Money Markets and Politics

Jens Forssbæck and Lars Oxelheim

in Books from Edward Elgar Publishing

Abstract: The dramatic evolution of financial markets in the 1980s and 1990s, accompanied by increasing institutional integration between nations (most notably in the EU), have fostered a widespread belief that governments – particularly those of small economies – have essentially lost the power to pursue sovereign, independent economic policies. At the same time, it is widely assumed that the loss of monetary-policy control is a major opportunity cost for a country adopting a rigid exchange-rate regime or, in the European context, for countries joining the EMU This book sheds light on these arguments.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: F5 (search for similar items in EconPapers)
Date: 2003
ISBN: 9781843764458
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Citations: View citations in EconPapers (5)

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Chapters in this book:

Ch 1 Introduction

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Ch 2 Background Indicators of Economic and Financial Development and Integration

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Ch 3 Money Market Formation and Transformation

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Ch 4 Money Market Development and Monetary Policy Operations

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Ch 5 External Arrangements: Exchange Rate Regimes and Capital Controls

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Ch 6 Measuring Capital Mobility: The Degree of Direct Money Market Integration

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Ch 7 Monetary Policy Autonomy under Different Institutional Regimes

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Ch 8 Money Market Development and Monetary Policy Options: Concluding Remarks

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