04280nam 2200625Ia 450 991081824750332120211028023945.00-674-07361-40-674-07359-210.4159/harvard.9780674073593(CKB)2670000000367951(EBL)3301304(SSID)ssj0000886633(PQKBManifestationID)11499650(PQKBTitleCode)TC0000886633(PQKBWorkID)10835065(PQKB)10125810(DE-B1597)209746(OCoLC)844923104(OCoLC)853264007(DE-B1597)9780674073593(Au-PeEL)EBL3301304(CaPaEBR)ebr10713631(MiAaPQ)EBC3301304(EXLCZ)99267000000036795120121119d2013 uy 0engurcn|||||||||txtccrThe rise of the People's Bank of China[electronic resource] the politics of institutional change /Stephen Bell and Hui FengCambridge Harvard University Press20131 online resource (384 p.)Description based upon print version of record.0-674-07249-9 Includes bibliographical references and index.Front matter --Contents --Abbreviations Used in Text --PART ONE: Aims and Theoretical Context --1. Introduction --2. Explaining Institutional Change: An Agents- in- Contexts Approach --PART TWO: The Institutional Rise of the PBC --3. The People's Bank in the Shadow of the Plan, 1978- 92 --4. Monetary Policy in the Shadow of the Plan, 1978- 92 --5. The Second Reform Era: A New Context for the PBC --6. The Growth of Mutual Dependency between the PBC and the Party Leadership --7. Formal Institutional Change and the Rise of the PBC in the Second Reform Era, 1992- 2011 --PART THREE: The PBC and the Politics of Money and Financial Development in China --8. In Search of a New Monetary Policy Framework --9. Monetary Policy in the Second Reform Era, 1992- 2011 --10. The PBC and China's Foreign Exchange Rate Policy --11. The PBC and Financial Reforms in China since 2003 --Notes --References --Acknowledgments --IndexWith.5 trillion in total assets, the People's Bank of China now surpasses the U.S. Federal Reserve as the world's biggest central bank. The Rise of the People's Bank of China investigates how this increasingly authoritative institution grew from a Leninist party-state that once jealously guarded control of banking and macroeconomic policy. Relying on interviews with key players, this book is the first comprehensive and up-to-date account of the evolution of the central banking and monetary policy system in reform China. Stephen Bell and Hui Feng trace the bank's ascent to Beijing's policy circle, and explore the political and institutional dynamics behind its rise. In the early 1990s, the PBC-benefitting from political patronage and perceptions of its unique professional competency-found itself positioned to help steer the Chinese economy toward a more liberal, market-oriented system. Over the following decades, the PBC has assumed a prominent role in policy deliberations and financial reforms, such as fighting inflation, relaxing China's exchange rate regime, managing reserves, reforming banking, and internationalizing the renminbi. Today, the People's Bank of China confronts significant challenges in controlling inflation on the back of runaway growth, but it has established a strong track record in setting policy for both domestic reform and integration into the global economy.Banks and bankingChinaMonetary policyChinaChinaPolitics and government1976-2002ChinaPolitics and government2002-Banks and bankingMonetary policy332.1/10951Bell Stephen1954-1592928Feng Hui849519MiAaPQMiAaPQMiAaPQBOOK9910818247503321The rise of the People's Bank of China3912808UNINA