Institutions for macroeconomic stability: a review of ‘Monetary policy in low financial development countries’

ABSTRACT ‘Monetary policy in low financial development countries’ is about a significant and evolving subject. Designing and implementing monetary policy is complex, and considering an economy’s stage of development adds further problems. Theoretical advances are important alongside empirical analyses incorporating an economy’s features. The book shows that the ground remains fertile for research on monetary policy in developing economies -ranging from the international transmission mechanism of monetary policy to central bank behaviour and communication strategies.