Effectiveness of Central Banks and thier Role in the Global Financial Crisis-Case of Selected Economies: Caucasus and Central Asia: Afghanistan, Armenia, Georgia, the Kyrgyz Republic, and Tajikistan | South Asia: Nepal and Sri Lanka

Abstract

This study examines the role and performance of central banks in low-income countries that have faced a range of domestic and external fragilities, aggravated by the global financial crisis that started in the US and other advanced economies. It focuses on a select group of developing member countries of the Asian Development Bank in the Caucasus, Central Asia, and South Asia that have been and will continue to be vulnerable to adverse external developments.