The conceptual complexity of central bankers and the asian financial crisis

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This paper examines the impact of the conceptual complexity of central bankers on exchange rate volatility during the Asian Financial Crisis of the late 1990s. Theoretically, this paper develops a framework to study the cognitive style of individual central bankers in conjunction with the institutional features of the central banks they head. The paper also controls for a variety of other common explanations for exchange rate volatility during this time period, including the number of veto players representing the political system and underlying structural features of the Asian economies. Empirically, the cross-sectional time-series analysis finds that more conceptually complex central bankers were able to reduce exchange rate volatility during the crisis years, especially when they inhabited highly independent central banks. This paper concludes that linking the study of key individuals to macroeconomic outcomes in the global political economy is a promising area of research.

Original languageEnglish (US)
Pages (from-to)445-464
Number of pages20
JournalPolitical Psychology
Volume30
Issue number3
DOIs
StatePublished - Jun 2009
Externally publishedYes

Fingerprint

Volatilization
central bank
financial crisis
time series analysis
Political Systems
political system
macroeconomics
political economy
economy
Head
Research
Asia
Exchange Rates
Bankers
Financial Crisis
veto player
time

Keywords

  • Asian Financial Crisis
  • Central bank governor
  • Central bank independence
  • Conceptual complexity
  • Exchange rate volatility

ASJC Scopus subject areas

  • Sociology and Political Science
  • Clinical Psychology
  • Experimental and Cognitive Psychology
  • Social Psychology
  • Political Science and International Relations
  • Philosophy

Cite this

The conceptual complexity of central bankers and the asian financial crisis. / Thies, Cameron.

In: Political Psychology, Vol. 30, No. 3, 06.2009, p. 445-464.

Research output: Contribution to journalArticle

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