Gatekeepers of Growth (eBook)

The International Political Economy of Central Banking in Developing Countries

Sylvia Maxfield (Autor)

eBook Download: PDF

1998
192 Seiten
Princeton University Press (Verlag)
978-1-4008-2228-7 (ISBN)

Infos

Sylvia Maxfield is Associate Professor of Political Science and Management at Yale University. Among her works is Letting Capital Loose: Financial Liberalization in Interventionist States.

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Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. 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. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.

Produkt-Details

• Erscheint lt. Verlag: 13.7.1998
• Zusatzinfo: 21 tables
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Politische Theorie
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: Adaptive Expectations • Asset Management • bank failure • Bank of Mexico • Bank regulation • Barry R. Weingast • Bond (finance) • Bretton Woods System • Budget Process • Capital Allocation • Capital control • Central Bank • Coalition Government • Commercial Bank • corporation • Credit Control • Credit Crunch • Credit (finance) • credit risk • Currency • Currency Board • David Romer • Debt Crisis • Debt Overhang • debt relief • Deficit Spending • Democracy and economic growth • Devaluation • developed country • Doug Henwood • economic forces • Economic ideology • economic interventionism • Economic Liberalization • Economic Policy • Economics • Eurodollar • Expansionary Policy • Export Performance • External Debt • Fiat Money • Finance • Financial Crisis • financial integration • Financial Intermediary • Financial Repression • Financial Times • Fiscal Policy • Foreign Direct Investment • foreign exchange reserves • Global Finance (magazine) • Global financial system • Government bond • Government Debt • government paper • government revenue • Governor of the Bank of England • Inflation • Inflation Targeting • Insolvency • Intermediation • International Finance Corporation • International Monetary Fund • Keynesian Economics • Liberalization • Libor • Margin (finance) • monetary authority • monetary policy • Monetary Reform • Nationalization • National policy • New Economic Policy • New Keynesian Economics • Open market operation • Paul Krugman • Paul Volcker • Peso • Phillips Curve • popular sovereignty • Producer Price Index • Public Finance • purchasing power • Real bills doctrine • Recession • right-wing politics • security studies • Seigniorage • Semi-parliamentary system • Social Democracy • sovereign default • stabilization policy • Stagflation • State bank • State Bank of Pakistan • Tax • technocracy • Tight Monetary Policy • total loss • Trade Credit
• ISBN-10: 1-4008-2228-9 / 1400822289
• ISBN-13: 978-1-4008-2228-7 / 9781400822287