In recent years, Israel has deeply and quickly transformed from a self-perceived social-democratic regime into a privatized and liberalized "Start-Up Nation" and a highly divided society. This transition to neoliberalism has been coupled with the adoption of a hawkish and isolationist foreign...

In recent decades, neo-mercantilism has become ubiquitous among small and large states. The conventional explanation for the appeal of an export-led growth regime has focused on the material interests of domestic growth coalitions. This article offers an alternative explanation for transition to...

During the 20th century, the institution called central bank was diffused globally. However, central banking practices differed significantly between European market-based economies and developing economies. This paper traces the ideas and norms that shaped and legitimized central banking...

The history of the Bank of Israel is often told as a story that leads from servitude to independence. According to this conception, the bank was as a weak and marginal institution during the developmental period of the state, and it turned into an independent actor in the neoliberal period. In...

During the 1990s, a consensus consolidated among policy makers and economists worldwide regarding the desirability of very low inflation targeting. So far, this process has been explained on the basis of a domestic-functional thesis, according to which commitment to very low inflation provides...