This paper discusses the operations of a wide range of central banking institutions in developing countries. The considerable diversity of economic, financial, and political conditions within the Third World has brought forth a wide variety of central banking institutions. Four polar types have...

The macroeconomic effects of scaling up aid -- Managing the real exchange rate -- Using monetary policy for sterilization and inflation management -- Mobilizing adequate domestic revenues -- Projecting the impact of increased aid on economic growth -- Meeting other fiscal challenges --...

Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy...