New book exploring central banking in Ghana and the role of Governors in economic development launched
In an insightful new publication titled “Central Banking in Ghana and the Governors (Institutional Growth and Economic Development),” author Ivor Agyeman-Duah delves into the dynamic world of central banking in Ghana. This timely release not only focuses on the key role played by successive Governors in achieving the Bank’s objectives and fostering long-term sustainability but also examines their impact on Ghana’s economic development.
With the Bank of Ghana graciously endorsing the book launch, it is evident that Agyeman-Duah’s work addresses a notable gap in the literature surrounding central banking in Ghana. Unlike previous publications that overlooked the individual governors and the economic philosophies underpinning their decisions, this comprehensive exploration ensures their contributions are not only acknowledged but also scrutinized.
First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari, speaking on behalf of the Governor of the Bank of Ghana, Dr Ernest Addison, expressed gratitude to the author for his vision and dedication in bringing this publication to fruition. The book’s anticipated effect on public comprehension of central bank operations, particularly the contentious issue of institutional operational independence and accountability, is seen as a significant stride forward.
While abstaining from an in-depth review, the Bank’s representative did highlight some intriguing aspects touched upon in the book, such as the tools of monetary policy and contemporary strategies. Notably, the author hails inflation targeting as the most robust monetary policy formulation strategy, one that has yielded positive results for central banks, including the Bank of Ghana.
Undeniably, this book serves as a mirror reflecting the work of all governors since the establishment of the Bank. Yet, like a mirror, readers may interpret each governor’s legacy through the lens of their own economic philosophies or ideologies. Consequently, Agyeman-Duah’s work is poised to ignite constructive and intellectual public discourse on monetary policy and other crucial topics covered within its pages.
The author’s reputation as a seasoned scholar and academic further bolsters expectations that he will engage actively and respond to any constructive critique and commentary from economists, academics, and other reviewers. This willingness to foster a dialogue showcases Agyeman-Duah’s commitment to scholarly rigor and intellectual engagement.
Furthermore, the book’s potential as a valuable resource for central bankers, academics, and economics students both within and outside Ghana cannot be overstated. By providing comprehensive insights into central banking in Ghana and shedding light on the intricate relationship between governors and economic development, “Central Banking in Ghana and the Governors” promises to enrich the existing body of knowledge in this field.
In conclusion, congratulations are in order for Ivor Agyeman-Duah on the successful publication and launch of “Central Banking in Ghana and the Governors (Institutional Growth and Economic Development).” This meticulously crafted work is set to play a vital role in enhancing public understanding of central banking in Ghana while igniting meaningful conversations among scholars, policymakers, and economists.
