In many developing and emerging economies, central banks have begun over the past decade to place renewed emphasis on the promotion of economic development and structural transformation, looking beyond narrow mandates for macroeconomic stability. Developmental central bank policies have included...

As regulators, central banks can play a stabilising role, using prudential regulation to ensure financial system stability, and a transformative role, using regulation to promote financial system development and so encourage financial deepening and inclusion. While there are strong arguments for...

When it comes to finance in Africa, much of the discussion in academic and policy circles has focused on the challenges African central banks face in safeguarding price and financial stability while facilitating financial deepening. However, in many African countries, price stability, financial...