The Past and Future of Central Bank Cooperation

Overview

This book explores the past and future of central bank cooperation. In today's global economy, the cooperation among central banks is a key element in maintaining or restoring monetary and financial stability, thereby ensuring a smooth functioning of the international financial system. Or is it? In this book, economists, historians, and political scientists look back at the experience of central bank cooperation during the past century, at its goals, nature, and processes, and at its successes and failures, and ...
See more details below
Other sellers (Paperback)
  • All (5) from $37.03   
  • New (3) from $37.03   
  • Used (2) from $63.67   
Sending request ...

Overview

This book explores the past and future of central bank cooperation. In today's global economy, the cooperation among central banks is a key element in maintaining or restoring monetary and financial stability, thereby ensuring a smooth functioning of the international financial system. Or is it? In this book, economists, historians, and political scientists look back at the experience of central bank cooperation during the past century, at its goals, nature, and processes, and at its successes and failures, and draw lessons for the future. Particular attention is devoted to the role played by central bank cooperation in the formulation of minimum capital standards for internationally active banks (the Basel Capital Accord, Basel II) and in the process of European monetary unification and the introduction of the euro.
Read More Show Less

Editorial Reviews

From the Publisher
“Central banks play as central a role in economic welfare and financial stability today as they have ever played. And globalization makes cooperation among monetary and financial authorities even more crucial than before. This volume throws valuable new light on the way cooperation has been conducted in the past and on some of the key issues that will confront central bank collaboration in the future.”
- Sir Andrew Crockett, President, JP Morgan Chase International

“This clear and well researched book on 130 years of central bank cooperation will be a unique tool for historians and economists. It doesn't discuss the desirability of cooperation but it explains how it worked (or, in some cases, did not work).”
- Jacques de Larosière, Former President, European Bank for Reconstruction and Development

“The worldwide financial crisis of 2007-08 makes this book very timely. Surveying more than a century of experience, the authors demonstrate that central bank cooperation can help to avoid financial crises or limit the economic damage resulting from them. Conversely, non-cooperation can have disastrous consequences. The book is required reading for central bankers, economic policymakers, and all concerned with our defenses against financial and economic debacles.”
- Richard Sylla, Stern School of Business, New York University

"These well-written essays on the past century of the central bank cooperation consider its successes and failures and their implications for the future.... The essays address a timely topic and are not overly technical, making the work accessible to a wide audience. Recommended."
- Choice

"...a nice, short, sensible introduction." - EH.net

Read More Show Less

Product Details

  • ISBN-13: 9780521187572
  • Publisher: Cambridge University Press
  • Publication date: 2/17/2011
  • Series: Studies in Macroeconomic History Series
  • Pages: 260
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.80 (d)

Meet the Author

Claudio Borio is Head of Research and Policy Analysis at the Bank for International Settlements (BIS), where he has worked since 1987 covering various responsibilities in the Monetary and Economic Department. Dr. Borio was formerly a Lecturer and Research Fellow at Brasenose College, Oxford and an economist at the Organisation for Economic Co-operation and Development (OECD). He holds a D.Phil. and an M.Phil. in economics from Oxford and has published extensively in the fields of monetary policy, banking, finance, and issues related to financial stability.

Gianni Toniolo is Research Professor of Economics and History at Duke University, Durham, NC; a Research Fellow of the Centre for Economic Policy Research (CEPR), London; and a member of the Academia Europaea. He was previously Professor of Economics at the University of Rome, Tor Vergata, and at Ca'Foscari, the University of Venice. He is a former President of the European Historical Economics Society. Toniolo's books include An Economic History of Liberal Italy, 1850-1918 (1990); Central Bank Cooperation at the Bank for International Settlements (Cambridge University Press, 2005, with the assistance of Piet Clement); and The International Economy Between the Wars (2008, with Charles H. Feinstein and Peter Temin).

Piet Clement is Head of Library, Archives and Research Support at the Bank for International Settlements. He holds a Ph.D. from the Catholic University of Leuven, Belgium, and has published on the history of international cooperation and of the BIS.

Read More Show Less

Table of Contents

Introduction Past and Future of Central Bank Cooperation Piet Clement Clement, Piet 1

1 One Hundred and Thirty Years of Central Bank Cooperation: A BIS Perspective Claudio Borio Borio, Claudio Gianni Toniolo Toniolo, Gianni 16

2 Almost a Century of Central Bank Cooperation Richard N. Cooper Cooper, Richard N. 76

3 Architects of Stability? International Cooperation among Financial Supervisors Ethan B. Kapstein Kapstein, Ethan B. 113

4 Central Banks, Governments, and the European Monetary Unification Process Alexandre Lamfalussy Lamfalussy, Alexandre 153

5 The Future of Central Bank Cooperation Beth A. Simmons Simmons, Beth A. 174

6 Interdependence and Cooperation: An Endangered Pair? Tommaso Padoa-Schioppa Padoa-Schioppa, Tommaso 211

Bibliography 221

Index 237

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)