Gatekeepers of Growth

The International Political Economy of Central Banking in Developing Countries

Sylvia Maxfield (Autor)

Buch | Hardcover

192 Seiten

1997
Princeton University Press (Verlag)
978-0-691-02687-9 (ISBN)

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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. This study focuses on central banking in emerging market economies. Surveying the dramatic worldwide trend towards increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, centre on the character of international financial intermediation. Going beyond an explanation of central bank independence, 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. 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 signalling explanation of broad trends in central bank status.

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.

Zusatzinfo	21 tables
Verlagsort	New Jersey
Sprache	englisch
Maße	197 x 254 mm
Gewicht	510 g
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	0-691-02687-4 / 0691026874
ISBN-13	978-0-691-02687-9 / 9780691026879
Zustand	Neuware