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Gatekeepers of Growth : The International Political Economy of Central Banking in Developing Countries by Maxfield, Sylvia is a nonfiction available to read on EtoBox.

What is Gatekeepers of Growth : The International Political Economy of Central Banking in Developing Countries about?

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 1990's, 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 policy making 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 centra

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Author

Maxfield, Sylvia

Publisher

Princeton University Press

Published

1998

Language

EN

ISBN

9781400822287

Category

nonfiction

Subjects

Business, Economics, Finance