Research and Advisory Role

Anand Chandavarkar

Chapter 8 in Central Banking in Developing Countries, 1996, pp 140-147 from Palgrave Macmillan

Abstract: Abstract It is too little known that Montague Norman’s classic statement on the advisory role of a central bank was a studied response, to a lead question by the Royal Commission on Indian Currency and Finance 1926 (Minutes of Evidence, vol. V, non-Parliamentary Question, 14597). Its timing is significant for this was an age when the advisory role of a central bank hardly figured in public consciousness, which no doubt explains its omission from the statutes of central banks of the older industrial countries and those established in Europe under the aegis of the League of Nations in the 1920s and the early 1930s as well as those set up in Latin America around the same time (Kisch and Elkin, 1932). In contrast, the statutes of

Keywords: Monetary Policy; Central Bank; Royal Commission; Advisory Role; Food Subsidy (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37150-7_8

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DOI: 10.1057/9780230371507_8

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