Specialized master's degree for early / mid-career central bankers managing systemic risk. It radically rethinks previous attempts at a history of monetary institutions by avoiding institutional approach and shifting the focus away from the Anglo-American. Request PDF | The evolution of central banking: theory and history by Stefano Ugolini, Palgrave Macmillan, pages | This book review is.
The evolution of central banking theory and history -
While books about central banks were, of course, published prior to the events of , none captured the attention of the wider public until the monetary authorities intervened on a massive scale and continue to do so well over a decade since the near collapse of the global financial system. Net Administrator administrator eh. Stefano Ugolini, an Assistant Professor at the University of Toulouse, argues that this strategy, termed the institutionalist approach by the author, is not satisfactory. All rights reserved. Unfortunately, the latter expression is never sufficiently clearly explained. London: Palgrave Macmillan, All EH. Reviewed for EH. Nevertheless, the author is careful to highlight how in some countries, such as the United States, the tension between a role for government the evolution of central banking theory and history
a preference for a strong role by the private sector in carrying out certain financial functions can explain certain cross-country differences in how central banks evolved when viewed through the lens of the functional approach. The approach taken is a fresh one and will be useful, especially to scholars who are interested in specific areas where central banks have played an important role in economic development over time. This is a shame in light of the ongoing debate about whether central banks are possibly over-burdened with responsibilities.