Barbados sails on

There is no best practice manual for designing and conducting monetary policy in newly emerging countries. Each economic system is unique and policymakers arrive at what is right through experience. Hence, in the early years of the Central Bank of Barbados, the economic research department was the dominant department. A review of the early research work of the department would reveal a preponderance of empirical research papers. This dominance gradually passed to the regulatory and supervisory

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