Research Handbook on Central Banking
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Research Handbook on Central Banking

Edited by Peter Conti-Brown and Rosa M. Lastra

Central banks occupy a unique space in their national governments and in the global economy. The study of central banking however, has too often been dominated by an abstract theoretical approach that fails to grasp central banks’ institutional nuances. This comprehensive and insightful Handbook, takes a wider angle on central banks and central banking, focusing on the institutions of central banking. By 'institutions', Peter Conti-Brown and Rosa Lastra refer to the laws, traditions, norms, and rules used to structure central bank organisations. The Research Handbook on Central Banking’s institutional approach is one of the most interdisciplinary efforts to consider its topic, and includes chapters from leading and rising central bankers, economists, lawyers, legal scholars, political scientists, historians, and others.
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Chapter 14: Central banking in Latin America: past, present and challenges ahead

Luis I Jácome H

Abstract

This chapter deals with the evolving role of central banks in Latin America and discusses the past, the present, and the main challenges that lay ahead. The chapter identifies three key periods: the early years; the developmental phase; and the golden years. The analysis highlights central banks’ institutional arrangements and the monetary policy framework in place throughout those periods, and how they played a critical role on the rise and fall of inflation and on periods of banking and currency crises. It also discusses current and future challenges facing Latin American central banks in the aftermath of the global financial crisis.

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