Abstract
The genesis of the theory, organization, and practice of central banking is traditionally associated with the industrial countries which witnessed the foundation of the very first central bank, the Sveriges Riksbank in Sweden (1668), followed by the Bank of England (1694) and the European central banks in the nineteenth century, like the Bank of France (1980), the Bank of Finland (1811), the Netherlands Bank (1814), Austria and Norway (1816), and Denmark (1818) (see Appendix A.1). The origins of central banking doctrine date back to Bishop Berkeley’s pioneering plan of a National Bank for Ireland (1735) in the first edition of his classic The Querist which was followed by the writings of a number of British economists, notably Ricardo (1828), Palmer, Henry Thornton, and Walter Bagehot. But it is hardly known even among the cognoscenti that by far the most extended discussion of central banking in different guises was undertaken in the context of the Indian subcontinent and, most remarkably, almost parallel to the celebrated monetary controversies in England.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.