With a foreword by Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, Central Banking at the Frontier: Creating a Digital Financial Landscape comprehensively explores the current digital dynamic era, providing insights into the debates that define the evolving financial landscape.

This book suggests how good loans can be made to individuals and firms at the 'frontier'. This frontier is not geographic, but market based. On one side are those parts of the legitimate economy that are not usually considered creditworthy by formal financial institutions, and on the other are the generally more prosperous entities that do have access to formal finance. Good loans are loans that are repaid according to the terms agreed on when they were issued. It examines how lending at the frontier can be remunerative to commercial banks, development banks and other development finance agencies that retail credit and assume credit risk. Remunerative lending is important because most lenders, regardless of their ownership and institutional form, tend to avoid activities that are not attractive. Unremunerative lending is transitory, unstable, and not robust in the face of adversity. Credit markets function poorly when lenders are not adequately rewarded. Experience at the frontier clearly indicates that weak financial institutions do not do a good job serving society in general and firms and individuals at the frontier in particular. This book is intended for readers interested in the relationship between finance and development at the firm and household levels and in the use of credit by individuals in low-income countries.

Central Banking at the Frontier: Creating a Digital Financial Landscape comprehensively explores the current digital dynamic era, providing insights into emerging issues, initiatives, and debates that will define the evolving financial landscape.

Group means are compared and, when two outliers at the most efficient end are excluded, multibancos are found to be less technically inefficient than non-multibancos. Because economies of scope could not be estimated, technical inefficiency rankings do not provide sufficient information that multibancos are more efficient than non-multibancos.

Recounts the emergence of central banking ideas and institutions in US from the formation of the First Bank of the US to the enactment of the Federal Reserve System.