Promoting Global Monetary and Financial Stability: The Bank for International Settlements after Bretton Woods, 1973–2020 (Studies in Macroeconomic History)

A multi-faceted look at what global central bank cooperation has - and has not - achieved over the past half century. "As the global organisation of central banks, the Bank for International Settlements (BIS) has played a significant role in the momentous changes the international monetary and financial system has undergone over the past half century. This book offers a key contribution to understanding these changes. It explores the rise of the emerging market economies, the resulting shifts in the governance of the international financial system, and the role of central bank cooperation in this process. In this truly multidisciplinary effort, scholars from the fields of economics, history, political science and law unravel the most poignant episodes that marked this period, including European monetary unification, the paradigm shifts in economic and financial analysis, the origins and influence of macro-financial stability frameworks, the rise of soft law in international financial governance, central bank crisis management in the wake of the Great Financial Crisis, and, finally, the institutional evolution of the BIS itself" Copyright_page Contents List of Graphs and Tables Contributors Foreword Acknowledgements Abbreviations Introduction 1 The BIS and the European Monetary Experiment 2 The Governance of the Bank for International Settlements, 1973–2020 The BIS in Pictures, 1973–2020 3 A Theory of Everything 4 Tower of Contrarian Thinking 5 Exchange Rates, Capital Flows and the Financial Cycle 6 The Bank for International Settlements Annex 1 BIS Chronology Annex 2 BIS-Based Committees – Membership, Chairs and Secretaries, 1962–2020 Annex 3 BIS Balance Sheet, 1980–2019 Annex 4 Current and Former Functionaries of the BIS Board of Directors and BIS Management, 1973–2020 Annex 5 Shareholding Members of the BIS as on 1 July 2020 Note on Sources Bibliography Index "When the BIS was established in 1930 it had two purposes. The most obvious practical concern was to handle a narrowly technical issue: to create a painless or crisis-minimising method for making the transfer of German postwar reparations payments. But the new institution also had a more encompassing goal, defined in its statutes, of promoting 'cooperation of central banks' in order to foster monetary stability"-- Provided by publisher Independent scholars from disciplines including economics, history, political science, and law, explain the Bank for International Settlements, the global organisation of central banks. They shed light on how, over the past half century, the BIS has influenced and helped shape the international monetary and financial system.