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Monetary Policy Challenges for Emerging Market Economies

In: Monetary Policy Frameworks for Emerging Markets

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  • Gill Hammond
  • Ravi Kanbur
  • Eswar Prasad

Abstract

Financial globalization has made monetary policy formulation in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which coupled with volatile inflation poses serious challenges for central banks in these countries. Featuring papers from the research frontier and front-line policymakers in developing and emerging market economies, the book addresses questions such as ‘What monetary policy framework is most suitable for these countries to confront the new challenges while they continue to open up to trade and financial flows?’, ‘What are the linkages between monetary stability and financial stability?’ and ‘Is inflation targeting or a fixed exchange rate regime preferable for developing and emerging markets?’

Suggested Citation

  • Gill Hammond & Ravi Kanbur & Eswar Prasad, 2009. "Monetary Policy Challenges for Emerging Market Economies," Chapters, in: Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), Monetary Policy Frameworks for Emerging Markets, chapter 1, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13504_1
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    1. repec:ilo:ilowps:487892 is not listed on IDEAS
    2. Gill Hammond, 2012. "State of the art of inflation targeting," Handbooks, Centre for Central Banking Studies, Bank of England, edition 4, number 29, April.
    3. Gregor Heinrich, 2010. "El fortalecimiento institucional de los bancos centrales," Boletín, CEMLA, vol. 0(1), pages 18-27, Enero-mar.
    4. repec:ilo:ilowps:468522 is not listed on IDEAS
    5. Jagjit Chadha & Young-Kwan Kang, 2016. "Finance and Credit in a Model of Monetary Policy," National Institute of Economic and Social Research (NIESR) Discussion Papers 471, National Institute of Economic and Social Research.
    6. Eswar S. Prasad, 2010. "Financial Sector Regulation and Reforms in Emerging Markets: An Overview," NBER Working Papers 16428, National Bureau of Economic Research, Inc.
    7. Mark Ofoi & Parmendra Sharma, 2021. "Does the Money Multiplier Hold in Pacific Island Countries? The Case of Papua New Guinea," JRFM, MDPI, vol. 14(9), pages 1-21, September.
    8. Vipul Bhatt & Amr Hosny & N. Kundan Kishor, 2017. "The Dynamic Behaviour of Implicit Inflation Targets for ‘Inflation Targeting Lite’ Economies," The Economic Record, The Economic Society of Australia, vol. 93(300), pages 67-88, March.
    9. Bhattacharyya, Nikhilesh., 2012. "Monetary policy and employment in developing Asia," ILO Working Papers 994685223402676, International Labour Organization.
    10. Khou, Vouthy. & Cheng, Oudom. & Leng, Soklong. & Meng, Channarith., 2015. "Role of the Central Bank in supporting economic diversification and productive employment in Cambodia," ILO Working Papers 994878923402676, International Labour Organization.
    11. Alexandru TRIFU & Ina CROITORU, 2013. "Workforce/Manpower, Determining Factor Of Production Within A Firm," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 3(4), pages 70-83, December.
    12. Amr Sadek HOSNY, 2014. "Is Monetary Policy in Egypt Backward or Forward-Looking?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 14(2).
    13. Junankar, Pramod N. (Raja), 2019. "Monetary Policy, Growth and Employment in Developing Areas: A Review of the Literature," IZA Discussion Papers 12197, Institute of Labor Economics (IZA).

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    Keywords

    Development Studies; Economics and Finance;

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