البنوك المركزية في الدول النامية و قدرتها على الممارسات غير التقليدية

الملخص EN

The global financial crisis has raised fundamental questions about the powers of central banks, the most central banks have focused -ally over a few decades- on price stability as its goal only; this was the focus reason for the rule of the idea of "inflation targeting" as the preferred framework for monetary policy, which has led to the independence of the work of central banks.

After the explosion of the financial crisis, central banks have been forced to move away increasingly targeting inflation, and head to the implementation of a myriad of monetary policy and non-traditional practices in order to mitigate the consequences of the collapse and facilitate economic recovery.

These measures are a continuation of the usual policy but by other means, once that it is no longer possible to reduce nominal interest rates to the lowest levels of zero, central banks are using other tools to determine the monetary policy stance, so he turned to the use of tools is a traditional, expanded criteria for public budgets and pumped liquidity the impact on revenue and revenue structure and thus stimulate aggregate demand; a set of methods and procedures unusual in the traditional monetary policy used by central banks to influence economic activity to achieve specific economic targets, during a certain period of time.