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Author: Steffen Elkiær Andersen
Publisher: Springer
ISBN: 3319397508
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
This book explores the formation and evolution of Scandinavian central banks. It begins by defining the nature of “central banking” in general, before moving on to investigate how and when it became meaningful to regard today’s Scandinavian central banks as such. It also explores how Scandinavian central banks have conformed to the defined ideals of “central banks” over the last 100 years, clarifying the distinctions between commercial banks and central banks, and between central banks and departments of governments. The author shows how the outbreak of the Great War was the catalyst which fundamentally transformed the originally purely commercial banks into “central banks”. The book also analyses how different the three Scandinavian central banks are, how these differences can be explained by the different political and economic circumstances surrounding their original formation, and the differences in the political environments in which they later developed.
Author: Steffen Elkiær Andersen
Publisher: Springer
ISBN: 3319397508
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
This book explores the formation and evolution of Scandinavian central banks. It begins by defining the nature of “central banking” in general, before moving on to investigate how and when it became meaningful to regard today’s Scandinavian central banks as such. It also explores how Scandinavian central banks have conformed to the defined ideals of “central banks” over the last 100 years, clarifying the distinctions between commercial banks and central banks, and between central banks and departments of governments. The author shows how the outbreak of the Great War was the catalyst which fundamentally transformed the originally purely commercial banks into “central banks”. The book also analyses how different the three Scandinavian central banks are, how these differences can be explained by the different political and economic circumstances surrounding their original formation, and the differences in the political environments in which they later developed.
Author: Ulrich Bindseil
Publisher: Oxford University Press
ISBN: 0192589938
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
Although central banking is today often presented as having emerged in the nineteenth or even twentieth century, it has a long and colourful history before 1800, from which important lessons for today's debates can be drawn. While the core of central banking is the issuance of money of the highest possible quality, central banks have also varied considerably in terms of what form of money they issued (deposits or banknotes), what asset mix they held (precious metals, financial claims to the government, loans to private debtors), who owned them (the public, or private shareholders), and who benefitted from their power to provide emergency loans. Central Banking Before 1800: A Rehabilitation reviews 25 central banks that operated before 1800 to provide new insights into the financial system in early modern times. Central Banking Before 1800 rehabilitates pre-1800 central banking, including the role of numerous other institutions, on the European continent. It argues that issuing central bank money is a natural monopoly, and therefore central banks were always based on public charters regulating them and giving them a unique role in a sovereign territorial entity. Many early central banks were not only based on a public charter but were also publicly owned and managed, and had well defined policy objectives. Central Banking Before 1800 reviews these objectives and the financial operations to show that many of today's controversies around central banking date back to the period 1400-1800.
Author: Wouter Bossu
Publisher: International Monetary Fund
ISBN: 1513524054
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.
Author: Juan E. Castañeda
Publisher: Routledge
ISBN: 1000036790
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
In this book, a historical analysis of the precedents of the euro is examined within the context of the current issues affecting the Eurozone and the long-term effects of the institutional changes implemented since 2010. The book begins by placing the Eurozone challenges in the historical context of previous monetary unions, drawing on the experience of the gold standard. It then specifically focuses on the problems arising from the running of permanent trade imbalances within the Eurozone. The authors explore the advantages and disadvantages of being a member of the Eurozone and attempt to measure the optimality of a currency area by the calculation of an index on internal macroeconomic asymmetries. They address the proposals recently made in favour of a fiscal union in the Euro zone; including the economic and political feasibility of fiscal transfers in the Eurozone. The final two papers discuss whether the monetary union is in fact more than just that, and whether it will lead inevitably to some form of political union if it is to survive. With chapters by leading experts from both Europe and the UK, this book will appeal to students in Economics, Finance, Politics, EU integration and European studies; as well as academics and professional economists doing research in EU integration, the Euro zone, monetary history and monetary and banking unions in Europe, the UK and elsewhere.
Author: Tor Jacobson
Publisher:
ISBN: 1107193109
Category : Business & Economics
Languages : en
Pages : 527
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Book Description
Offers a comprehensive analysis of the historical experiences of monetary policymaking of the world's largest central banks. Written in celebration of the 350th anniversary of the central bank of Sweden, Sveriges Riksbank. Includes chapters on other banks around the world written by leading economic scholars.
Author: Charles B. Roger
Publisher: Oxford University Press
ISBN: 0190947985
Category : Political Science
Languages : en
Pages : 289
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Book Description
The legal foundations of global governance are shifting. In addition to traditional instruments for resolving cross-border problems, such as treaties and formal international organizations, policy-makers are turning increasingly to informal agreements and organizations like the Group of Twenty, the Financial Stability Board, and the Asia Pacific Economic Cooperation. A growing number of policy-makers view such weakly-legalized organizations as promising new tools of governance, arguing that informal bodies are faster and more flexible than their formal counterparts, and better-suited to the complex problems raised by deepening interdependence. Yet, equally, political scientists have puzzled over these international organizations. At present, we still know relatively little about these bodies, why they have become so important, and whether they are indeed capable of addressing the immense challenges faced by the global community. In The Origins of Informality, Charles Roger offers a new way of thinking about informal organizations, presents new data revealing their extraordinary growth over time and across regions, and advances a novel theory to explain these patterns. In contrast with existing approaches, he locates the drivers of informality within the internal politics of states, explaining how major shifts within the domestic political arenas of the great powers have projected outwards and reshaped the legal structure of the global system. Informal organizations have been embraced because they allow bureaucrats in powerful states to maintain autonomy over their activities, and can help politicians to circumvent domestic opponents of their foreign policies. Drawing on original quantitative data, interviews, and archival research, the book analyzes some of the most important institutions governing the global economy, showing how informality has helped domestic actors to achieve their narrow political goals-even when this comes at the expense of the institutions they eventually create. Ultimately, Roger claims, the shift towards informality has allowed the number of multilateral institutions to rapidly increase in response to global problems. But, at the same time, it has coincided with a decline in their quality, leaving us less prepared for the next global crisis.
Author:
Publisher:
ISBN:
Category : Science
Languages : en
Pages : 600
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Book Description
Author: Russell Foster
Publisher: Routledge
ISBN: 1317593065
Category : Political Science
Languages : en
Pages : 363
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Book Description
Empire and maps are mutually reliant phenomena and traceable to the dawn of civilisation. Furthermore, maps retain a supremely authoritative status as unquestioned reflections of reality. In today’s image-saturated world, their influence is more powerful now than at any other time in history. This book argues that in the 21st century we are seeing an imperial renaissance in the European Union (EU), a political organisation which defies categorisation, but whose power and influence grows by the year. It examines the past, present, and future of the EU to demonstrate that empire is not a category of state but rather a collective imagination which reshapes history and appropriates an artificial past to validate the policies of the present and the ambitions of the future. In doing so, this book illuminates the imperial discourse that permeates the mass maps of the modern EU. This text will be of key interest to students and scholars of political science, EU Studies, Human Geography, European political history, cartography and visual methodologies and international relations.
Author: Peter Fearon
Publisher:
ISBN:
Category : Depressions
Languages : en
Pages : 80
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Book Description
Author: William C. Hunter
Publisher: Springer Science & Business Media
ISBN: 1461551552
Category : Business & Economics
Languages : en
Pages : 513
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Book Description
In the late 1990s, Korea, Thailand, Indonesia and Malaysia experienced a series of major financial crises evinced by widespread bank insolvencies and currency depreciations, as well as sharp declines in gross domestic production. This sudden disruption of the Asian economic `miracle' astounded many observers around the world, raised questions about the stability of the international financial system and caused widespread fear that this financial crisis would spread to other countries. What has been called the Asian crisis followed a prolonged slump in Japan dating from the early 1980s and came after the Mexican currency crisis in the mid-1990s. Thus, the Asian crisis became a major policy concern at the International Monetary Fund as well as among developed countries whose cooperation in dealing with such financial crises is necessary to maintain the stability and efficiency of global financial markets. This book collects the papers and discussions delivered at an October 1998 Conference co-sponsored by the Federal Reserve Bank of Chicago and the International Monetary Fund to examine the causes, implications and possible solutions to the crises. The conference participants included a broad range of academic, industry, and regulatory experts representing more than thirty countries. Topics discussed included the origin of the individual crises; early warning indicators; the role played by the global financial sector in this crisis; how, given an international safety net, potential risks of moral hazard might contribute to further crises; the lessons for the international financial system to be drawn from the Asian crisis; and what the role of the International Monetary Fund might be in future rescue operations. Because the discussions of these topics include a wide diversity of critical views and opinions, the book offers a particularly rich presentation of current and evolving thinking on the causes and preventions of international banking and monetary crises. The book promises to be one of the timeliest as well as one of the most complete treatments of the Asian financial crisis and its implications for future policymaking.
