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1. The Commonwealth Bank of Australia only acquired full legal status as a 
central bank in 1945.   
 
2. M. De Kock (_Central Banking_ 1974, London: Granada) lists all the 
central banks that were established 1921-1971. 
 
3. If I recall correctly, my colleague at the University of Western 
Ontario, J. Clark Leith, worked in (and published on) Botswana in the 
1970s, 1980s and 1990s and was involved with their central bank.   
 
4. Two pieces that I found illuminating about the evolution of the Bank of 
Isreal (which you probably have already) are: 
 
Arnon, J. 1974. The Economist's Task in Government.  In Halevi, N. and 
Kupps, Y. Eds. Issues in the Economy of Isreal.  Jerusalem: Falk Institute. 
 
and 
 
Halevi, N. 1969. Economic Policy Discussion and Research in Israel.  AER 
59.2: 75-118. 
 
The Bank of Israel approach was based on a simple if inconsistent 
application of the quantity theory; the Bank (with Don Patinkin's support) 
attempted to control the money supply.  An influential stream of literature 
blamed inflation on the cost pressures caused by tight monetary policy and 
higher interest rates; the proposed solution being an increase in the money 
supply.   
 
Robert Leeson 
Murdoch University 
 
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