Your search for: british AND central AND banking

Central banks have emerged as the key players in national and international policy making. This book explores their evolution since World War II in 20 industrial countries. The study considers the mix of economic, political, and institutional forces that have affected central bank behavior and its ...

Central banks have emerged as the key players in national and international policy making. This book explores their evolution since World War II in 20 industrial countries. The study considers the mix of economic, political, and institutional forces that have affected central bank behavior and its relationship with government. The analysis reconciles vastly different views about the role of central banks in the making of economic policies. One finding is that monetary policy is an evolutionary process. The emphasis on clarity of objectives, transparency of the decision-making process, and a clear understanding of the accountability of the central bank cannot be understood in isolation from the previous 50 years of policy making. The changing face of central banking, born out of the turbulence of the first half of the last century, nurtured by evolution in policies, defines the history of central banking in the second half of the twentieth century.

Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned ...

Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned to the management of liquidity crises and the attainment of economic stability. In the global economy, the respective market economies are more interconnected, and information regarding crises in one part of the industrialized world is rapidly communicated to other nations, giving the crises themselves a more immediate impact. The information emanating from central banks at a policy level is crucial. This book aims to depict an ideal central bank for a globally connected country.

Central banks can shape economic growth, influence a country's foreign relations, and determine the extent of its democracy. Gatekeepers of Growth is the first book- length study focused on central banking in emerging market countries. Surveying the worldwide trend toward increased central bank ...

Central banks can shape economic growth, influence a country's foreign relations, and determine the extent of its democracy. Gatekeepers of Growth is the first book- length study focused on central banking in emerging market countries. Surveying the worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. This is an ambitious book that summarizes a lot of arguments and brings together a lot of evidence on a topic of growing interest to economists, political scientists and policymakers.... This book will be a valuable complement to the large and growing literature on the economics of central banks in industrial countries. DLStephen B. Webb, Senior Economist, The World Bank A first-rate book on a very important issue: the sources and effects of central bank independence. DLRobert Kaufman, Rutgers University