Central Banking as Global Governance: Constructing Financial Credibility

Central Banking as Global Governance: Constructing Financial Credibility

by Rodney Bruce Hall


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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.

Product Details

ISBN-13: 9780521727211
Publisher: Cambridge University Press
Publication date: 12/04/2008
Series: Cambridge Studies in International Relations , #109
Pages: 278
Product dimensions: 5.90(w) x 8.90(h) x 0.60(d)

About the Author

Rodney Bruce Hall is University Lecturer in International Political Economy at Queen Elizabeth House, Oxford University

Table of Contents

1. Central banking as governance; 2. The social character of money; 3. Instituting facts and constituting rules; 4. Constitutive power relations; 5. Rules and international monetary systems; 6. Central bank independence as credibility; 7. Transparency and intersubjectivity in central banking.

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