The Role of the Central Banker Today

Louis Rasminsky

Chapter 2 in Money and the Economy: Central Bankers’ Views, 1987, pp 57-78 from Palgrave Macmillan

Abstract: Abstract I propose to discuss some of the principal functions of the central banker as I see them, and some of the main problems with which he is confronted today and which he seems likely to face in the future. What I shall say is essentially based on my own experience in Canada in recent years. I ask you to bear this in mind because I would not wish to jeopardise my friendly relations with my central banking colleagues in other countries by pretending to talk for them. In saying this I have in mind my colleagues both in the highly industrialised countries and in the developing countries, some of whom I have had the pleasure of seeing regularly at meetings of the governors of the central banks of the American continent and at Commonwealth gatherings. The role of the central banker is necessarily greatly influenced by the system of government, by the stage of economic development, and by the organisation of financial markets; indeed, in underdeveloped countries, which are chronically short of capital, a great deal of the effort of the central banker may in fact be devoted to improving the structure of financial institutions so that the maximum amount of domestic savings may be mobilised for economically constructive purposes and the pressures for inflationary financing of development thereby reduced.

Keywords: Monetary Policy; Financial Market; Central Bank; Fiscal Policy; Money Supply (search for similar items in EconPapers)
Date: 1987
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07927-8_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349079278

DOI: 10.1007/978-1-349-07927-8_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().