Banking on the State - The Financial Foundations of Lebanon (Hardcover)

In 1943, Lebanon gained its formal political independence from France; only after two more decades did the country finally establish a national central bank. Inaugurated on April 1, 1964, the Banque du Liban (BDL) was billed by Lebanese authorities as the nation's primary symbol of economic sovereignty and as the last step towards full independence. In the local press, it was described as a means of projecting state power and enhancing national pride. Yet the history of its founding-stretching from its Ottoman origins in mid-nineteenth century up until the mid-twentieth-tells a different, more complex story. Banking on the State reveals how the financial foundations of Lebanon were shaped by the history of the standardization of economic practices and financial regimes within the decolonizing world. The system of central banking that emerged was the product of a complex interaction of war, economic policies, international financial regimes, post-colonial state-building, global currents of technocratic knowledge, and private business interests. It served rather than challenged the interests of an oligarchy of local bankers. As Hicham Safieddine shows, the set of arrangements that governed the central bank thus was dictated by dynamics of political power and financial profit more than market forces, national interest or economic sovereignty.

General

Imprint:	Stanford University Press
Country of origin:	United States
Series:	Stanford Studies in Middle Eastern and Islamic Societies and Cultures
Release date:	June 2019
First published:	2019
Authors:	Hicham Safieddine
Dimensions:	229 x 152 x 22mm (L x W x T)
Format:	Hardcover - Cloth / Cloth
Pages:	272
ISBN-13:	978-1-5036-0549-7
Categories:	Books > Humanities > History > World history > General Books > Humanities > History > Asian / Middle Eastern history > General Books > Humanities > History > History of specific subjects > Economic history Books > History > Asian / Middle Eastern history > General Books > History > History of specific subjects > Economic history Books > History > World history > General Promotions
LSN:	1-5036-0549-3
Barcode:	9781503605497

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