In developed nations, central banks conduct a wide range of banking, regulatory, and supervisory functions. They have substantial public responsibilities and a broad array of executive powers. In developing countries, the situation is quite different. LDCs may be dominated by a narrow range of exports accompanied by a much larger diversity of imports, the relative prices (the terms of trade) of which are likely to be beyond community control.
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September 12, 2011
Role of Central Banks in a Less and More Developed Economy
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