Title Central banking and financialization : a Romanian account of how Eastern Europe became subprime / by Daniela Gabor

Published Basingstoke : Palgrave Macmillan, 2011

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Description 1 online resource (1 volume) : illustrations Series Studies in economic transition Studies in economic transition. Contents Introduction -- The Political Economy of Central Banking: from Keynesianism to inflation targeting -- The 'Gradualist' Years: 1990-1996 -- The Dawn of a New Era: 1997-2005 -- Inflation Targeting in the Run-up to the Crisis -- Coping in the Subprime Region -- Conclusion and Implications Summary At the beginning of 2009, Eastern Europe became the source of increasing concerns, as it was feared that the large foreign borrowing of its banking system could trigger an economic cataclysm. This book explores how and why Eastern Europe became subprime, taking Romania as a paradigmatic case study. It explains the region's vulnerability through the hegemony of neoliberal discourses and growing pressures of financialization in money and currency markets. The volume identifies central banks as key institutions in the reconstitution of formerly planned economies. It advances a conceptual approach to the political economy of central banking that distinguishes between monetary theory, policy discourse and practices of monetary management. This re-politicization is fundamental for understanding how central banks are produced through, and operate within, processes of neoliberal financialization. This book is indispensable reading for all interested in banking, monetary economics, political economy and development economics Bibliography Includes bibliographical references (pages 235-250) and index Notes Print version record Subject Banks and banking, Central -- Europe, Eastern Neoliberalism -- Europe, Eastern Subprime mortgage loans -- Europe, Eastern Decommunization -- Economic aspects -- Europe, Eastern Development economics. Political economy. Monetary economics. Banking. BUSINESS & ECONOMICS -- Banks & Banking. Economics. Banks and banking, Central Economic policy Neoliberalism Subprime mortgage loans Nationalbanker -- Östeuropa. Nyliberalism -- Östeuropa. SUBJECT Europe, Eastern -- Economic policy -- 1989- http://id.loc.gov/authorities/subjects/sh91005698 Subject Eastern Europe Form Electronic book ISBN 9780230295049 0230295045 1349325058 9781349325054

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