Financial Liberalization and the Reconstruction of State-market RelationsTaylor & Francis, 1998 - 223 pages In this study; the author;hopes to add to the literature concerning the;distributional consequences of financial integration by focusing on the rise of non-state actors within a transformed international system. In it, he argues that structural change brought on by transnational production and post-industrialization has created space for non-state actors to acquire autonomy from sovereign entities. While finance is by no means the only specialized sector to achieve autonomy, it has perhaps the most immediate impact on the ability of governments to pursue policy.;; First published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.;; |
Contents
INTRODUCTION | 3 |
Hegemonic Stability Arguments of the International Financial | 9 |
Information Technology and Financial Integration | 16 |
Chapter Preview and Review | 22 |
IMPLICATIONS OF A NEW FINANCIAL ORDER | 33 |
The Bretton Woods Conference | 79 |
The Rise of the Eurocurrency Markets | 90 |
Bretton Woods Reassessed | 96 |
The Limits of Policy Autonomy Under Competing Regimes | 122 |
Unholy Trinities and the Price of Independence | 131 |
A Symbiotic Relationship | 138 |
Terms of the Deal | 148 |
Finances New Deal | 159 |
Parameter Shifts | 167 |
Bringing Politics Back | 180 |
NATIONAL ECONOMIC POLICYMAKING IN AN ERA | 103 |
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Common terms and phrases
actions advanced industrial American borrowers Bretton Woods Britain capital controls capital flows capital interests capital markets capital mobility capital movements central banks changes competition constraints coordination costs countries current account deficit deregulation dollar dominant economic policy effect Eurocurrency Eurocurrency markets Eurodollar explain external currency markets finance capital financial asset-holders financial assets financial liberalization financial market operators financial order financial system fiscal fixed exchange rates flexible exchange rates foreign foreign exchange markets global gold standard governments growth hegemonic Helleiner increase increasingly inflation interaction interest rates international capital international economic international financial integration investment investors Keynesian liberal international macroeconomic macroeconomic policies monetary policy money supply national policymakers neoliberal non-state actors official outcomes percent policy autonomy political economy political risk postwar preferences production rational expectations reduce regulation regulatory reform restrictions role sector shift stability strategies structural trade transactions transnational U.S. dollar United world economy