Until recently, central bank independence was confined to just two
major capitalist countries, the USA and Germany. As a result of
stagflation and the voguish espousal of neo-liberalism in the
1980s, the institution has been adopted in most OECD and in many
other countries. This book questions the principle of autonomy,
examining the Bundesbank in historical context and exposing the
flaws in both the technical and the political case for the
wholesale adoption of the Bundesbank model by other states.
General
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