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The Political Economy Of International Capital Mobility
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Book Synopsis The Political Economy of International Capital Mobility by : M. Watson
Download or read book The Political Economy of International Capital Mobility written by M. Watson and published by Springer. This book was released on 2007-07-03 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Matthew Watson draws a distinction between the spatial and the functional mobility of capital, allowing fresh insights into existing work on the subject whilst repoliticizing the very idea of capital being 'in motion'. The dynamics of capital mobility and the patterns of risk exposure are illustrated through four detailed global case studies.
Book Synopsis The Political Economy of Capital Controls by : Gunther G. Schulze
Download or read book The Political Economy of Capital Controls written by Gunther G. Schulze and published by Cambridge University Press. This book was released on 2000-05-04 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive study of capital controls, assesses the existing literature and presents original research.
Book Synopsis A critical analysis of the re-emergence of international capital mobility by : Matthias Baumgarten
Download or read book A critical analysis of the re-emergence of international capital mobility written by Matthias Baumgarten and published by GRIN Verlag. This book was released on 2011-11-23 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Economics - Finance, grade: 1.0 (83 %), University of Warwick (Politics and International Studies), language: English, abstract: From the days of the Bretton Woods Agreements to the beginning of the subprime crisis, the world witnessed an impressive resurrection of global finance and with it the re-emergence of international capital mobility (ICM). But the phenomenon of ICM is a contested issue among commentators. While some almost go as far as denying its existence, the most widespread discourse portrays ICM as a powerful external force, putting pressure on the state to adopt capital-friendly policies and reduce welfare expenditures. This notion of forced competition among states is manifested in the “capital mobility hypothesis”, which draws a parallel between the rise of ICM and its structural power to constrain the state. The following essay argues that this functional connection is not necessarily given, as the mobility of capital is derived from technical, financial and regulatory sources, while its power originates from discursive mechanisms. By looking at historical developments, it is shown that ICM did indeed re-emerge. But a close examination of the constraints it poses on the different categories of the state reveals that the latter retains significant “room to move”. To understand where the premise of the “capital mobility hypothesis” comes from, ICM is analyzed through discursive institutionalism. A number of relevant discourses are examined and it is concluded that the state itself plays a substantial role in creating and maintaining the idea of ICM’s power.
Book Synopsis Structure and Agency in International Capital Mobility by : Kenneth P. Thomas
Download or read book Structure and Agency in International Capital Mobility written by Kenneth P. Thomas and published by Palgrave Macmillan. This book was released on 2001-08-08 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structure and Agency in International Capital Mobility highlights the importance of mobile resources as a feature of globalization, and challenges the received wisdom about the causes and effects of international capital mobility. There seems little doubt that a sea change is taking place as a result of globalization. From a world concerned with strategic weapons and the risks of mutual annihilation, a new world order is emerging in which quite different forces loom large in the communal consciousness. In this order, resources and the jobs and prosperity they produce have - at least in the West - pushed security matters firmly into second place.
Book Synopsis Capitalism, Not Globalism by : William Roberts Clark
Download or read book Capitalism, Not Globalism written by William Roberts Clark and published by University of Michigan Press. This book was released on 2009-12-14 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capitalism, Not Globalism shows that, while much has been made of recent changes in the international economy, the mechanisms by which politicians control the economy have not changed throughout the postwar period. Challenging both traditional and revisionist globalization theorists, William Roberts Clark argues that increased financial integration has led to neither a widening nor a narrowing of partisan differences in macroeconomic polices or outcomes. Rather, he shows that the absence of partisan differences in macroeconomic policy is a long-standing feature of democratic capitalist societies that can be traced to politicians' attempts to use the economy to help them survive in office. Changes in the structural landscape such as increased capital mobility and central bank independence do not necessarily diminish the ability of politicians to control the economy, but they do shape the strategies they use to do so. In a world of highly mobile capital, politicians manipulate monetary policy to create macroeconomic expansions prior to elections only if the exchange rate is flexible and the central bank is subservient. But they use fiscal policy to induce political business cycles when the exchange rate is fixed or the central bank is independent. William Roberts Clark is Assistant Professor, Department of Politics, New York University.
Book Synopsis Monetary Divergence by : David Bearce
Download or read book Monetary Divergence written by David Bearce and published by University of Michigan Press. This book was released on 2009-10-08 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In a meticulously researched study, David Bearce demonstrates that, contrary to predictions, financial globalization has not resulted in a systematic convergence of national monetary policies. The book is a must-read for students of the political economy of international finance. Highlighting the critical role of partisan politics in determining policy outcomes, Bearce adds a new and important dimension to our understanding of the impacts of international capital mobility in the contemporary era." —Benjamin Jerry Cohen, University of California, Santa Barbara "Bearce offers a compelling analysis of partisan economic policy in an open economy. By analyzing both fiscal and monetary policies, Bearce extends our understanding of how the electoral imperative conditions policy behavior. His conclusions will have to be addressed in any future debate about the topic." —William Bernhard, University of Illinois at Urbana-Champaign "Interest group divisions over exchange rates and macroeconomic policy have been at the center of international political economy research for about 20 years. Political scientists have studied these cleavages, focusing on the policy interests of various industry groups. On a separate but parallel track, another group of researchers explored the relationship between partisan politics and macroeconomic policy choices. In this exceptionally well researched book, Bearce integrates these two analytical traditions. Noting that industry groups are typically important organized constituents in left-wing and right-wing political parties, Bearce demonstrates how macroeconomic policy outcomes in advanced countries vary systematically with the alternation of political parties in government." —J. Lawrence Broz, University of California, San Diego David H. Bearce is Assistant Professor of Political Science at the University of Pittsburgh.
Book Synopsis Mobile Capital and Latin American Development by : James E. Mahon
Download or read book Mobile Capital and Latin American Development written by James E. Mahon and published by Penn State Press. This book was released on 2010-11-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Particularly timely in light of the recent Mexican peso crisis, Mobile Capital and Latin American Development examines the causes, consequences, and implications of the Latin American capital flight of the 1980s. It addresses the increasingly mobile and privatized nature of international capital and its power to shape economic policy in those countries. Through a comparison of the policy experiences of Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela, James E. Mahon finds that those countries that suffered the most capital flight had previously faced fewer structural trade problems and had not reoriented their exchange policies to diversify exports and deal with exchange-market instability. Since the countries that stumbled worst into capital flight before the debt crisis were later among the most aggressive neoliberal reformers, Mahon discusses the ways in which overseas capital served as a kind of pressure for free-market reform. Finally, the idea that internationally mobile capital now can operate as a kind of senate--an arm of the wealthy few, guarding the established order against the arbitrary, dangerous tendencies of the executive and popular chamber--is examined with relation to theories of dependency and the institutionalization of democracy.
Book Synopsis Long-Term International Capital Movements and Technology by : Mr.Harm Zebregs
Download or read book Long-Term International Capital Movements and Technology written by Mr.Harm Zebregs and published by International Monetary Fund. This book was released on 1999-09-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical literature on the question of how long-term international capital movements depend on the international distribution of technology. It focuses on long-term investment flows, as these are more affected by international differences in technologies than short-term financial flows. International capital movements are investigated in the context of various technology specifications, ranging from models with only one common technology to those with multiple and endogenous technologies. The paper demonstrates that the theoretical specification of technology is crucial to the prediction of the size and direction of international capital movements.
Book Synopsis The Role of Central Bank Independence in a World of Capital Mobility by : Matthias Baumgarten
Download or read book The Role of Central Bank Independence in a World of Capital Mobility written by Matthias Baumgarten and published by GRIN Verlag. This book was released on 2012-02 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2011 in the subject Economics - Finance, grade: 1,0 (80%), University of Warwick (Politics and International Studies), course: Politics of Global Finance, language: English, abstract: Historical developments during recent economic history have demonstrated a remarkably parallel development of international capital mobility (ICM) and central bank independence (CBI), making both fundamental factors of today's monetary system. Neoliberal economic models depict the anti-inflationary credibility associated with CBI as the outcome of strict market rules, insulating policy from political control. The structural power of mobile capital subsequently forced governments to adopt it as policy. However, the theoretical assumptions underlying these arguments misrepresent current realities and obscure the fact that credibility is a social phenomenon. Looking at CBI as a social institution shows that it facilitates a consensus between current political and market interests. For financial market actors, CBI functions as a guide for their intersubjective expectations and ensures the continuity of the current economic order with the financial markets at its centre. Governments consciously support the embedding of society within these markets, while shielding themselves from the reputational costs of adverse market outcomes. Within this consensus, substantial indirect state control over policy decisions remains. Consequently, CBI's central importance does not lie in anti-inflationary credibility derived from the removal of political control, but in its institutional role as a link between political and market interests in contemporary financial governance.
Book Synopsis Analyzing the Global Political Economy by : Andrew Walter
Download or read book Analyzing the Global Political Economy written by Andrew Walter and published by Princeton University Press. This book was released on 2008-12-08 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ideally suited to upper-undergraduate and graduate students, Analyzing the Global Political Economy critically assesses the convergence between IPE, comparative political economy, and economics. Andrew Walter and Gautam Sen show that a careful engagement with economics is essential for understanding both contemporary IPE and for analyzing the global political economy. The authors also argue that the deployment of more advanced economic theories should not detract from the continuing importance for IPE of key concepts from political science and international relations. IPE students with little or no background in economics will therefore find this book useful, and economics students interested in political economy will be alerted to the comparative strengths of political science and other social science disciplines. A concise look at the foundations of analysis in the political economy of global trade, money, finance, and investment Suitable for upper-undergraduate and graduate students with some or no economic background Techniques and findings from a range of academic disciplines, including international relations, political science, economics, sociology, and history Further reading and useful weblinks including a range of relevant data sources, listed in each chapter
Book Synopsis The Political Economy of Globalization by : Satya Dev Gupta
Download or read book The Political Economy of Globalization written by Satya Dev Gupta and published by Springer Science & Business Media. This book was released on 1997-04-30 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization is transforming the world at an accelerated pace. Integration of the world continues, widening and intensifying international linkages in economic, political and social relations. Liberalization of trade and fmance, lubricated by revolutionary changes in information technology, has resulted in significant economic growth at the global level. On the other hand, the process of globalization is changing the nature of production relations, threatening the traditional roles of the nation-state, and carrying with it far-reaching implications for sustainable growth, development and the environment. Although both developed and developing countries are actively participating in this saga of globalization, nearly ninety countries, as the United Nations' Human Development Report, 1996 indicates, are worse off economically than they were ten years ago, leading to "global polarization" between haves and have nots. The report further indicates that the gap between the per capita incomes of the industrialized world and the developing countries, far from narrowing, has more than tripled during the last thirty years. Further, a majority of the countries benefitting from this globalization drive have seen a rise in inequality and poverty. This failure of market driven globalization to reward the benefits equitably led the United Nations to proclaim 1996 as the International Year for the Eradication of Poverty (IYEP) and the decade of 1997-2006 as the international decade for the eradication of poverty, and to promote "people-centered sustainable development".
Book Synopsis Who Elected the Bankers? by : Louis W. Pauly
Download or read book Who Elected the Bankers? written by Louis W. Pauly and published by Cornell University Press. This book was released on 1997 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ch. 1. Global Markets and National Politics -- Ch. 2. The Political Economy of International Capital Mobility -- Ch. 3. The League of Nations and the Roots of Multilateral Oversight -- Ch. 4. The Transformation of Economic Oversight in the League -- Ch. 5. Global Aspirations and the Early International Monetary Fund -- Ch. 6. The Reinvention of Multilateral Economic Surveillance -- Ch. 7. The Political Foundations of Global Markets.
Book Synopsis The Enigma of Globalization by : Robert Went
Download or read book The Enigma of Globalization written by Robert Went and published by Routledge. This book was released on 2002-08-29 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization is theorized in this book as an emerging new stage of capitalism. Robert Went takes us on a journey from the historical roots of globalization through to its relevance in the modern day. The Enigma of Globalization is a timely addition to an important debate and covers such themes as: * International trade * Free trade and international movement of capital * The role of the world economy This accessible and intriguing book is a must, not only for students and academics working in the field, but will also prove an interesting read for all those with a general interest in the modern global political economy.
Download or read book Money Rules written by Henry Laurence and published by Cornell University Press. This book was released on 2001 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Henry Laurence traces financial market reform in Britain and Japan over the last two decades, charting the movement of the Anglo-Saxon and Japanese styles of capitalism toward a new, hybrid form of economic organization. He explains what these two stories reveal about changes in the nature of business-government relations in an age of convergence.The package of reforms known in Britain as the "Big Bang" and in Japan as "Biggu Bangu" decontrolled prices, liberalized the number and nature of financial instruments that could be traded, opened both countries' markets to foreigners, and introduced a much greater degree of competition than would have been believed possible twenty years earlier. At the same time, Britain and Japan have undertaken stringent measures to improve the transparency and fairness of their markets.Why did two countries with traditionally very different regulatory styles adopt such strikingly similar reforms, and why did these reforms result in a mixture of deregulation in some areas and tighter control in others? In explaining these apparent contradictions, Laurence invokes the powerful domestic political impact of international capital mobility.Money Rules challenges the view that bureaucracy is the most powerful actor in the policymaking process. Using extensive interviews with more than one hundred policymakers and financial professionals in both countries, the author rebuts conventional wisdom. He argues that the events in Britain and Japan demonstrate striking crossnational convergence of political and economic institutions.
Book Synopsis Issues and Agents in International Political Economy by : Benjamin J. Cohen
Download or read book Issues and Agents in International Political Economy written by Benjamin J. Cohen and published by MIT Press. This book was released on 1999 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second of two anthologies on international political economy drawn from articles published in the journal International Organization. The book is organized into four sections: Trade, Multinational Firms and Globalization, Money and Finance, and Emerging Issues.
Book Synopsis The Belt Road and Beyond by : Min Ye
Download or read book The Belt Road and Beyond written by Min Ye and published by Cambridge University Press. This book was released on 2020-03-05 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This investigation uses state-mobilized globalization as a framework to understand China's capitalism and emergence as a global power.
Book Synopsis Curbing The Boom-Bust Cycle by : John Williamson
Download or read book Curbing The Boom-Bust Cycle written by John Williamson and published by Columbia University Press. This book was released on 2005-07-30 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: International investors poured vast sums of money into East Asian and Latin American countries during the mid-1990s, when the emerging market boom was at its peak. Then Thailand stumbled and panic seized the markets, and boom gave way to bust. Investors suffered large financial losses, while Asian countries suddenly experienced large capital outflows and the macroeconomic pressures these wrought plunged countries that had been growing rapidly ("miraculously") into crisis. Much the same had happened in Latin America when the debt crisis broke in 1982. This book investigates what can be done to make the international capital market a constructive force in promoting development in emerging markets. John Williamson concludes that the problem of cyclicality that has undermined the value of international borrowing cannot be tackled just, or even mainly, from the supply side, but will require actions on the part of both creditors and debtors.
