Central Banking in Developing Countries [Hardcover]

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.List of Tables and Charts - Preface - Acknowledgements - Nature, Objectives and Functions - Central Banks: Origins and Variants - Monetary Policy: Instruments and Issues - Exchange Arrangements and Policies - Regulation and Supervision - Development Rule - Informal Finance - Research and Advisory Role - Islamic Central Banking - Transition Economies - Central Bank Losses - Organizational Reform - Independence: Rhetoric and Reality - Conclusion: Toward Effective Central Banking - List of Appendices - Endnotes - Bibliography - IndexANAND CHANDAVARKAR