Central Banking as Global Governance: Constructing Financial Credibility (Cambridge Studies in International Relations, Series Number 109)

Money is a social convention, but with what social consequences? In this innovative study, Rodney Bruce Hall argues that those who govern the parameters of money's creation, its destruction, and its valuation are responsible for the governance of international finance. The volume is an analysis of central banking as global governance, employing the institutional philosophy of John Searle as a theoretical basis for exploring the consequences of money as a social institution, and the social relations of credit and debt. While previous studies in this field have made forays into the political economy of monetary institutions, this book breaks new ground by offering a constructivist social analysis that identifies the mechanisms of governance as social rather than material processes. The volume will therefore be of great interest to a wide range of scholars and students, particularly those with an interest in international relations, international finance, and international political economy. Cover......Page 1 Frontmatter......Page 2 Contents......Page 10 Preface......Page 12 1 - Central banking as governance......Page 16 2 - The social character of money......Page 29 3 - Instituting facts and constituting rules......Page 60 4 - Constitutive power relations......Page 99 5 - Rules and international monetary systems......Page 129 6 - Central bank independence as credibility......Page 168 7 - Transparency and intersubjectivity in central banking......Page 204 Bibliography......Page 251 Index......Page 263 Cambridge Studies in International Relations......Page 272 Cover 1 Frontmatter 2 Contents 10 Preface 12 1 - Central banking as governance 16 2 - The social character of money 29 3 - Instituting facts and constituting rules 60 4 - Constitutive power relations 99 5 - Rules and international monetary systems 129 6 - Central bank independence as credibility 168 7 - Transparency and intersubjectivity in central banking 204 Bibliography 251 Index 263 Cambridge Studies in International Relations 272 9780521727211 Cambridge Studies in International Relations (No. 109)

An original analysis of central banking as global governance, developing the social relations of money, credit, and debt.