Description
Book SynopsisThis innovative book uses mainstream theoretical analysis to explain the successes and failures of monetary reforms.
Andreas Freytag argues that there is a systematic economic relationship between the success of a reform, the degree of monetary commitment and the institutional setting in a particular country. The book begins with a theoretical discussion of this relationship, and a formalisation of the theory of monetary reform. It goes on to offer an empirical assessment of the theory, using cross-section methods and case studies, before finally presenting economic policy options for countries facing monetary problems.
Success and Failure in Monetary Reform will be of unique interest to economists and central banks. Scholars and students of monetary economics all over the world, in particular in developing countries, will also find this book invaluable.
Trade Review‘Success and Failure in Monetary Reform
is a volume that should be read by policy analysts and policymakers who are considering reforms in any segment of a country's economy.' -- M.K. Ulan, Journal of Economics/Zeitschrift fur Nationalokonomie
Table of ContentsContents: Foreword 1. Introduction 2. Inflation, Credibility and Monetary Commitment 3. Institutional Constraints to Monetary Policy 4. The Positive Theory of Monetary Reform 5. The Empirical Analysis: Some Facts and Figures 6. Cross Country Studies: Commitment and Institutions Matter 7. Successful and Unsuccessful Monetary Reforms: The Case Studies 8. Economic Policy Options 9. Summary and Conclusion Appendix 1: Sample of Countries Appendix 2: Detailed Explanations and Alternative Specifications of the Variables Appendix 3: Calculated Degree of Commitment Appendix 4: The Institutional Factors Calculated References Index
