ENGLISH

Central Banking in the Twentieth Century

By John Singleton

Book information

Publisher
Cambridge University Press
Year
2010
ISBN
9780511782053, 9780521899093
DOI
10.1017/CBO9780511782053
LCC
HG1811 .S378 2011
Google Books ID
2euHc9IW0qUC
Open Library ID
OL24383888M
Language
english
Format
PDF
Filesize
3 MB (3048425 bytes)
Pages
350\350
Orientation
yes
Scanned
no
Time added
2011-08-31 04:54:40

Description

Central banks are powerful but poorly understood organisations. In 1900 the Bank of Japan was the only central bank to exist outside Europe but over the past century central banking has proliferated. John Singleton here explains how central banks and the profession of central banking have evolved and spread across the globe during this period. He shows that the central banking world has experienced two revolutions in thinking and practice, the first after the depression of the early 1930s, and the second in response to the high inflation of the 1970s and 1980s. In addition, the central banking profession has changed radically. In 1900 the professional central banker was a specialised type of banker, whereas today he or she must also be a sophisticated economist and a public official. Understanding these changes is essential to explaining the role of central banks during the recent global financial crisis.

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