LEADER 04280nam 2200625Ia 450 001 9910786964903321 005 20211028023945.0 010 $a0-674-07361-4 010 $a0-674-07359-2 024 7 $a10.4159/harvard.9780674073593 035 $a(CKB)2670000000367951 035 $a(EBL)3301304 035 $a(SSID)ssj0000886633 035 $a(PQKBManifestationID)11499650 035 $a(PQKBTitleCode)TC0000886633 035 $a(PQKBWorkID)10835065 035 $a(PQKB)10125810 035 $a(DE-B1597)209746 035 $a(OCoLC)844923104 035 $a(OCoLC)853264007 035 $a(DE-B1597)9780674073593 035 $a(Au-PeEL)EBL3301304 035 $a(CaPaEBR)ebr10713631 035 $a(MiAaPQ)EBC3301304 035 $a(EXLCZ)992670000000367951 100 $a20121119d2013 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe rise of the People's Bank of China$b[electronic resource] $ethe politics of institutional change /$fStephen Bell and Hui Feng 210 $aCambridge $cHarvard University Press$d2013 215 $a1 online resource (384 p.) 300 $aDescription based upon print version of record. 311 0 $a0-674-07249-9 320 $aIncludes bibliographical references and index. 327 $tFront matter --$tContents --$tAbbreviations Used in Text --$tPART ONE: Aims and Theoretical Context --$t1. Introduction --$t2. Explaining Institutional Change: An Agents- in- Contexts Approach --$tPART TWO: The Institutional Rise of the PBC --$t3. The People's Bank in the Shadow of the Plan, 1978- 92 --$t4. Monetary Policy in the Shadow of the Plan, 1978- 92 --$t5. The Second Reform Era: A New Context for the PBC --$t6. The Growth of Mutual Dependency between the PBC and the Party Leadership --$t7. Formal Institutional Change and the Rise of the PBC in the Second Reform Era, 1992- 2011 --$tPART THREE: The PBC and the Politics of Money and Financial Development in China --$t8. In Search of a New Monetary Policy Framework --$t9. Monetary Policy in the Second Reform Era, 1992- 2011 --$t10. The PBC and China's Foreign Exchange Rate Policy --$t11. The PBC and Financial Reforms in China since 2003 --$tNotes --$tReferences --$tAcknowledgments --$tIndex 330 $aWith$4.5 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. 606 $aBanks and banking$zChina 606 $aMonetary policy$zChina 607 $aChina$xPolitics and government$y1976-2002 607 $aChina$xPolitics and government$y2002- 615 0$aBanks and banking 615 0$aMonetary policy 676 $a332.1/10951 700 $aBell$b Stephen$f1954-$01529537 701 $aFeng$b Hui$0849519 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910786964903321 996 $aThe rise of the People's Bank of China$93773850 997 $aUNINA