Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries
()
About this ebook
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.
Sylvia Maxfield
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.
Related to Gatekeepers of Growth
Related ebooks
States and the Reemergence of Global Finance: From Bretton Woods to the 1990s Rating: 3 out of 5 stars3/5Hypocrisy Trap: The World Bank and the Poverty of Reform Rating: 0 out of 5 stars0 ratingsThe Next Money Crash—And a Reconstruction Blueprint Rating: 0 out of 5 stars0 ratingsThe Globalizers: The IMF, the World Bank, and Their Borrowers Rating: 3 out of 5 stars3/5Capital Ideas: The IMF and the Rise of Financial Liberalization Rating: 2 out of 5 stars2/5The Great Wall of Money: Power and Politics in China's International Monetary Relations Rating: 0 out of 5 stars0 ratingsBehind the Development Banks: Washington Politics, World Poverty, and the Wealth of Nations Rating: 0 out of 5 stars0 ratingsBetween Debt and the Devil: Money, Credit, and Fixing Global Finance Rating: 4 out of 5 stars4/5Codes of Finance: Engineering Derivatives in a Global Bank Rating: 2 out of 5 stars2/5Globalizing Capital: A History of the International Monetary System - Third Edition Rating: 5 out of 5 stars5/5Populism and the Future of the Fed Rating: 0 out of 5 stars0 ratingsSurviving the Debt Storm: Getting capitalism back on track Rating: 0 out of 5 stars0 ratingsCurrency and Coercion: The Political Economy of International Monetary Power Rating: 0 out of 5 stars0 ratingsThe Restructuring of Capitalism in Our Time Rating: 0 out of 5 stars0 ratingsMoney, Credit, and Crises: Understanding the Modern Banking System Rating: 0 out of 5 stars0 ratingsThe Power of Collective Purse Strings: The Effect of Bank Hegemony on Corporations and the State Rating: 0 out of 5 stars0 ratingsDivided They Fell: Crisis and the Collapse of Europe's Centre-Left Rating: 0 out of 5 stars0 ratingsCurrencies, Capital, and Central Bank Balances Rating: 0 out of 5 stars0 ratingsHorizontal Equity, Uncertainty, and Economic Well-being Rating: 0 out of 5 stars0 ratingsPaper Money Collapse: The Folly of Elastic Money Rating: 4 out of 5 stars4/5Globalisation Fractures: How major nations' interests are now in conflict Rating: 0 out of 5 stars0 ratingsFinancial Crises, Liquidity, and the International Monetary System Rating: 3 out of 5 stars3/5The Politics of Debt: Essays and Interviews Rating: 0 out of 5 stars0 ratingsFinance in America: An Unfinished Story Rating: 5 out of 5 stars5/5Rules for International Monetary Stability: Past, Present, and Future Rating: 0 out of 5 stars0 ratingsBankruptcy, bubbles and bailouts: The inside history of the Treasury since 1976 Rating: 0 out of 5 stars0 ratingsThe Squam Lake Report: Fixing the Financial System Rating: 4 out of 5 stars4/5Covering Globalization: A Handbook for Reporters Rating: 0 out of 5 stars0 ratingsThe Great Tradeoff: Confronting Moral Conflicts in the Era of Globalization Rating: 0 out of 5 stars0 ratingsFinancial Stability Without Central Banks Rating: 4 out of 5 stars4/5
Business Development For You
Ultralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career Rating: 4 out of 5 stars4/5Good To Great And The Social Sectors: A Monograph to Accompany Good to Great Rating: 4 out of 5 stars4/5Good to Great: Why Some Companies Make the Leap...And Others Don't Rating: 4 out of 5 stars4/5Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of The Rating: 4 out of 5 stars4/5Nolo’s Guide to Single-Member LLCs: How to Form & Run Your Single-Member Limited Liability Company Rating: 0 out of 5 stars0 ratingsThe $100 Startup by Chris Guillebeau: Summary and Analysis Rating: 4 out of 5 stars4/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5Summary of Graham Cochrane's How to Get Paid for What You Know Rating: 0 out of 5 stars0 ratingsThe Bezos Letters: 14 Principles to Grow Your Business Like Amazon Rating: 5 out of 5 stars5/5The Magic of Tiny Business: You Don’t Have to Go Big to Make a Great Living Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5How to Start a Business for Beginners: A Complete Guide to Building a Successful & Profitable Business Rating: 5 out of 5 stars5/5Rocket Fuel Rating: 0 out of 5 stars0 ratingsThe Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream Rating: 5 out of 5 stars5/5This Shit Works: A No-Nonsense Guide to Networking Your Way to More Friends, More Adventures, and More Success Rating: 0 out of 5 stars0 ratingsThe Second in Command: Unleash the Power of Your COO Rating: 0 out of 5 stars0 ratingsThe E-Myth Contractor: Why Most Contractors' Businesses Don't Work and What to Do About It Rating: 4 out of 5 stars4/5The 30 Laws of Flow: Timeless Principles for Entrepreneurial Success Rating: 5 out of 5 stars5/5The Moneyless Man: A Year of Freeconomic Living Rating: 4 out of 5 stars4/5The Crash Course: The Unsustainable Future of Our Economy, Energy, and Environment Rating: 5 out of 5 stars5/5Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days Rating: 4 out of 5 stars4/5Oneness vs. the 1%: Shattering Illusions, Seeding Freedom Rating: 4 out of 5 stars4/5Stretch: Unlock the Power of Less -and Achieve More Than You Ever Imagined Rating: 4 out of 5 stars4/5
Reviews for Gatekeepers of Growth
0 ratings0 reviews