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The Currency of Power: The IMF and Monetary Reform in Central Asia
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Broome, André (2010) The Currency of Power: The IMF and Monetary Reform in Central Asia. International Political Economy Series . Basingstoke: Palgrave Macmillan. ISBN 9780230240056
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Official URL: http://www.palgrave.com/products/title.aspx?PID=38...
Item Type: | Book | ||||
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Divisions: | Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation Faculty of Social Sciences > Politics and International Studies |
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Series Name: | International Political Economy Series | ||||
Publisher: | Palgrave Macmillan | ||||
Place of Publication: | Basingstoke | ||||
ISBN: | 9780230240056 | ||||
Official Date: | 10 March 2010 | ||||
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Number of Pages: | 256 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Copyright Holders: | Andre Broome | ||||
Description: | States aggressively defend their right to make national monetary policy choices as a fundamental sovereign prerogative. This book examines how the International Monetary Fund engages in the politics of ideas to shape monetary system change in conditions of extreme economic uncertainty. Drawing on case studies from post-Soviet Central Asia, André Broome explains that how governments interpret their policy options mediates the IMF's influence over policy reform in periods of financial crisis. The book also shows how IMF staff play a larger role in determining access to loans than is often recognized by scholars who focus on major power influence on the IMF. By acting as a reputational intermediary, the IMF attempts to boost its impact on national policy reform in exchange for improving the sovereign creditworthiness of borrower states, but its influence over the implementation of formal policy changes is often frustrated by everyday politics. |
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