The Growing Scope of Central Bank Mandates - Lessons for Cambodia

Abstract

Throughout history, central bank mandates have evolved. Generally, these adaptations involve an increase in the scope of the aegis of the institution evinced through the refinement and addition of tools central banks possess. However, the arguments for the creation of central banks began with a need to help facilitate the funding and marketing of sovereign debt. Public debt management remains a central tenet of central banks today. In this early period, central banks were also tasked with issuing currency. Yet, over time, the banks began to be issued a wider range of responsibilities. (Redish, 2012)