Central banks as agents of economic development

In the last two decades, there has been a global sea change in the theory and practice of central banking. The neoliberal central bank policy package is drastically out of step with the history and dominant practice of central banking throughout most of its history, this University of Massachusetts paper says.

The currently dominant "best practice" approach to central banking consists of the following: (1) central bank independence (2) a focus on inflation fighting (including adopting formal

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.