01879cas a2200241 a 4500 AALejournalIMF015102 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484303184 1018-5941 BD-DhAAL BD-DhAAL Jacome, Luis. Central Banking in Latin America : From the Gold Standard to the Golden Years / Luis Jacome. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (57 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America's central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the 'golden years,' when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2015/060 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/060/001.2015.issue-060-en.xml IMF e-Library