This updated edition explores the viewpoint of emerging economies and virtually no important aspect of central banking is left out of this complete reference. Noting that the global economic and financial crisis that emerged in 2007 and 2008 remains unresolved on a sustainable basis, this work looks at how questions about the relevance of central banks, and in particular about the effectiveness of monetary policies in addressing the challenges, have remained unanswered. Other issues detailed in the volume include adopting more transparent accountancy and reporting standards for governments and financial entities, assessing the soundness of the financial sector—as a whole and as individual institutions—and analyzing the enormous responsibilities involved in adopting real-time payment and settlement systems.
