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Central Banking in the Twentieth Century (Hardcover)
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Central Banking in the Twentieth Century (Hardcover)
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Central banks are powerful but poorly understood organisations. In
1900 the Bank of Japan was the only central bank to exist outside
Europe but over the past century central banking has proliferated.
John Singleton here explains how central banks and the profession
of central banking have evolved and spread across the globe during
this period. He shows that the central banking world has
experienced two revolutions in thinking and practice, the first
after the depression of the early 1930s, and the second in response
to the high inflation of the 1970s and 1980s. In addition, the
central banking profession has changed radically. In 1900 the
professional central banker was a specialised type of banker,
whereas today he or she must also be a sophisticated economist and
a public official. Understanding these changes is essential to
explaining the role of central banks during the recent global
financial crisis.
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