The money supply and the balance of payments in Ceylon
The present article devotes particular attention to the problems connected with the functions of the Central Bank in Ceylon and the criteria according to which it should conduct its operations. According to the author, these functions and criteria would need to be remodelled, as compared with the no...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-09-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12759 |
| _version_ | 1811172324295049216 |
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| author | H.A. DE S. GUNASEKERA |
| author_facet | H.A. DE S. GUNASEKERA |
| author_sort | H.A. DE S. GUNASEKERA |
| collection | DOAJ |
| description | The present article devotes particular attention to the problems connected with the functions of the Central Bank in Ceylon and the criteria according to which it should conduct its operations. According to the author, these functions and criteria would need to be remodelled, as compared with the norms of traditional orthodoxy, in order for them to be made adequate to the development requirements of dependent and backwards economies. In his view, the dilemma which, in an underdeveloped economy based on exports, faces those who are responsible for credit policy seems to be impossible to solve along traditional lines. In any case, he observes, “a mechanical anti-inflationary policy during a boom is definitely ill-advised, for it is only during a boom that the internal sector of the economy experiences even a slight increase in employment and activity”.
JEL: E51, E52, E58, F32
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| first_indexed | 2024-04-10T17:29:09Z |
| format | Article |
| id | doaj.art-61836e951e39462b965537a6d56f670f |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:29:09Z |
| publishDate | 2014-09-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-61836e951e39462b965537a6d56f670f2023-02-03T16:50:25ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-09-0173010.13133/2037-3643/12759The money supply and the balance of payments in CeylonH.A. DE S. GUNASEKERAThe present article devotes particular attention to the problems connected with the functions of the Central Bank in Ceylon and the criteria according to which it should conduct its operations. According to the author, these functions and criteria would need to be remodelled, as compared with the norms of traditional orthodoxy, in order for them to be made adequate to the development requirements of dependent and backwards economies. In his view, the dilemma which, in an underdeveloped economy based on exports, faces those who are responsible for credit policy seems to be impossible to solve along traditional lines. In any case, he observes, “a mechanical anti-inflationary policy during a boom is definitely ill-advised, for it is only during a boom that the internal sector of the economy experiences even a slight increase in employment and activity”. JEL: E51, E52, E58, F32 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12759Ceyloncentral bankmonetary policydevelopmentbackwards economiesunderdeveloped economies |
| spellingShingle | H.A. DE S. GUNASEKERA The money supply and the balance of payments in Ceylon PSL Quarterly Review Ceylon central bank monetary policy development backwards economies underdeveloped economies |
| title | The money supply and the balance of payments in Ceylon |
| title_full | The money supply and the balance of payments in Ceylon |
| title_fullStr | The money supply and the balance of payments in Ceylon |
| title_full_unstemmed | The money supply and the balance of payments in Ceylon |
| title_short | The money supply and the balance of payments in Ceylon |
| title_sort | money supply and the balance of payments in ceylon |
| topic | Ceylon central bank monetary policy development backwards economies underdeveloped economies |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12759 |
| work_keys_str_mv | AT hadesgunasekera themoneysupplyandthebalanceofpaymentsinceylon AT hadesgunasekera moneysupplyandthebalanceofpaymentsinceylon |