Overview
Documenting important milestones in the epic journey traversed by the Central Bank of Kenya (CBK) over the last 50 years, 50 Years of Central Banking in Kenya puts into perspective the evolution of central banking globally and within the East African region, and contemplates future prospects and challenges.The volume is timely, mainly because within the last 50 years the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation, and consider economic growth as their other important objective. Bank regulation has moved from Basel I, to Basel II, and some countries have fully migrated to Basel III while some are still at the cross-roads. 50 Years of Central Banking in Kenya captures the wide-ranging discussions on central banking, from a symposium to celebrate the 50 year anniversary on 13 September 2016 in Nairobi. The participants at the symposium included current and former central bank governors from Kenya and the East Africa region, high level officials from multilateral financial institutions, policy makers, executives of commercial banks in Kenya, private sector practitioners, civil society agents, executives and researchers from think tanks based in Kenya and the Africa region, leading academics in banking and finance, and university students.Beyond the symposium, the volume highlights the evolution of specific functions of CBK over the last 50 years (such as monetary policy, bank regulation, and payments system), as well as developments in Kenya's financial system which strongly relate to the functionality of CBK, such as financial innovation, the evolution of financial markets, and non-bank financial institutions in Kenya.
Full Product Details
Author: Patrick Njoroge (Governor, Governor, Central Bank of Kenya) , Victor Murinde (AXA Professor in Global Finance, AXA Professor in Global Finance, SOAS University of London)
Publisher: Oxford University Press
Imprint: Oxford University Press
Dimensions:
Width: 16.00cm
, Height: 3.50cm
, Length: 24.00cm
Weight: 0.892kg
ISBN: 9780198851820
ISBN 10: 0198851820
Pages: 510
Publication Date: 01 April 2021
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Hardback
Publisher's Status: Active
Availability: Manufactured on demand 
We will order this item for you from a manufactured on demand supplier.
Table of Contents
1: Patrick Njoroge and Victor Murinde: Introduction Part 1: Central Banking - Global and Regional Perspectives 2: Mitsuhiro Furusawa: The Future of Central Banking 3: Patrick Njoroge and Victor Murinde: Reflections on Central Banking 4: Patrick Njoroge, Desire Kanga, and Victor Murinde: Central Bank Independence: What are the Key Issues? 5: Federica Branca, Ixart Miquel Flores, and Francesco Paolo Mongelli: Evolution of Central Banking: Some Observations 6: Babak Abbaszadeh: Financial Stability and Bank Supervision in the 21st Century 7: Bob Collymore: Financial Innovation and Financial Inclusion - Insights from a Practitioner 8: David Ferrand and Ignacio Mas: Do Central Banks Have a Role in Financial Inclusion? 9: John Rwangombwa: Central Banking and Financial Inclusion: Some Key Issues 10: Tavneet Suri: Mobile Money 11: Louis A. Kasekende: East Africa Monetary Union -What Lies Ahead? Part 2: The Central Bank of Kenya 12: Mahesh Gheewala: The Early Days of the Central Bank of Kenya 13: Maureen Were, Charles Koori, and Julius Bett: Central Banking in Kenya - Evolution, Challenges, and Future Prospects 14: Esman Nyamongo, Isaya Maana, and Anne Kamau: Dynamics of Monetary Policy in Kenya 15: Cappitas Chironga, Matu Mugo, and Daniel Tallam: Evolution of the Financial Sector in Kenya 16: Matu Mugo, Everlyne Kilonzo, and Anne Mariga: Powering Financial Inclusion through Innovative Payment Systems 17: Leonard Thotho, Caroline Wanjiku, and Daniel Amanja: Development of the Government Securities Market in Kenya 18: Lydia Ndirangu, Kethi Ngoka, and Esther Kariuki: The Structure of the Interbank Market in Kenya: Prospects and Challenges
Reviews
A superb volume. This is a book to read and enjoy for all those interested in monetary and financial issues in Kenya and the Eastern African region. The book has exemplary implications for other emerging economies. * Andrew W. Mullineux, Professor of Financial Economics, University of Birmingham * The volume features path-breaking contributions from top scholars and high-profile practitioners and policy makers, on important issues around the evolution of central banking in Kenya and tracing important landmarks such as the evolution of fintech in Kenya. The book is written in a clear and crisp style. It should be read by everyone who wishes to explore the evolution of central banking and the dynamics of the financial system in Kenya as well as other developing economies. * Robert Lensink, Professor of Finance and Financial Markets, University of Groningen * This book represents a blueprint on central banking in Kenya. It is a comprehensive treatise, which analyses the issues involved in the evolution of central banking in Kenya, with insights into monetary policy, bank regulation, payment systems, financial innovation, and the interbank market. The volume is a useful companion to anyone who has an interest in central banking and the financial sector in Kenya, in an East African as well as a global context. * Leonce Ndikumana, Distinguished Professor & Director, African Development Policy Programme, Political Economy Research Institute (PERI), University of Massachusetts at Amherst * This is a great book. It provides a thorough account of the evolution of central banking and the financial system in Kenya, including financial innovation such as mobile money (MPESA). Policy makers, practitioners in the financial sector, teachers and students will find this book an invaluable source of information, with many original contributions from eminent researchers. * Panicos Demetriades, Professor of Financial Economics, University of Leicester; former European Central Bank Governing Council Member and Governor of the Central Bank of Cyprus * Njoroge and Murinde have edited a brilliant volume, with contributions from leading researchers and eminent personalities in banking and finance, altogether providing authoritative coverage of the evolution of central banking and the financial system in Kenya, including financial innovation and rare insights into monetary policy and bank regulation. For policy makers and practitioners interested in understanding the evolution of central banking and how this intrinsically shapes the development of the financial system, this book is a must read. * Dr. Retselisitsoe Adelaide Matlanyane, Governor, Central Bank of Lesotho *
Njoroge and Murinde have edited a brilliant volume, with contributions from leading researchers and eminent personalities in banking and finance, altogether providing authoritative coverage of the evolution of central banking and the financial system in Kenya, including financial innovation and rare insights into monetary policy and bank regulation. For policy makers and practitioners interested in understanding the evolution of central banking and how this intrinsically shapes the development of the financial system, this book is a must read. * Dr. Retselisitsoe Adelaide Matlanyane, Governor, Central Bank of Lesotho * This is a great book. It provides a thorough account of the evolution of central banking and the financial system in Kenya, including financial innovation such as mobile money (MPESA). Policy makers, practitioners in the financial sector, teachers and students will find this book an invaluable source of information, with many original contributions from eminent researchers. * Panicos Demetriades, Professor of Financial Economics, University of Leicester; former European Central Bank Governing Council Member and Governor of the Central Bank of Cyprus * This book represents a blueprint on central banking in Kenya. It is a comprehensive treatise, which analyses the issues involved in the evolution of central banking in Kenya, with insights into monetary policy, bank regulation, payment systems, financial innovation, and the interbank market. The volume is a useful companion to anyone who has an interest in central banking and the financial sector in Kenya, in an East African as well as a global context. * Leonce Ndikumana, Distinguished Professor & Director, African Development Policy Programme, Political Economy Research Institute (PERI), University of Massachusetts at Amherst * The volume features path-breaking contributions from top scholars and high-profile practitioners and policy makers, on important issues around the evolution of central banking in Kenya and tracing important landmarks such as the evolution of fintech in Kenya. The book is written in a clear and crisp style. It should be read by everyone who wishes to explore the evolution of central banking and the dynamics of the financial system in Kenya as well as other developing economies. * Robert Lensink, Professor of Finance and Financial Markets, University of Groningen * A superb volume. This is a book to read and enjoy for all those interested in monetary and financial issues in Kenya and the Eastern African region. The book has exemplary implications for other emerging economies. * Andrew W. Mullineux, Professor of Financial Economics, University of Birmingham *
Author Information
Patrick Njoroge is Governor of the Central Bank of Kenya. He holds a PhD in Economics from Yale. He has held numerous positions including: Planning Officer in the Ministry of Planning in Kenya; Economist at the Ministry of Finance. At the IMF in Washington, DC, he was in turn: Senior Economist, IMF Mission Chief for Dominica, Deputy Division Chief, Finance Department, and Advisor to the Deputy Managing Director of the IMF. He has won several awards as a Central Bank Governor. He was named the 2018 Central Banker of the Year in Africa by the Banker Magazine in recognition of his prudence and long-term vision for Kenya's economy and the banking sector. In October 2018, he received the Global Markets Central Banker Governor of the Year award for Africa, and in May 2016, he was recognized as the Central Bank Governor of the year at the African Banker Award ceremony held in Lusaka, Zambia. In 2018 he was appointed on the UN Task Force on Digital Financing of the Sustainable Development Goals. Victor Murinde is AXA Professor of Global Finance and Director of the Research Centre for Global Finance at SOAS, London. He is a Fellow of the Academy of Social Sciences. He has contributed over 100 research papers to the financial economics literature. In 2014, the UK REF recognized his research on 'Shaping Bank Regulatory Reforms in Africa' for exceptional impact. He is the Principal Investigator of a DFID-ESRC Research Grant on 'Inclusive Finance'. He is co-investigator on ESRC - NSFC Grant on Research on China's Financial System towards Sustainable Growth, jointly with colleagues from several universities. His other current roles include: Chair, Econometric Society Africa Region Standing Committee; Chair of Group C (Finance & Resource Mobilization) for the African Economic Research Consortium (AERC); and Visiting Professor of Financial Economics, University of Nairobi. He was the founding Director of the African Development Institute, at the African Development Bank (2011-2014).
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