Description
Book SynopsisCentral banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. This book focuses on central banking in emerging market countries. It suggests that central bank independence in emerging market countries does not spring from law but rather from politics.
Trade ReviewThis is a first-rate book on a very important issue: the sources and effects of central bank independence. For students of international political economy, the question of how central banks acquire influence has become an extremely hot topic in recent years. Maxfield's work is the first book-length study I know of that deals with the role of central banks in developing countries. ert Kaufman, Rutgers University
Table of ContentsAcknowledgments1Central Bank Independence: Why the Interest?32The Political Sources of Central Bank Independence193International Capital Flows and the Politics of Central Bank Independence354Central Bank Independence in the 1990s505The Politics of Changing Central Bank Authority: Thailand716The Politics of Changing Central Bank Authority: Mexico917The Politics of Changing Central Bank Authority: South Korea1078The Politics of Changing Central Bank Authority: Brazil1219Conclusion138Notes151Index181
