Call for paper Special issue on the 100th anniversary of the creation of the Banco de Mexico

Call for papers about Banco de México

Bank of Mexico, the institution empowered to create the currency that circulates in the country, celebrates 100 years of existence in 2025, which is why Ola Financiera convenes from the perspective of the heterodox financial economy a special issue on the centenary of this important event: the creation of the Central Bank of Mexico.

This public entity oversees designing and executing monetary policy and managing the country's currency, while supervising the money supply. Among its outstanding functions, the definition and communication of monetary policy stands out, through which macroeconomic objectives such as price stability and economic growth are sought. One of the instruments available for this purpose is the fixing of the interest rate through open-market operations, which affects the cost of money. The high reference rate, and its eventual transmission to the economy, seeks to regulate the quantity of money in circulation downwards, while the low rate aims to allow increases in the quantity of money in circulation, thus stimulating economic growth. If interest rates determine the cost of credit in domestic currency, the exchange rate determines the relative prices of other currencies. Both prices turn out to be decisive for different economic activities, and their setting, therefore, represents one of the most important policy decisions for the economic life of the country.

Today, the world's central banks also decide on other areas of the financial economy: the amount and composition of international reserves; the form and function of the interbank market; the stability of the national payment system – or failing that, lender-of-the-last resort operations. In the past, some central banks resorted to unconventional financial operations, while at present, several central banks are employing unconventional monetary policies, such as quantitative easing in ways never seen before.

Hence the importance of having our own, original and well-founded approach from the perspective of heterodox financial economics to have a clearer vision of the past and to offer a space for reflection to the national and regional scientific world with the tools and knowledge necessary to develop ideas and policies capable of facing the challenges of development for the future. It is in this context that the journal Ola Financiera makes a cordial invitation to the international academic community to join this task and participate with us by sending original and unpublished papers to be part of our Vol. 18 No. 52 September-December 2025, which will be dedicated to addressing the Mexican economy from the perspective of the central bank: the Bank of Mexico.