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The responsibilities of central banks in the transition economies

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  • Lionel Price

    (Director of Central Banking Studies, Bank of England, London, UK)

Abstract

The paper first considers the extent of the differences in the responsibilities and functions of major Western central banks, and suggests that these are in part a result of their different histories. The common origins of the central banks of the transition economies have resulted in greater similarities between these institutions, who mostly perform a wider range of tasks than their Western comparators. But the reforms achieved by the new central banks vary with some of the CIS central banks in particular having made only limited progress. The numbers of staff employed in the new central banks (compared with the population of the country) show a similar range to that of Western central banks, though the Central Bank of Russia is unusually large. © 1998 John Wiley & Sons, Ltd.

Suggested Citation

  • Lionel Price, 1998. "The responsibilities of central banks in the transition economies," Journal of International Development, John Wiley & Sons, Ltd., vol. 10(5), pages 643-657.
    • Handle: RePEc:wly:jintdv:v:10:y:1998:i:5:p:643-657
    DOI: 10.1002/(SICI)1099-1328(199807/08)10:5<643::AID-JID508>3.0.CO;2-3
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    Cited by:

    1. Vishnu Padayachee, 2001. "Central Bank transformation in a globalized world: the Reserve Bank in post-apartheid South Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(6), pages 741-765.
    2. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093.

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