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Stanley Fischer Memorial Lecture: Public Debt and Central Banks — The World Bank Group ABCDE Conference

本文基于作者在2026年年度银行发展经济学会议（ABCDE）上发表的斯坦利·费舍尔纪念讲座，探讨了阻碍广泛经济发展的两个结构性障碍：功能失调的中央银行货币体系和未能充分解决的主权债务负担。关于货币，本文认为，像埃塞俄比亚、尼日利亚和埃及等国家实践的浮动汇率制度和多重汇率制度，系统性地将财富从低收入工资劳动者转移到一个狭隘的特权阶层，加深了贫困而不是缓解贫困。本文以埃塞俄比亚为中心案例研究，记录了连

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