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Zusatztext "We get an insider's view of the nuts and bolts of central banking, but not so inside that the authors are uncritical. They readily identify the pressure to change regulations or advice when regulators feel under pressure to display expertise in new issues. . . . These are snippets of insight that only critical insiders know how to capture." ---Dick Bryan, Australian Review of Public Affairs Informationen zum Autor Howard Davies is director of the London School of Economics and Political Science. Previously! he was chairman of the United Kingdom's Financial Services Authority and deputy governor of the Bank of England. David Green has worked for almost forty years as a central banker and financial regulator! principally at the Bank of England and the Financial Services Authority. Davies and Green are the authors of Global Financial Regulation . Klappentext Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether! in light of the recent economic fallout! the central banking model needs radical reform. Supported by interviews with leading central bankers from around the world! and informed by the latest academic research! Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy! the appropriate role for central banks in banking supervision! the ways in which central banks provide liquidity to markets! the efficiency and cost-effectiveness of central banks! the culture and individuals working in these institutions! as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations! including a reformulation of monetary policy! better metrics for financial stability! closer links with regulators! and a stronger emphasis on international cooperation. Zusammenfassung The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. This title provides an insider's look into how central banks have evolved and why they are critical to the functioning of market economies. Inhaltsverzeichnis Preface vii Abbreviations ix Introduction 1 Chapter One: What Is Central Banking and Why Is It Important? 9 Chapter Two: Monetary Stability 23 Chapter Three: Financial Stability 52 Chapter Four: Financial Infrastructure 90 Chapter Five: Asset Prices 115 Chapter Six: Structure! Status! and Accountability 141 Chapter Seven: Europe: A Special Case 182 Chapter Eight: Central Banking in Emerging Market Countries 212 Chapter Nine: Financial Resources! Costs! and Efficiency 236 Chapter Ten: International Cooperation 252 Chapter Eleven: Leadership 270 Chapter Twelve: An Agenda for Change 285 Afterword 297 Notes 301 Index 317 ...
