Central Banks in Organizational Networks: Entangled Market Actors

This book explores the social processes of decision-making at the interface of central banks and financial market participants, challenging assumptions on how central banking works and assessing unconventional monetary policy. It offers an in-depth look into the financial market practices around the quantitative easing programmes of the European Central Bank and focuses on the uneasy role of modern central banks as active market participants. The author develops a novel method to study organisational networks in the context of financial markets and sketches an analysis of the European Central Banks social, organisational and financial networks. The book is a valuable resource for social scientists researching organisations in financial markets, providing theory, concepts, empirical data and practical implications.

Format: Paperback / softback
Length: 178 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

This comprehensive and interdisciplinary study delves into the intricate social dynamics of decision-making at the crossroads of central banks and financial market participants, thereby shedding light on crucial issues related to responsible central bank governance and its responsibilities to society as a whole. The book challenges prevailing notions about the functioning of central banking and critically evaluates unconventional monetary policies and their theoretical underpinnings. Through extensive fieldwork and data collection across multiple sites, this research monograph provides a deep exploration into the financial market practices surrounding the quantitative easing programs implemented by the European Central Bank. It specifically focuses on the uneasy role of modern central banks as active market participants.

The author introduces concepts from social network theory and develops a novel methodology to study organizational networks within the context of financial markets. A comprehensive analysis of the European Central Banks social, organizational, and financial networks is presented across several chapters. The concluding chapters delve into documentary analysis and the extensive qualitative interviews with senior investment professionals, shedding light on the strategies and adaptive processes associated with the lived experience of quantitative easing.

Recognized with the prestigious Philip Abrams Memorial Prize by the British Sociological Association, this book serves as a vital resource for social scientists engaged in research on organizations in financial markets. It offers a rich theoretical framework, insightful concepts, empirical data, and practical implications. This book appeals to a wide audience, including academics and graduate students in economics, sociology, and management/organization studies, as well as practitioners at central banks and in asset management.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032078830