Australia's Money Mandarins: The Reserve Bank and the Politics of Money

ISBN-13: 9780521839907 / Angielski / Twarda / 2004 / 250 str.

Stephen Bell

Opis

The Reserve Bank of Australia (RBA) led a fairly conservative existence until the early 1980s when the economy experienced waves of financial market deregulation and general economic liberalization. This book tells the story of monetary policy and the political role of the Reserve Bank over the past two decades. It reveals how the bank has been used as a "political football," describes conflicts with the government and the Department of Treasury, and how the bank finally adjusted to political turmoil and managed to assert a level of independence in the 1990s.

Recenzje

'… a thoroughly researched work on institutional economics - a neglected field in Australia where universities tend to classify 'economics', 'organisational behaviour' and 'politics' into separate disciplines. In transcending these artificial boundaries Bell provides insights into the decision-making process and relationships within the Bank … thanks to his extensive research, drawing both on published material and interviews with former and present senior officials, Bell has written a short history of economic policy in Australia over the last sixty years … it is an excellent summary of the problems faced by the world governments … when the Bretton Woods postwar order collapsed … It is an excellent work for any student of monetary policy.' Public Administration Today

Spis treści

1. Slowly building the Reserve Bank; 2. Into the monetary policy wilderness; 3. Snapping the stick of inflation; 4. A measure of peace? Monetary policy in the 1990s; 5. Towards RBA independence; 6. RBA independence - why?; 7. Should the RBA be independent?; 8. Internal governance and the board; 9. New challenges in a world of asset inflation.