The Bank of Canada of James Elliot Coyne: Challenges, Confrontation, and Change by James PowellThe Bank of Canada of James Elliot Coyne: Challenges, Confrontation, and Change by James Powell

The Bank of Canada of James Elliot Coyne: Challenges, Confrontation, and Change

byJames Powell

Hardcover | September 23, 2009

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Nowhere is this difficulty better exemplified than in the turbulent relationship between the Bank of Canada of James Coyne and the Conservative government of John Diefenbaker. In The Bank of Canada of James Elliot Coyne, James Powell examines the views of Canada's most controversial central bank governor and assesses the central bank's clashes with the government, Canadian economists, and financial institutions that culminated in the "Coyne Affair" and Coyne's resignation in 1961. The author also examines the impact of the Coyne years on the Bank of Canada as an institution.

Powell argues that the dispute between the Bank and the Diefenbaker government was not over monetary policy, as widely believed, but rather over Coyne's outspoken criticism of the government's economic policy. Coyne's term as governor marked an important stage in the development of the Bank of Canada as a modern central bank, one that is independent, transparent, and accountable.
James Powell is a retired senior Canadian central banker, and the author of A History of the Canadian Dollar.
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Title:The Bank of Canada of James Elliot Coyne: Challenges, Confrontation, and ChangeFormat:HardcoverDimensions:200 pages, 9 × 6 × 0.8 inPublished:September 23, 2009Publisher:McGill-Queen's University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0773535993

ISBN - 13:9780773535992

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Reviews

Editorial Reviews

"The Coyne years represent an important, yet not well documented, chapter in the history and evolution of the Bank of Canada. James Powell has produced a balanced, scholarly book, looking at the years James Coyne was Governor of the Bank of Canada through the prism of how we think about central banking today - the importance of clarity of objective, monetary policy as an active demand management tool, and the importance of transparency and accountability. It will have broad appeal to those wishing to understand the role of the Bank of Canada in the affairs of the country and the tensions that can exist between central bank independence and ultimate government responsibility for public policy." Paul Jenkins, Bank of Canada