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Development central banking : a review of issues and experiences

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  • Epstein, Gerald.

Abstract

The paper argues that central banks should play a broader role in helping developing countries meet their key challenges, such as generating productive employment, helping to allocate investment to productivity enhancing activities and helping to tackle the challenges of climate change.

Suggested Citation

  • Epstein, Gerald., 2015. "Development central banking : a review of issues and experiences," ILO Working Papers 994881283402676, International Labour Organization.
    • Handle: RePEc:ilo:ilowps:994881283402676
    as

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    File URL: http://www.ilo.org/public/libdoc/ilo/2015/115B09_92_engl.pdf
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    References listed on IDEAS

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    1. James Heintz & Léonce Ndikumana, 2010. "Is There a Case for Formal Inflation Targeting in Sub-Saharan Africa?," Working Papers wp218, Political Economy Research Institute, University of Massachusetts at Amherst.
    2. Roberto Frenkel & Lance Taylor, 2006. "Real Exchange Rate, Monetary Policy and Employment," Working Papers 19, United Nations, Department of Economics and Social Affairs.
    3. Frenkel, Roberto & Ros, Jaime, 2006. "Unemployment and the real exchange rate in Latin America," World Development, Elsevier, vol. 34(4), pages 631-646, April.
    4. Gerald Epstein & James Heintz, 2006. "Monetary Policy and Financial Sector Reform for Employment Creation and Poverty Reduction in Ghana," Research Report 2, International Policy Centre for Inclusive Growth.
    5. Jayadev, Arjun, 2006. "Differing preferences between anti-inflation and anti-unemployment policy among the rich and the poor," Economics Letters, Elsevier, vol. 91(1), pages 67-71, April.
    6. Mercedes Marcó del Pont, 2013. "Introduction: the role of central banks in economic development with an emphasis on the recent Argentinean experience," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(3), pages 267-272, January.
    7. Laurence M. Ball & Niamh Sheridan, 2004. "Does Inflation Targeting Matter?," NBER Chapters, in: The Inflation-Targeting Debate, pages 249-276, National Bureau of Economic Research, Inc.
    8. James Heintz & Gerald Epstein, 2006. "Monetary Policy and Financial Sector Reform For Employment Creation and Poverty Reduction in Ghana," Working Papers wp113, Political Economy Research Institute, University of Massachusetts at Amherst.
    9. Muqtada, M., 2010. "The crisis of orthodox macroeconomic policy : the case for a renewed commitment to full employment," ILO Working Papers 994562813402676, International Labour Organization.
    10. Lazzarini, Sergio G. & Musacchio, Aldo & Bandeira-de-Mello, Rodrigo & Marcon, Rosilene, 2015. "What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09," World Development, Elsevier, vol. 66(C), pages 237-253.
    11. repec:ilo:ilowps:464250 is not listed on IDEAS
    12. Carare, Alina & Stone, Mark R., 2006. "Inflation targeting regimes," European Economic Review, Elsevier, vol. 50(5), pages 1297-1315, July.
    13. Anwar, Sarah. & Islam, Iyanatul,, 2011. "Should developing countries target low, single digit inflation to promote growth and employment," ILO Working Papers 994642503402676, International Labour Organization.
    14. James Heintz & Léonce Ndikumana, 2010. "Working Paper 108 - Is there a Case for Formal Inflation Targeting in Sub-Saharan Africa?," Working Paper Series 245, African Development Bank.
    15. Michael Bruno & William Easterly, 1996. "Inflation and growth: in search of a stable relationship," Review, Federal Reserve Bank of St. Louis, vol. 78(May), pages 139-146.
    16. Marco Arnone & Bernard J Laurens & Jean-François Segalotto & Martin Sommer, 2009. "Central Bank Autonomy: Lessons from Global Trends," IMF Staff Papers, Palgrave Macmillan, vol. 56(2), pages 263-296, June.
    17. repec:ilo:ilowps:456281 is not listed on IDEAS
    18. Mr. Scott Roger & Mr. Mark R. Stone, 2005. "On Target? the International Experience with Achieving Inflation Targets," IMF Working Papers 2005/163, International Monetary Fund.
    19. Gerald A. Epstein & A. Erinc Yeldan (ed.), 2009. "Beyond Inflation Targeting," Books, Edward Elgar Publishing, number 13168.
    20. James Crotty, 2009. "Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 563-580, July.
    21. Ourania Dimakou, 2010. "Central Bank Independence, Bureaucratic Corruption and Fiscal Responses - Empirical Evidence," Birkbeck Working Papers in Economics and Finance 1012, Birkbeck, Department of Economics, Mathematics & Statistics.
    22. Ocampo, José Antonio, 2003. "Capital-account and counter-cyclical prudential regulations in developing countries," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1796.
    23. World Bank, 2014. "Global Financial Development Report 2014 : Financial Inclusion," World Bank Publications - Books, The World Bank Group, number 16238.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Daniel Munevar & Marcos Jorge Teixeira Reis, 2015. "A New proposal for the Bank of South," Documentos de Trabajo CEPROEC 2015_08, Instituto de Altos Estudios Nacionales, Centro de Prospectiva Estratégica.
    2. Stephanie Seguino, 2017. "How economies grow: Alice Amsden and the real-world economics of late industrialisation," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 99-110.
    3. Tumisang Loate & Ekaterina Pirozhkova & Nicola Viegi, 2021. "Sailing into the Wind evaluating the near future of Monetary Policy in South Africa," Working Papers 11006, South African Reserve Bank.

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