Central Banking: Theory and Practice in Sustaining Monetary and Financial Stability

Part FourSustaining Monetary and Financial Stability for the Next Era

Part IV looks at the future challenges of central banking and how central banks might prepare themselves to meet those challenges.

Chapter 13 reviews three major forces that will likely shape the economic and financial landscape that central banks will be operating in, in the near future: the intensification of the globalization process, the continued evolution of financial activities, and unfinished business from the global financial crisis.

Chapter 14 discusses how central banks might prepare themselves to meet future challenges and deliver value to society using a public policy analysis framework that involves improving the analytical capacity, operational capacity, and political capacity of central banks.