Abstract:

As the effects of the Abstract 2008 Financial Crisis spread to a broad geography, the main stream of central banking based on inflation target has become more questionable. Despite the price stability of the crisis, the explosion has opened the argument that the inflation target is a universal and optimal monetary policy strategy. In this context, the central banks with the developmental practice that emerged after the crisis aim to their developmental goals, such as sustainable growth, employment, financial inclusion, the support of critical sectors, social justice, credit allocation, private banks funding, and subsidized interest rates, taking into account the internal dynamics of the countries. In the study, the mainstream central banking experience will be moved through, and the developmental central banking will be an alternative, especially in the context of Turkey and developing countries.