No CrossRef data available.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 11 November 2008
THERE was a time when it was thought, in the best places, that in order to justify the establishment of a central bank it was absolutely necessary to have a securities market and a bill market in which the central bank could perform the traditional text-book open-market operations which are so central to the history of the Bank of England's control of the British monetary system.
Page 471 note 1 Trevor, Cecil, Report on Banking in the Gold Coast and on the Question of Setting up a National Bank (Accra, 1951)Google Scholar.
Page 471 note 2 Fisher, J. L., Report on the Desirability and Practicability of Establishing a Central Bank in Nigeria for Promoting the Economic Development of the Country (Lagos, 1953)Google Scholar.
Page 471 note 3 Newlyn, W. T. and Rowan, D.C., Money and Banking in British Colonial Africa (Oxford, 1954)Google Scholar.
Page 472 note 1 Sen, S. N., Central Banking in Underdeveloped Money Markets (Calcutta, 1952)Google Scholar; Wilson, J. S. C., The Role of a Money Market in a Developing Country, in yorkshire Bulletin of Economic and Social Research (Leeds), 11 1964Google Scholar; and Nevin, E., Capital Funds in Under-developed Counfries (London, 1963)Google Scholar.
Page 473 note 1 This brief summary of the Rhodesian experience is based on a detailed study by Dr Sowelem, R. A., supervised by the present writer, Towards Financial Independence in a Developing Country, shortly to be published by Allen & Unwin, LondonGoogle Scholar.
Page 476 note 1 Cf. Sayers, R. S., The American Banking System (Oxford, 1948)Google Scholar.
Page 476 note 2 Brown, C. V., The Nigerian Banking System (London, 1966)Google Scholar, and Bank of Leone, Sierra, Quarterly Statistical Review (Freetown)Google Scholar.
Page 477 note 1 The seasonal inter-country lending of the East African banking system is the subject of a study published in Economic and Statistical Review (Nairobi), 21, 12 1966Google Scholar.
Page 477 note 2 A minus sign denotes a decrease in claims or increase in liabilities; a plus sign denotes an increase in claims or decrease in liabilities. Source: East African Statistical Department, Nairobi.
Page 477 note 3 The discrepancy from a zero total is due to the fact that the other East African figures for both dates include Currency Board balances. The aggregate was broken down for the first thue in January 1965.
Page 478 note 1 Committee on the Working of the Monetary System [Radcliffe Report] (London, 1959), para 180.Google Scholar
Page 478 note 2 Sayers, R. S., Modern Banking (Oxford, 6th edn 1964), pp. 299–300Google Scholar.