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Global Constraints on Monetary Policy: Can Developing Countries Avoid the Dilemma? The Case of Türkiye and Bolivia

Author

Listed:
  • Hasan Cömert
  • Raul Zelada Aprili

Abstract

This article explores the relatively unorthodox monetary experiments undertaken by Türkiye and Bolivia. Both countries pursued unorthodox monetary policy approaches under distinct institutional, political, and initial conditions, albeit in different periods. Their experiments, generating mixed outcomes, provide valuable insights into the potential and limitations of alternative central banking practices in developing countries. JEL Classification : B50, E52, E58, O57

Suggested Citation

  • Hasan Cömert & Raul Zelada Aprili, 2025. "Global Constraints on Monetary Policy: Can Developing Countries Avoid the Dilemma? The Case of Türkiye and Bolivia," Review of Radical Political Economics, Union for Radical Political Economics, vol. 57(4), pages 792-803, December.
    • Handle: RePEc:sae:reorpe:v:57:y:2025:i:4:p:792-803
    DOI: 10.1177/04866134251370472
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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