The evolution of general banking, Issue 1534
Forrest Capie, World Bank. Policy Research Dept. Finance and Private Sector Development Division, World Bank. Financial Sector Development Dept
World Bank, Policy Research Dept., Finance and Private Sector Development Division, and Financial Sector Development Dept., 1995 - Banks and banking, Central - 15 pages
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arrived with World ascendant and intervention attributed to inept Bank of England banking system became central banks central bank independence central banks emerged commercial banks countries in transition currency boards conducted degree of independence dependence was difficult Depression dirigiste environment following drawbacks to currency economic historian economic liberalism economists European central banks everything in banking evolution into central fiat regimes fixed exchange rate gold standard encouraged Henry Thornton high inflation Independence Institutions inept Central Bank intermission of mercantilism intervention is falling kind of tension laissez faire last resort least in sterling lender of last Lessons from History liable to abrupt managed economy microeconomic function money supply nascent central bank nineteenth century October 1995 October open market operations Past for Reformers peace allowed independence Policy Research precommit recover lost sovereignty Research Working Paper revive currency boards role as lender solutions are ascendant sterling was strong Transition Economies twentieth century World Bank