There was a "quiet revolution" in central banking during the era of liberalization, which led to the delegation of power to a class of technocrat-guardians who were carefully buffered from direct political control. The credibility of this new central banking regime has been damaged by its...

This book explores the causes and effects of the rise of neoliberalism in Eastern Europe in the aftermath of the collapse of the Soviet Union. It provides a political economy analysis of the role of central banks, and identifies them as a key actor in the production and dissemination of the...