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Demanding Devaluation

Author: David Steinberg
Publisher: Cornell University Press
ISBN: 0801454255
Size: 12.26 MB
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In Demanding Devaluation, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate.

Politics And Foreign Direct Investment

Author: Nathan Jensen
Publisher: University of Michigan Press
ISBN: 0472028375
Size: 45.61 MB
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For decades, free trade was advocated as the vehicle for peace, prosperity, and democracy in an increasingly globalized market. More recently, the proliferation of foreign direct investment has raised questions about its impact upon local economies and politics. Here, seven scholars bring together their wide-ranging expertise to investigate the factors that determine the attractiveness of a locale to investors and the extent of their political power. Multinational corporations prefer to invest where legal and political institutions support the rule of law, protections for property rights, and democratic processes. Corporate influence on local institutions, in turn, depends upon the relative power of other players and the types of policies at issue.

The Future Of The Dollar

Author: Eric Helleiner
Publisher: Cornell University Press
ISBN: 0801457491
Size: 29.52 MB
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For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy. What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and it outlines a variety of future scenarios and the possible political implications for the United States and the world.

China S Financial Opening

Author: Yu Wai Vic Li
Publisher: Routledge
ISBN: 135175016X
Size: 22.74 MB
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The twenty-first century has not only seen China become one of the world’s largest trading nations, but also its gradual integration into the global financial system. Chinese-sponsored project financing schemes, such as the Belt-and-Road Initiative and the Asian Infrastructure Investment Bank, and the expanding international footprint of the renminbi, have raised the specter of Beijing shaping established market rules and practices with its financial firepower. These dramatic developments beyond the "Great Wall of Money" have overshadowed the equally remarkable opening of China’s domestic capital markets. These include initiatives that make cross-border equity trade and investment easier; attempts to internationalize exclusively domestic-oriented equity markets; and creation of the first offshore renminbi hub in Hong Kong, paving the way for the "big bang" of renminbi use worldwide. Li interrogates the domestic political dynamics underlying the dizzying switches between liberalization and restriction. This book argues that the interplay between the pro-opening coalitions and dissenting parties has been central to the policymaking process. Financial opening has not only been driven by central bureaucratic actors, but also by financial industry interests and the local authorities of financial centers acting in concert as coalitions. The local and financial constituents have shaped policy agendas and priorities, and defined and framed liberalizing initiatives in ways that appealed to bureaucratic entities. They also sought wider political support by capitalizing on connections with top decision-making elites. To allay opposition and maintain political and technical consensus, the coalition constituents have offered concessions to dissenting parties over implementation specifics. This, however, has not always succeeded. Dissenting parties who recognized adverse distributional and policy risk implications inherent in the opening initiatives might decline concessionary offers, leading to policy tendencies other than opening. As one of the very first political economy contributions to studies of China’s financial opening from the 2000s, this book will appeal to researchers of international political economy, East Asia and China specialists, and financial practitioners and policymakers wanting to make sense of the country’s liberalizing logic.

Regulating Capital

Author: David Andrew Singer
Publisher: Cornell University Press
ISBN: 1501702297
Size: 66.34 MB
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Financial instability threatens the global economy. The volatility of capital movements across national borders has led many observers to argue for a reformed "global financial architecture," a body of consistent rules and institutions to prevent financial crises. Yet regulators have a decidedly mixed record in their attempts to create global standards for the financial system. David Andrew Singer seeks to explain the varying pressures on regulatory agencies to negotiate internationally acceptable rules and suggests that the variation is largely traceable to the different domestic political pressures faced by regulators. In Regulating Capital, Singer provides both a theory of the effects of domestic pressures on international regulation and a detailed analysis of regulators' attempts at international rulemaking in banking, securities, and insurance. Singer addresses the complexities of global finance in an accessible style, and he does not turn away from the more dramatic aspects of globalization; he makes clear the international implications of bank failures and stock-market crashes, the rise of derivatives, and the catastrophic financial losses caused by Hurricane Katrina and the events of September 11.

Designing Industrial Policy In Latin America Business State Relations And The New Developmentalism

Author: B. Schneider
Publisher: Springer
ISBN: 1137524847
Size: 31.74 MB
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Development economists and practitioners agree that close collaboration between business and government improves industrial policy, yet little research exists on how best to organize that. This book examines three necessary functions–-information exchange, authoritative allocation, and reducing rent seeking–-across experiences in Latin America.

Analyzing The Global Political Economy

Author: Andrew Walter
Publisher: Princeton University Press
ISBN: 9781400837809
Size: 77.50 MB
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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

Globalizing Capital

Author: Barry Eichengreen
Publisher: Princeton University Press
ISBN: 9781400828814
Size: 48.49 MB
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First published more than a decade ago, Globalizing Capital remains an indispensable part of the economic literature today. Written by renowned economist Barry Eichengreen, this classic book emphasizes the importance of the international monetary system for understanding the international economy. Brief and lucid, Globalizing Capital is intended not only for economists, but also a general audience of historians, political scientists, professionals in government and business, and anyone with a broad interest in international relations. Eichengreen demonstrates that the international monetary system can be understood and effectively governed only if it is seen as a historical phenomenon extending from the period of the gold standard to today's world of fluctuating prices. This updated edition continues to document the effect of floating exchange rates and contains a new chapter on the Asian financial crisis, the advent of the euro, the future of the dollar, and related topics. Globalizing Capital shows how these and other recent developments can be put in perspective only once their political and historical contexts are understood.

Networks Of Rebellion

Author: Paul Staniland
Publisher: Cornell University Press
ISBN: 0801471028
Size: 15.85 MB
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The organizational cohesion of insurgent groups is central to explaining patterns of violence, the effectiveness of counterinsurgency, and civil war outcomes. Cohesive insurgent groups produce more effective war-fighting forces and are more credible negotiators; organizational cohesion shapes both the duration of wars and their ultimate resolution. In Networks of Rebellion, Paul Staniland explains why insurgent leaders differ so radically in their ability to build strong organizations and why the cohesion of armed groups changes over time during conflicts. He outlines a new way of thinking about the sources and structure of insurgent groups, distinguishing among integrated, vanguard, parochial, and fragmented groups. Staniland compares insurgent groups, their differing social bases, and how the nature of the coalitions and networks within which these armed groups were built has determined their discipline and internal control. He examines insurgent groups in Afghanistan, 1975 to the present day, Kashmir (1988–2003), Sri Lanka from the 1970s to the defeat of the Tamil Tigers in 2009, and several communist uprisings in Southeast Asia during the Cold War. The initial organization of an insurgent group depends on the position of its leaders in prewar political networks. These social bases shape what leaders can and cannot do when they build a new insurgent group. Counterinsurgency, insurgent strategy, and international intervention can cause organizational change. During war, insurgent groups are embedded in social ties that determine they how they organize, fight, and negotiate; as these ties shift, organizational structure changes as well.