Description
Book SynopsisNations with credible monetary regimes borrow at lower interest rates and are less likely to suffer speculative attacks and currency crises. While scholars typically attribute credibility to domestic institutions or international agreements, Jana Grittersová argues that when reputable multinational banks open branches within a nation, they enhance that nation's monetary credibility.
Trade ReviewThe rigorous and detailed qualitative and quantitative evidence that Grittersová presents ensures that
Borrowing Credibility will become the definitive treatment of monetary reform and financial integration in Eastern Europe." - Thomas Oatley, University of North Carolina at Chapel Hill
"In
Borrowing Credibility, Jana Grittersová makes an important contribution to international political economy by showing that global banks provide previously unrecognized benefits to developing countries’ creditworthiness and financial stability. This book will definitely shape how both scholars and policymakers approach the role of international banks." - J. Lawrence Broz, University of California, San Diego
"Grittersová’s argument raises a host of interesting research questions, not least about the impact of the recent economic and financial crisis." —
Survival, 60.5 (2018)
