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Central Banking, Crises, and Global Economy
(Click to Enlarge)
William Frazer
Book Code: C6463
ISBN: 0-275-96463-9
ISBN-13: 978-0-275-96463-4
424 pages, charts, figures, tables
Praeger Publishers
Publication: 1/30/2000
List Price: $138.95 (UK Sterling Price: £80.00)
Availability: Print on demand
Media Type: Hardcover
Trim Size: 6 1/8 x 9 1/4
Subjects: Reviews:
  • Throughout this exhaustived work, written from an insider's perspective, the author presents a robust account of global economic developments with special reference to how markets actually operate and how the policy decicions that shape them are made.
    —Review of Radical Political Economics     Winter 2003
Description: Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned to the management of liquidity crises and the attainment of economic stability. In the global economy, the respective market economies are more interconnected, and information regarding crises in one part of the industrialized world is rapidly communicated to other nations, giving the crises themselves a more immediate impact. The Asian debt and liquidity crises of 1997-98 were seen as having an impact on the United States, the European Union countries, and even China. In the effort to attain international stability, the information emanating from central banks at a policy level is crucial. This book aims to depict an ideal central bank for a globally connected country. Two developments heighten the need for such an operations/policy-based ideal: the lessons learned from the European moves to monetary union and the establishment of the European Central Bank, and the increased awareness of banking problems in Asia during the 1997-98 debt and liquidity crises. This timely work will be of interest to economists, bank officials, government policy makers and political scientists.
Table of Contents:
  • Preface
  • An Analytical/Institutional Base
  • Introduction
  • Fractional Reserves and Selected Causal Linkages
  • Liquidity and Nominal and Real Rates of Interest
  • Policy Experiments, Causal Linkages, and the Deutsche Bundesbank en Route to Monetary Union
  • U.S. Policy Experiments and the Big U-Turn
  • Open Market Operations, Friedman-System Linkages, and a Money-Policy Surrogate
  • Bundesbank History, Linkages, and Inflation-Rate Targeting
  • International Dimensions and Crises with Global Impact
  • The Managed Financial System: The International Side
  • The Asian Crises: Asia and Elsewhere
  • Asia, Elsewhere, and the IMF
  • The Golden Straightjacket
  • The Exchange-Rate and Reserve- and Capital-Flows Mechanisms
  • Growth and Inflation Rates Across Borders and Time
  • Central Banking, European, and Other Experiences
  • The Big U-Turn and Monetary Union
  • Some Money and Banking Lessons
  • The Global Economy
  • The Great Transformation, the Big U-Turn, and Russia
  • The Global Economy and Developing Economics
  • Global Economy
  • References
  • Index
LC Card Number: 99-12684
LCC Class: HG1811
Dewey Class: 332
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