In the context of the current debate on whether central banks, especially in the developing world, should pursue a single or dual/multiple mandate, the author examines the Bangladesh Bank’s stance to follow the latter.
The South-South Tricontinental Collaborative Academic Programme has been conceived in the context of the hegemony of epistemological paradigms conceived in the North in the study of the South and the weakening of independent research capacity developing in academic and research institutions in the South. While this remains true, the severe crisis afflicting the mainstream social sciences, offers an opportunity for a significant renewal of the social sciences, especially with respect to broad issues such as development, democracy, the environment, peace and international justice. This provides the context for the launch of this South-South initiative.
The announcement of a BRICS development bank in the context of the ongoing global economic turmoil assumes a special significance. Some perceive it as an alternative to the already discredited World Bank with its North Centric leadership resulting in a dogmatic imposition of neo-liberal conditionalities on the indebted South; many assume this as a watershed, signaling the shift in global economic governance from the traditional powerhouses of the North to the newly emerging powerhouses of the South; while others perceive it as a tool to be used by the member countries to increase their influence in their respective Southern pockets.
This section includes articles analysing the emergence of BRICS Development Bank and its possible implications for global economic governance, regional impact of the BRICS nations, and other repercussions.