@article{1479196,
      recid = {1479196},
      author = {Bell, Stephen, },
      title = {The Rise of the People's Bank of China : The Politics of  Institutional Change /},
      pages = {1 online resource (384 p.) :},
      abstract = {With $4.5 trillion in total assets, the People's Bank of  China now surpasses the U.S. Federal Reserve as the world's  biggest central bank. The Rise of the People's Bank of  China investigates how this increasingly authoritative  institution grew from a Leninist party-state that once  jealously guarded control of banking and macroeconomic  policy. Relying on interviews with key players, this book  is the first comprehensive and up-to-date account of the  evolution of the central banking and monetary policy system  in reform China. Stephen Bell and Hui Feng trace the bank's  ascent to Beijing's policy circle, and explore the  political and institutional dynamics behind its rise. In  the early 1990s, the PBC-benefitting from political  patronage and perceptions of its unique professional  competency-found itself positioned to help steer the  Chinese economy toward a more liberal, market-oriented  system. Over the following decades, the PBC has assumed a  prominent role in policy deliberations and financial  reforms, such as fighting inflation, relaxing China's  exchange rate regime, managing reserves, reforming banking,  and internationalizing the renminbi. Today, the People's  Bank of China confronts significant challenges in  controlling inflation on the back of runaway growth, but it  has established a strong track record in setting policy for  both domestic reform and integration into the global  economy.},
      url = {http://library.usi.edu/record/1479196},
      doi = {https://doi.org/10.4159/harvard.9780674073593},
}