
As an Amazon Associate and affiliate partner, Menrva Books earns from qualifying purchases. Learn more
This book, published in association with the Bank of England, assesses the damaging effects of inflationary finance, financial repression and excessive government borrowing from abroad on economic performance in 111 countries. It then presents a practical guide to developing voluntary domestic markets for government debt. The book focuses on some of the practical issues involved in establishing a functional market for government debt in countries that have not so far developed one. To obtain a better understanding of the changes involved, the Bank of England asked the central banks in Ghana, India, Jamaica, Malaysia, Mexico, New Zealand, Sri Lanka and Zimbabwe, countries that had recently developed voluntary domestic markets for government debt, to answer some questions about the process of changes. All eight central banks responded and much of the material in the book is based on these questionnaire responses.
This book investigates the mechanisms required to transition from inflationary finance and financial repression toward the establishment of functional, voluntary domestic markets for government debt. The authors, including former Bank of England Governor Eddie George, utilize a comparative analysis of 111 countries to illustrate the negative impacts of excessive foreign borrowing and state-controlled financial systems. By synthesizing empirical data with direct insights from central banks in eight developing nations, the text provides a structured framework for policy reform and market development.
What You Will Find
Experts recognize this work as a foundational reference for central bankers and policymakers navigating the complexities of financial liberalization. Readers frequently note the practical utility of the case studies, which provide a clear roadmap for institutional development based on real-world implementation experiences.
Page Count:
0
Publication Date:
1900-01-01
Publisher:
Routledge
ISBN-10:
0203286634
ISBN-13:
9780203286630
No comments yet. Be the first to share your thoughts!