Monetary Governance in Search of New Space: Emerging Market Economy Perspectives

In the context of the current global economic and financial crisis, this book focuses on the issues relating to the functional area of macroeconomic management. Dealing with the institutional requirements, the rainbow of interests, the analytics, and the international dimensions of monetary governance, it argues not only that governments and central banks must implement the policies required to address macroeconomic problems, but also that they should use flexibility only under extreme economic circumstances.