Central banking, protectionism and globalization

Central Banking , Free Banking , and Financial Crises

Agrowing literature explores the concept of free banking on both a theoretical and an historical basis. George Selgin (1988) sets out the theory of free banking and makes a compelling case that, despite the uniqueness of money, the forces of supply and demand are more conducive to monetary stability, correctly understood, than are the edicts of a central bank. Larry White (1984), focusing on th...

Gender and Central Banking

Female Central Bank chairs represent but a tiny minority. To understand why, this article analyzes socio-economic and socio-political characteristics of the countries where women have chaired Central Banks. Then, it suggests that gender differences in preferences as regards monetary policy goals may have some influence. An innovative econometric methodology, which does not require estimating al...

Globalization and Modernity: Central Questions

Central Banking and Financial Innovation

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level.We argue that, although the form of central bank instruments and current methods for implementing monetary policy may change, the goals that the policy makers try to achieve by employing the...

Impacts on poor rural producers in developing countries GLOBALIZATION, LIBERALIZATION AND PROTECTIONISM

FOREWORD Globalization and trade liberalisation carry with them tremendous challenges for poor countries and poor people, especially rural poor people, within poor countries. They carry also opportunities. In order for IFAD to be able to develop effective and relevant programmes and engage in effective policy dialogue and advocacy for pro-poor changes in the context of globalization and trade l...