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Evolution of Central Banking?

The book analyses the establishment of De Nederlandsche Bank and its early development as a case study to test competing theories on the historical development of central banking. It is shown that the establishment of DNB can be explained by both the fiscal theory and the financial stability theory. Later development makes clear that the financial stability role of DNB prevailed. DNB´s bank notes were not forced onto the public and competition was fierce. A prudent and independent stance was necessary to be able to play its intended role. This meant that DNB played a modest role in the Amsterdam money market until 1852. By 1852 it had established itself to become the central bank. By then its bank notes had become generally accepted and it could start to operate as a reserve bank. Also the market context had changed dramatically, its competitors had been driven out of the market and several credit institutions had become customers of DNB.

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Detail Information
Series Title
-
Call Number
332
Publisher
Cambridge : Springer Cham.,
Collation
Banking
Language
English
ISBN/ISSN
978-3-319-10617-5
Classification
NONE
Content Type
text
Media Type
computer
Carrier Type
online resource
Edition
1
Subject(s)
Economic Policy
Public Administration
Specific Detail Info
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Statement of Responsibility
Other Information
Cataloger
Suwardi
Source
https://link.springer.com/book/10.1007/978-3-319-10617-5
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