The rise of the People's Bank of China : the politics of institutional change
Author(s)
Bibliographic Information
The rise of the People's Bank of China : the politics of institutional change
Harvard University Press, 2013
Available at 12 libraries
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  Iwate
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  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
332.1-926081201400058
Note
Includes bibliographical references (p. [325]-359) and index
Description and Table of Contents
Description
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. In the early 1990s, the PBC-benefitting from political patronage and perceptions of its unique professional competency-found itself positioned to help steer the Chinese economy toward a more liberal, market-oriented system. 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. 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.
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