To shed new light on monetary policy in developing nations, a ground-breaking new book titled Monetary Economics in Emerging and Developing Countries has been released.
Prominent academics Dr. Lakshmy Subramanian, Professor Peter Quartey, Professor Joseph G. Nellis, and Professor Joshua Yindenaba Abor wrote the book, which attempts to connect theoretical frameworks with practical applications.
On March 20, 2025, the inaugural ceremony was hosted at the University of Ghana’s ISSER Conference Facility, bringing together academics, industry leaders, and policymakers.
On behalf of the Governor, Dr. Zakari Mumuni, First Deputy Governor of the Bank of Ghana, was the honored guest. Dr. George Agyekum Donkor, President of the ECOWAS Bank for Investment and Development, presided over the ceremony.
Dr. Mumuni and Professor Vera Fiador, Head of the Finance Department at the University of Ghana Business School, gave a critical critique of the book, which was a major highlight of the occasion.
The authors were praised by both reviewers for their thorough investigation and for filling important gaps in the literature on monetary policy.
Dr. Mumuni emphasized the importance of the book in directing monetary policy in developing nations, especially in light of current economic difficulties.
“The book’s analysis of the fundamental differences between emerging and developed economies, coupled with its exploration of financial system dynamics and the role of government in stabilising economies, makes it a cutting-edge resource for policymakers, researchers, and students alike,” he stated.
He went on to emphasize its thorough coverage, practical insights, and balanced approach, establishing it as an essential resource for graduate students studying monetary economics, particularly in developing countries.
Professor Fiador emphasized how the book effectively closes the gap between theoretical frameworks for monetary policy and their practical implementations.
“Beyond theory, it offers practical recommendations that can be leveraged by policymakers. Comparing these insights with experiences in developed economies makes this book an invaluable resource,” she noted.
Co-author Professor Joshua Yindenaba Abor reflected on the demanding yet rewarding nature of writing an academic book. Encouraging fellow academics to contribute actively to economic literature, he remarked, “Journal articles are important for academic progression, but we must also write books that influence both academia and policy.”
Bernard Avle, General Manager of Citi FM/Channel One TV, moderated the event and emphasized the importance of the book’s timely publication, especially in light of Ghana’s central bank’s impending Monetary Policy Committee meeting.
Policymakers, economists, and students will find Monetary Economics in Emerging and Developing Countries to be a vital resource as worries about inflation, exchange rate stability, and macroeconomic resilience grow.
With its introduction, monetary economics has made a substantial contribution to both scholarly discussion and the development of useful policy.