Hardback
Success and Failure in Monetary Reform
Monetary Commitment and the Role of Institutions
9781840648171 Edward Elgar Publishing
This innovative book uses mainstream theoretical analysis to explain the successes and failures of monetary reforms.
More Information
Critical Acclaim
Contents
More Information
This innovative book uses mainstream theoretical analysis to explain the successes and failures of monetary reforms.
Andreas Freytag argues that there is a systematic economic relationship between the success of a reform, the degree of monetary commitment and the institutional setting in a particular country. The book begins with a theoretical discussion of this relationship, and a formalisation of the theory of monetary reform. It goes on to offer an empirical assessment of the theory, using cross-section methods and case studies, before finally presenting economic policy options for countries facing monetary problems.
Success and Failure in Monetary Reform will be of unique interest to economists and central banks. Scholars and students of monetary economics all over the world, in particular in developing countries, will also find this book invaluable.
Andreas Freytag argues that there is a systematic economic relationship between the success of a reform, the degree of monetary commitment and the institutional setting in a particular country. The book begins with a theoretical discussion of this relationship, and a formalisation of the theory of monetary reform. It goes on to offer an empirical assessment of the theory, using cross-section methods and case studies, before finally presenting economic policy options for countries facing monetary problems.
Success and Failure in Monetary Reform will be of unique interest to economists and central banks. Scholars and students of monetary economics all over the world, in particular in developing countries, will also find this book invaluable.
Critical Acclaim
‘Success and Failure in Monetary Reform is a volume that should be read by policy analysts and policymakers who are considering reforms in any segment of a country’s economy.’
– M.K. Ulan, Journal of Economics/Zeitschrift für Nationalökonomie
– M.K. Ulan, Journal of Economics/Zeitschrift für Nationalökonomie
Contents
Contents: Foreword 1. Introduction 2. Inflation, Credibility and Monetary Commitment 3. Institutional Constraints to Monetary Policy 4. The Positive Theory of Monetary Reform 5. The Empirical Analysis: Some Facts and Figures 6. Cross Country Studies: Commitment and Institutions Matter 7. Successful and Unsuccessful Monetary Reforms: The Case Studies 8. Economic Policy Options 9. Summary and Conclusion Appendix 1: Sample of Countries Appendix 2: Detailed Explanations and Alternative Specifications of the Variables Appendix 3: Calculated Degree of Commitment Appendix 4: The Institutional Factors Calculated References Index
