The Rise of the People's Bank of China: The Politics of Institutional Change
|Rating||:||4.61 (622 Votes)|
|Number of Pages||:||384 Pages|
Alicia Girón said Five Stars. An incredible book about the role of the central bank.. Five Stars Mototsugu Fukushige It was an excellent trade for me.
The volume is accessible to readers at all levels and is valuable reading for anyone interested in the People’s Bank of China and the dynamics between the PBC and the Chinese party-state over the past 40 years. Naughton, University of California, San Diego)The Rise of the People's Bank of China focuses on how the transition to a market economy provided an opportunity for the PBC to increase its authority in the party-state hierarchy and become a key player in deciding macroeconomic policy and financia
. Stephen Bell is Professor of Politics at the University of Queensland.Hui Feng is an ARC-funded Research Fellow in Political Science at the University of Queensland
With $4.5 trillion in total assets, the People’s Bank of China now surpasses the U.S. Federal Reserve as the world’s biggest central bank. The Rise of the People’s Bank of China investigates how this increasingly authoritative institution grew from a Leninist party-state that once jealously guarded control of banking and macroeconomic policy. Relying on interviews with key players, this book is the first comprehensive and up-to-date account of the evolution of the central banking and monetary policy system in reform China.Stephen Bell and Hui Feng trace the bank’s ascent to Beijing’s policy circle, and explore the political and institutional dynamics behind its rise. Today, the People’s Bank of China confronts significant challenges in controlling inflation on the back of runaway growth, but it has established a strong track record in setting policy for both domestic reform and integration into the global economy.. Over the following decades, the PBC has assumed a prominent role in policy deliberations and financial reforms, such as fighting inflation, relaxing China’s exchange rate regime, managing reserves, reforming banking, and internationalizing the renminbi. In the early 1990s, the PBCbenefitting from political patronage and perceptions of its unique professional compet