1. Iwasaki, I. (2017). Central Bank Independence and Inflation in Transition Economies: A
Comparative Meta-Analysis with Developed and Developing Economies. Emerging Markets Finance and
Trade, 53(6), 1256-1272.

In their article, the authors examine the relationship between central bank independence and
inflation in transition economies. They employ a meta-analysis approach to compare the findings of
prior research that have examined this relationship in both developed and developing economies. The
authors focus on the period from 1990 to 2015. The authors observed that central bank independence
is negatively associated with inflation in both developed and developing economies. Nevertheless,
the relationship between central bank independence and inflation is less robust in transition
economies compared to developed and developing economies. The authors suggest that this reduced
association could be attributed to the comparatively low degree of central bank independence and
institutional quality in transition economies. This point is appealing and requires additional
investigation from the policy-making standpoint. The article underscores the significance of
central bank independence and institutional quality in accomplishing low inflation rates. It offers
valuable direction for policy-makers in transition economies.

2. Fontan, C., Carré, E., & L'Oeillet, G. (2018). Theoretical perspectives on the new era of
central banking. Journal of Economic Surveys, 32(3), 726-750.

In this study, the Fontan, C., (2018) examines the new era of central banking from a theoretical
perspective, drawing attention to the global financial changes after crisis in 2008. The authors
argue that central banks already have significant impact in macroprudential policies and financial
regulation in addition to traditional monetary policy.  The research demonstrated that the new era
of central banking requires a more nuanced theoretical approach, one that takes into account the
complexities of modern financial systems and the changing role of central banks. The article
concludes by discussing central banks’ new era challenges including the difficulty of balancing
inflation and growth objectives, the need for unconventional policy measures, and the potential
risks associated with large-scale asset purchases. Overall, the article provides theoretical
perspectives on the new era of central banking, highlighting presented challenges and
opportunities, and offering suggestions on balancing independence and democratic accountability for
Central Banks in the years ahead.

3. Petkovski, M., & Kjosevski, J. (2015). Does banking sector development promote economic growth?
An empirical analysis for selected countries in Central and South Eastern Europe. Economic
Research-Ekonomska Istraživanja, 28(1), 496-514.

In their article, Petkovski, M., & Kjosevski, J. (2015) investigate the banking sector's influence
on economic growth and development in selected countries in Central and South Eastern Europe. They
use panel data analysis in countries with relatively new and varied financial systems to explore
several measures of banking sector development, including the ratio of bank deposits to GDP, bank
credit to GDP, and bank assets to GDP. The research found that banking sector development promotes
economic growth in selected countries in Central and South Eastern Europe by increasing access to
credit, mobilizing savings, and allocating financial resources to productive investments. The study
is valuable because it suggests policies aimed at promoting the development of the banking sector,
such as improving the regulatory framework, promoting financial innovation, and increasing
financial inclusion. The issue can be further researched from the perspective of possible
interventions by the Central Bank, within the framework of competitive market structuring and
adequate banking regulations.