Promoting Global Monetary and Financial Stability

The Bank for International Settlements after Bretton Woods, 1973–2020

Claudio Borio, Stijn Claessens, Piet Clement, Robert N. McCauley, Hyun Song Shin

• Publisher: Cambridge University Press
• Year: 2020
• Print ISBN:
  9781108495981
• eBook ISBN:
  9781108857031
• Topic: Economics
• Subtopic: Macroeconomics
• Index: Economics

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.

Table of contents

• Cover
• Half-title page
• Series page
• Title page
• Copyright page
• Contents
• List of Graphs and Tables
• List of Contributors
• Foreword by Agustín Carstens
• Acknowledgements
• List of Abbreviations
• Introduction
• 1 The BIS and the European Monetary Experiment
• 2 The Governance of the Bank for International Settlements, 1973–2020
• 3 A Theory of Everything: A Historically Grounded Understanding of Soft Law and the BIS
• 4 Tower of Contrarian Thinking: How the BIS Helped Reframe Understandings of Financial Stability
• 5 Exchange Rates, Capital Flows and the Financial Cycle: On the Origins of the BIS View
• 6 The Bank for International Settlements: If It Didn’t Exist, It Would Have to Be Invented (An Insider’s View)
• 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