publisher | : Palgrave Macmillan |
Total Pages | : 289 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : 9780312163525 |
Author | : Kurt Schuler |
Publisher | : Research Monograph Institute o |
Total Pages | : 140 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : |
Gathers evidence to determine whether or not countries with central banks can claim superior economic performance to those with other monetary systems (such as currency boards, monetary institutes, free banking, or 'dollarisation').
Author | : Mr.Charles Collyns |
Publisher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 1983-03-15 |
Genre | : Business & Economics |
ISBN | : 9781557750570 |
This paper discusses the operations of a wide range of central banking institutions in developing countries. The considerable diversity of economic, financial, and political conditions within the Third World has brought forth a wide variety of central banking institutions. Four polar types have been identified as providing coherent alternatives to the central bank. Historical experience certainly indicates that legislation on its own may not be enough to guarantee prudent behavior. Although many countries' central banking institutions have not yet come close to violating foreign exchange cover requirements or restrictions on government lending, in other cases the rules have simply been sidestepped by technical adjustments, altered expediently, or merely ignored. The organizational structure established by legislation probably plays a more positive part in determining a central banking institution's characteristic behavior. Operating procedures, channels of communication, and lines of command all exert some influence on where and how decisions are made in practice. The balance of power between government and monetary authority does not only depend on personality and outside support but will also be influenced by the institutional framework in which their interaction is established.
Author | : Maxwell J. Fry |
Publisher | : |
Total Pages | : |
Release | : 1996 |
Genre | : |
ISBN | : 9780203266991 |
Author | : Mustafa Yağcı |
Publisher | : Routledge |
Total Pages | : 222 |
Release | : 2020-09-03 |
Genre | : Business & Economics |
ISBN | : 1000164772 |
Since the start of the Global Financial Crisis in 2008, research on central banking has gained momentum due to unusual levels of central bank activism and unconventional monetary policy measures in many countries. While these policies drew significant attention to advanced economy central banks, there has been much less academic focus on central banking in emerging economies. This book extends the research on the political economy of central banking by focusing on the emerging economies in Asia, Africa, Latin America, and the European periphery. Central banks are at the heart of economic policymaking, and their decisions have a significant impact on the social and economic well-being of citizens. Adopting an interdisciplinary political economy perspective, the contributions in this book explore the reciprocal relations between politics, economics, and central banks, and how the global and domestic political economy contexts influence central bank practices. The chapters employ diverse theoretical perspectives such as institutional and organizational theory, developmental state resource dependency, and gender studies, drawing on disciplines ranging from politics, international relations, public policy, management, finance, and sociology. This book will appeal to academics and students of central banking, political economy, and emerging economies, as well as professionals and policymakers engaged with central banks, monetary policy, and economic development.
Author | : Mr.Luis Ignacio Jácome |
Publisher | : International Monetary Fund |
Total Pages | : 57 |
Release | : 2015-03-17 |
Genre | : Business & Economics |
ISBN | : 1484303180 |
This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.