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

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