Book reviews/Governance
Book notes: The doom loop, by Eswar S Prasad
A persuasive analysis of a new world disorder that will bring an end to central bank independence
Book notes: Unexpected revolutionaries: how central banks made and unmade economic orthodoxy, by Manuela Moschella
This book delves into the political science perspective of central banking since the 1970s but lacks nuance and depth
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Book notes: Carbon colonialism: how rich countries export climate breakdown, by Laurie Parsons
Compulsory reading to gain insights into many climate issues that receive insufficient ‘airtime’
Book notes: Balance of power: central banks and the fate of democracies, by Éric Monnet and translated by Steven Rendall
This short book offers partial insights, but ultimately underwhelms
Book notes: Virtuous bankers: a day in the life of the 18th-century Bank of England, by Anne L Murphy
A bottom-up account of how clerks managed operations and enhanced the BoE’s reputation
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
Book notes: The big con, by Mariana Mazzucato and Rosie Collington
The authors highlight that the excessive pursuit of efficiency results in ineffective government agencies
Book notes: Tumultuous times, by Masaaki Shirakawa
A rare and refreshingly honest description of a governorship that spanned a series of crises
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward
Book notes: Central banking before 1800, by Ulrich Bindseil
A new standard reference point for the history of central banking
Book notes: The Japanese central banking system compared with its European and American counterparts, by Yoshiharu Oritani
The book has “no equal” in reviewing new microeconomic theory for central banking
Book notes: Currency, credit and crisis, by Patrick Honohan
Honohan brings an analytical eye to the measures taken to avert a deep crisis in Ireland
Book notes: The third pillar, by Raghuram Rajan
Rajan sets out an ambitious – but deliberately non-radical – manifesto for reform at the local level
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
Book notes: Unelected power, by Paul Tucker
Tucker’s well-argued text sets out a set of principles for those in unelected positions of power to ensure they continue to act for the benefit of the general public, but Reddell says it is a shame more attention is not paid to smaller central banks
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship