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.
General
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