Publisher's Synopsis
In this volume of essays, leading European bankers and banking historians give their assessment of the evolution of central banking in twentieth-century Europe. The volume is based on papers delivered to the 2001 conference International Banking and Financial Systems, organised in Rome by the Banca di Roma's The Journal of European Economic History, in agreement with the Banca d'Italia's Historical Research Office. The essays evaluate the role played by the central banks in promoting growth and monetary stability in their respective countries and compare the progress achieved in the techniques of monetary management and intervention. They also trace the divergent models and policy paths followed by the financial systems of various countries. In the creation of the institutes of issue and in their transformation into central banks, in the powers they were granted by governments and in their relationships with their respective monetary and economic systems, the differences were neither few nor insubstantial. They reflected the reality of a continent of diverse historical traditions and different levels and features of economic development. - - As well as providing a historical perspective, a number of contributions explore how the lessons of the twentieth century may be brought to bear on current and future trends in central banking. In so doing, this volume provides a fascinating insight into the ways in which economic stability and growth has been, and can be, promoted.