Money's destiny is to become digital. Throughout the ages physical money in the form of objects, coins and notes has increasingly been replaced by more abstract means of payment such as bills of exchange, cheques and credit cards. In the years to come that trend to virtual money will continue...

Functioning states are essential for reducing poverty, sustaining peace and achieving agreed development goals. Despite receiving growing international attention in recent years, fragile states are falling behind other low-income countries in human development. Fragility – and its negative...

Central Bank Audit Practices describes common approaches, practices and trends relevant to the audit of central banks, with a view to supporting public administration reform efforts in central and eastern European countries. The study provides a basis for further discussion between...

The current monetary policy framework in several Latin American countries, combining inflation targeting and a floating exchange-rate regime, has contributed to disinflation by anchoring expectations around low, stable levels. This paper uses co-integration analysis to estimate simultaneously a...