Published online by Cambridge University Press: 09 October 2025
Otto Niemeyer imposed the British model of central banking across the “formal” and “informal” parts of the empire. In the 1930s, he conducted a series of overseas advisory missions, during which he promoted the principles of economic orthodoxy, such as balanced budgets, free trade, and fixed-exchange rates. Through his negotiations, he persuaded foreign governments to accept his policy prescriptions by demonstrating how they aligned with prevailing national interests. While Australia and New Zealand both aimed to secure their financial independence, Brazil and Argentina sought to establish their authority after political revolutions. It was a combination of factors related to state legitimacy, economic stagnation, and interwar expertise that shaped the outcome of the Niemeyer missions.
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