This figure plots two simple measures of the influence of a research publication for major central banks and large economic research institutions such as the World Bank and IMF. Large institutions such as ECB and those in the US Federal Reserve system produce the most cited working papers. South Africa ranks near the bottom amongst major central banks.
Note that there are many alternative metrics of research influence to to capture the quality of research and the impact on the academic literature, and many alternative sources of such metrics. The overall picture is fairly similar when using alternative metrics, although the ranking of the major institutions differs. Note that for the New York Federal Reserve I have used their staff paper publication, although they produce a large quantity of other forms of research.