Abstract
This article explores the empirical and practical perspectives of future central bank policy in emerging market economies (EMEs). The increasingly complex challenges of the Post-Global Financial Crisis 2008/09 (GFC) era provided valuable lessons, as well as vast opportunities for central banks in EMEs to deliver policy innovations and breakthroughs, not only from a practical level, but also from a theoretical perspective. Accordingly, central bank policy has been evolving toward a more integrated framework. To become a relevant regulator in the future, the central bank must put extra effort into strengthening policy coordination and institutional arrangements, fostering new sources of growth to support a broader scope of welfare improvements, while reinforcing the central bank policy mix in the new era.
Published Version
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