Borrowing Credibility: Global Banks and Monetary Regimes (Grittersova Jana)(Pevná vazba)

Borrowing Credibility: Global Banks and Monetary Regimes (Grittersova Jana)(Pevná vazba)

Borrowing Credibility: Global Banks and Monetary Regimes (Grittersova Jana)(Pevná vazba)

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Borrowing Credibility: Global Banks and Monetary Regimes (Grittersova Jana)(Pevná vazba) - popis produktu

Nations with credible monetary regimes borrow at lower interest rates in international markets and are less likely to suffer speculative attacks and currency crises. While scholars typically attribute credibility to domestic institutions or international agreements, Jana Grittersov argues that when reputable multinational banks headquartered in Western Europe or North America open branches and subsidiaries within a nation, they enhance that nation's monetary credibility. These banks enhance credibility by promoting financial transparency in the local system, improving the quality of banking regulation and supervision, and by serving as private lenders of last resort. Reputable multinational banks provide an enforcement mechanism for publicized economic policies, signaling to international financial markets that the host government is committed to low inflation and stable

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