Money markets and politics a study of European financial integration and monetary policy options
The dramatic evolution of financial markets in the 1980s and 1990s, accompanied by increasing institutional integration between nations (most notably in the EU), have fostered a widespread belief that governments - particularly those of small economies - have essentially lost the power to pursue sov...
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| Format: | eBook |
| Language: | English |
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Cheltenham
E. Elgar
c2003
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | The dramatic evolution of financial markets in the 1980s and 1990s, accompanied by increasing institutional integration between nations (most notably in the EU), have fostered a widespread belief that governments - particularly those of small economies - have essentially lost the power to pursue sovereign, independent economic policies. At the same time, it is widely assumed that the loss of monetary-policy control is a major opportunity cost for a country adopting a rigid exchange-rate regime or, in the European context, for countries joining the EMU This book sheds light on these arguments 1. Introduction -- 2. Background indicators of economic and financial development and integration -- 3. Money market formation and transformation -- 4. Money market development and monetary policy operations -- 5. External arrangements : exchange rate regimes and capital controls -- 6. Measuring capital mobility : the degree of direct money market integration -- 7. Monetary policy autonomy under different institutional regimes -- 8. Money market development and monetary policy options : concluding remarks |
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| Physical Description: | x, 290 p ill |
| ISBN: | 1843764458 9781781950197 9781843764458 |