Description: Gatekeepers of Growth : The International Political Economy of Central Banking in Developing Countries, Paperback by Maxfield, Sylvia, ISBN 0691002436, ISBN-13 9780691002439, Brand New, Free shipping in the US
Central banks can shape economic growth, affect income distribution, influence a countrys 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, th argues that global forces must be at work. These forces, th 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.
Th 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.
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Book Title: Gatekeepers of Growth : The International Political Economy of Ce
Number of Pages: 192 Pages
Publication Name: Gatekeepers of Growth : The International Political Economy of Central Banking in Developing Countries
Language: English
Publisher: Princeton University Press
Item Height: 0.6 in
Subject: Banks & Banking, World / General, Development / Economic Development
Publication Year: 1998
Item Weight: 1 Oz
Type: Textbook
Author: Sylvia Maxfield
Item Length: 9 in
Subject Area: Political Science, Business & Economics
Item Width: 5.9 in
Format: Trade Paperback
