Borrowing Credibility

Borrowing Credibility
Author :
Publisher : University of Michigan Press
Total Pages : 311
Release :
ISBN-10 : 9780472123087
ISBN-13 : 0472123084
Rating : 4/5 (87 Downloads)

Book Synopsis Borrowing Credibility by : Jana Grittersova

Download or read book Borrowing Credibility written by Jana Grittersova and published by University of Michigan Press. This book was released on 2017-07-28 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nations with credible monetary regimes borrow at lower interest rates in international markets and are less likely to suffer speculative attacks and currency crises. While scholars typically attribute credibility to domestic institutions or international agreements, Jana Grittersová argues that when reputable multinational banks headquartered in Western Europe or North America open branches and subsidiaries within a nation, they enhance that nation’s monetary credibility. These banks enhance credibility by promoting financial transparency in the local system, improving the quality of banking regulation and supervision, and by serving as private lenders of last resort. Reputable multinational banks provide an enforcement mechanism for publicized economic policies, signaling to international financial markets that the host government is committed to low inflation and stable currency. Grittersová examines actual changes in government behavior of nations trying to gain legitimacy in international financial markets, and the ways in which perceptions of these nations change in relation to multinational banks. In addition to quantitative analysis of over 80 emerging-market countries, she offers extensive case studies of credibility building in the transition countries of Eastern Europe, Argentina in 2001, and the global financial crisis of 2008. Grittersová illuminates the complex interactions between multinational banks and national policymaking that characterize the process of financial globalization to reveal the importance of market confidence in a world of mobile capital.


Borrowing Credibility Related Books

Borrowing Credibility
Language: en
Pages: 311
Authors: Jana Grittersova
Categories: Political Science
Type: BOOK - Published: 2017-07-28 - Publisher: University of Michigan Press

DOWNLOAD EBOOK

Nations with credible monetary regimes borrow at lower interest rates in international markets and are less likely to suffer speculative attacks and currency cr
Lending Credibility
Language: en
Pages: 311
Authors: Randall W. Stone
Categories: Political Science
Type: BOOK - Published: 2012-01-06 - Publisher: Princeton University Press

DOWNLOAD EBOOK

With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the
Monetary Policy Credibility and Exchange Rate Pass-Through
Language: en
Pages: 33
Authors: Mr.Yan Carriere-Swallow
Categories: Business & Economics
Type: BOOK - Published: 2016-12-13 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a
Resetting the International Monetary (Non)System
Language: en
Pages: 296
Authors: José Antonio Ocampo
Categories: Business & Economics
Type: BOOK - Published: 2017 - Publisher: Oxford University Press

DOWNLOAD EBOOK

This volume provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monet
Credibility and the International Monetary Regime
Language: en
Pages: 257
Authors: Michael D. Bordo
Categories: Business & Economics
Type: BOOK - Published: 2012-04-09 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

This book presents ten studies which combine historical narrative with econometrics to analyze the role of credibility in four monetary regimes.