Alex J. Bellamy (ed.)
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199265206
- eISBN:
- 9780191601866
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199265208.001.0001
- Subject:
- Political Science, International Relations and Politics
This book is a major new evaluation of the contribution of the influential English School to international relations theory. It focuses on all the key contemporary and international political issues, ...
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This book is a major new evaluation of the contribution of the influential English School to international relations theory. It focuses on all the key contemporary and international political issues, and contains a mixture of theoretical and empirical issues, presented by leading scholars in the field. In recent years, the English School of International Relations – or international society – approach to international relations has become prominent because its theories and concepts seem to be able to help explain some of the most complex and seemingly paradoxical features of contemporary world politics. In doing this, the approach has attracted a variety of criticisms from both ends of the political spectrum, with some arguing that the claim that states form an international society is premature in an era of terror where power politics and the use of force have returned to the fore, and others insisting that the state‐centrism of international society makes it an inherently conservative approach that is unable to address many of the world's most pressing problems. The book provides the first in‐depth study of the English School approach to international relations from a variety of different theoretical and practical perspectives. Sixteen scholars from three continents critically evaluate the contribution of the School to the study of international theory and world history, consider its relationship with a variety of alternative perspectives, including international political economy, feminism, environmentalism, and critical security studies, and assess how the approach can help to make sense of the big issues of the day such as terrorism, the management of cultural difference, global governance, the ethics of coercion, and the role of international law. The contributors find that whilst the concept of international society helps to shed light on many of the important tensions in world politics, much work still needs to be done. In particular, the approach needs to broaden its empirical scope to incorporate more of the issues and actors that shape global politics, draw upon other theoretical traditions to improve its explanations of change in world politics, and recognize the complex and multi‐layered nature of the contemporary world. After an introduction by the editor, the book is arranged in three parts: One, The English School's Contribution to International Relations (four chapters); Two, Critical Engagements with International Society (six chapters); and Three, International Society After September 11 (five chapters). There is also a Conclusion by the editor.Less
This book is a major new evaluation of the contribution of the influential English School to international relations theory. It focuses on all the key contemporary and international political issues, and contains a mixture of theoretical and empirical issues, presented by leading scholars in the field. In recent years, the English School of International Relations – or international society – approach to international relations has become prominent because its theories and concepts seem to be able to help explain some of the most complex and seemingly paradoxical features of contemporary world politics. In doing this, the approach has attracted a variety of criticisms from both ends of the political spectrum, with some arguing that the claim that states form an international society is premature in an era of terror where power politics and the use of force have returned to the fore, and others insisting that the state‐centrism of international society makes it an inherently conservative approach that is unable to address many of the world's most pressing problems. The book provides the first in‐depth study of the English School approach to international relations from a variety of different theoretical and practical perspectives. Sixteen scholars from three continents critically evaluate the contribution of the School to the study of international theory and world history, consider its relationship with a variety of alternative perspectives, including international political economy, feminism, environmentalism, and critical security studies, and assess how the approach can help to make sense of the big issues of the day such as terrorism, the management of cultural difference, global governance, the ethics of coercion, and the role of international law. The contributors find that whilst the concept of international society helps to shed light on many of the important tensions in world politics, much work still needs to be done. In particular, the approach needs to broaden its empirical scope to incorporate more of the issues and actors that shape global politics, draw upon other theoretical traditions to improve its explanations of change in world politics, and recognize the complex and multi‐layered nature of the contemporary world. After an introduction by the editor, the book is arranged in three parts: One, The English School's Contribution to International Relations (four chapters); Two, Critical Engagements with International Society (six chapters); and Three, International Society After September 11 (five chapters). There is also a Conclusion by the editor.
Barry Buzan
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199265206
- eISBN:
- 9780191601866
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199265208.003.0007
- Subject:
- Political Science, International Relations and Politics
Deals with arguably the most pointed omission from the thinking of the English School of International Relations – international political economy (IPE) – a failure has had serious and negative ...
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Deals with arguably the most pointed omission from the thinking of the English School of International Relations – international political economy (IPE) – a failure has had serious and negative consequences for how the understanding of international society has developed, and has also had the consequence that the English School has so far not exploited its considerable potential to act as the theoretical framework through which globalization can be analyzed. The author holds that nothing stands in the way of bringing IPE into the international society tradition, and that much is to be gained by doing so. In the first section of the chapter, he begins his account by identifying and then accounting for this omission, arguing that it is both unnecessary and unjustified; he places the economic sector within English School thinking, looks at what has been said about it, and examines why it has been neglected. In the second section, the consequences of the neglect of the economic sector are explored for the debate about pluralism and solidarism. In the third section, regions and institutions are examined as ways of bringing IPE and the English School together, and in the final section, it is argued that this combination holds the key to a more effective study of globalization.Less
Deals with arguably the most pointed omission from the thinking of the English School of International Relations – international political economy (IPE) – a failure has had serious and negative consequences for how the understanding of international society has developed, and has also had the consequence that the English School has so far not exploited its considerable potential to act as the theoretical framework through which globalization can be analyzed. The author holds that nothing stands in the way of bringing IPE into the international society tradition, and that much is to be gained by doing so. In the first section of the chapter, he begins his account by identifying and then accounting for this omission, arguing that it is both unnecessary and unjustified; he places the economic sector within English School thinking, looks at what has been said about it, and examines why it has been neglected. In the second section, the consequences of the neglect of the economic sector are explored for the debate about pluralism and solidarism. In the third section, regions and institutions are examined as ways of bringing IPE and the English School together, and in the final section, it is argued that this combination holds the key to a more effective study of globalization.
David McKay
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198296775
- eISBN:
- 9780191685279
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198296775.001.0001
- Subject:
- Political Science, European Union
This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of ...
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This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of the international economy. Although the precise motives of the participants varied from country to country, all were agreed that only federal-like political and economic arrangements would provide a guarantee of economic and political stability. The book provides a coherent theoretical framework for understanding the decisions taken at Maastricht and later. By making comparisons with other federations, the book also examines the political and economic conditions under which federations succeed or fail. It concludes that EMU will only be politically sustainable if novel ways are found to limit centrally imposed fiscal and spending policies.Less
This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of the international economy. Although the precise motives of the participants varied from country to country, all were agreed that only federal-like political and economic arrangements would provide a guarantee of economic and political stability. The book provides a coherent theoretical framework for understanding the decisions taken at Maastricht and later. By making comparisons with other federations, the book also examines the political and economic conditions under which federations succeed or fail. It concludes that EMU will only be politically sustainable if novel ways are found to limit centrally imposed fiscal and spending policies.
Herman Schwartz
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780198297567
- eISBN:
- 9780191600104
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198297564.003.0002
- Subject:
- Political Science, Comparative Politics
The first of three chapters on the sources of pressure on contemporary national welfare states, all of which seek to show how examining the sources of strain carries implications for identifying who ...
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The first of three chapters on the sources of pressure on contemporary national welfare states, all of which seek to show how examining the sources of strain carries implications for identifying who is likely to fight with whom over what; the authors of the three chapters are not of one mind on this issue. Schwartz, for whom social protection includes regulatory arrangements in sectors such as telecommunications and transportation, is most convinced that some aspects of globalization do play a critical role, and he reviews a series of broad claims about the sources of pressure on the welfare state, arguing that the impact of globalization is often misconstrued. He distinguishes alternative possible causal connections between changes in the international economy and welfare state distress, and, in many cases, finds little evidence for these causal pathways, or evidence that only supports an assessment of modest impact. He argues, however, that one dimension of globalization has been crucial: a wave of deregulatory pressures emanating from changes in the US political economy, which has led to a dramatic erosion of forms of protected employment in the affected sectors of other countries.Less
The first of three chapters on the sources of pressure on contemporary national welfare states, all of which seek to show how examining the sources of strain carries implications for identifying who is likely to fight with whom over what; the authors of the three chapters are not of one mind on this issue. Schwartz, for whom social protection includes regulatory arrangements in sectors such as telecommunications and transportation, is most convinced that some aspects of globalization do play a critical role, and he reviews a series of broad claims about the sources of pressure on the welfare state, arguing that the impact of globalization is often misconstrued. He distinguishes alternative possible causal connections between changes in the international economy and welfare state distress, and, in many cases, finds little evidence for these causal pathways, or evidence that only supports an assessment of modest impact. He argues, however, that one dimension of globalization has been crucial: a wave of deregulatory pressures emanating from changes in the US political economy, which has led to a dramatic erosion of forms of protected employment in the affected sectors of other countries.
Kaoru Sugihara
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780198292715
- eISBN:
- 9780191602580
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198292715.003.0001
- Subject:
- Economics and Finance, South and East Asia
This chapter begins with a discussion of modern Asian economic history. It covers the growth of the Asian international economy, contributions of the West, and critical issues from the 1930s onwards. ...
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This chapter begins with a discussion of modern Asian economic history. It covers the growth of the Asian international economy, contributions of the West, and critical issues from the 1930s onwards. An overview of the chapters in this volume is presented.Less
This chapter begins with a discussion of modern Asian economic history. It covers the growth of the Asian international economy, contributions of the West, and critical issues from the 1930s onwards. An overview of the chapters in this volume is presented.
John H. Dunning
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198296041
- eISBN:
- 9780191596070
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198296045.003.0013
- Subject:
- Economics and Finance, Microeconomics
Presents a further analysis of globalization in relation to technological change. The author takes issue with the all‐too‐persistent notions that only locationally immobile assets and arm's‐length ...
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Presents a further analysis of globalization in relation to technological change. The author takes issue with the all‐too‐persistent notions that only locationally immobile assets and arm's‐length transactions determine the international division of labour and competitive advantages of firms and nations, preferring to stress the important roles of created assets (including how they are created and deployed) and of multinational enterprises in the international economy. The historical roots of inadequate explanations are traced before addressing more recent developments in the theory of spatial specialization of economic activity. The role of firms in coordinating activities and in governing transactions is explored in some depth, and the place of government in this scheme of things is introduced. None of the main modalities of organizing economic activity (markets, hierarchies, inter‐firm alliances and governments) is argued to escape the profound effects of globalization, and from largely having been regarded as alternatives, it is suggested that it is now more realistic to view these modalities as having complementary roles in the organization of resources and capabilities.Less
Presents a further analysis of globalization in relation to technological change. The author takes issue with the all‐too‐persistent notions that only locationally immobile assets and arm's‐length transactions determine the international division of labour and competitive advantages of firms and nations, preferring to stress the important roles of created assets (including how they are created and deployed) and of multinational enterprises in the international economy. The historical roots of inadequate explanations are traced before addressing more recent developments in the theory of spatial specialization of economic activity. The role of firms in coordinating activities and in governing transactions is explored in some depth, and the place of government in this scheme of things is introduced. None of the main modalities of organizing economic activity (markets, hierarchies, inter‐firm alliances and governments) is argued to escape the profound effects of globalization, and from largely having been regarded as alternatives, it is suggested that it is now more realistic to view these modalities as having complementary roles in the organization of resources and capabilities.
Carolyn Deere
- Published in print:
- 2008
- Published Online:
- May 2009
- ISBN:
- 9780199550616
- eISBN:
- 9780191720284
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199550616.001.0001
- Subject:
- Political Science, International Relations and Politics, Political Economy
In the 1990s, the fight between North and South over intellectual property (IP) reached new heights. The result was the World Trade Organization's (WTO's) deeply contested agreement on Trade‐Related ...
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In the 1990s, the fight between North and South over intellectual property (IP) reached new heights. The result was the World Trade Organization's (WTO's) deeply contested agreement on Trade‐Related Aspects of Intellectual Property Rights (TRIPS). Widely resented by developing countries, TRIPS nonetheless permits them some hard‐won flexibility. Puzzling, however, is why some developing countries have used that flexibility and others have not. Even more curious is that despite securing some extra concessions, many of the poorest countries have made least use of them. For scholars of international political economy and law, this book is the first detailed exploration of the links between global IP politics and the implementation of IP reforms. It exposes how power politics occur not just within global trade talks but afterwards when countries implement agreements. For developing countries, TRIPS did not end the IP offensive. At the urging of lobbyists from large multinational companies, powerful countries backtracked on the flexibilities in TRIPS and pursued even stronger global IP rules. To prevent precedents for weaker IP standards in poorer countries, they issued threats to market access, aid, investment, and political alliances. Further, they used new trade deals and, more subtly, ‘capacity‐building’ (assisted by the World Intellectual Property Organization, among others) to leverage faster compliance and higher standards than TRIPS requires. Meanwhile, ‘pro‐development’ advocates from civil society, other UN agencies, and developing countries worked to counter ‘compliance‐plus’ pressures and defend the use of TRIPS flexibilities, sometimes with success. Within developing countries, most governments had little experience of IP law. They often deferred TRIPS implementation to IP offices cut‐off from trade politics and national policymaking, making them more vulnerable to the TRIPS‐plus agenda. In francophone Africa, regional IP arrangements magnified this effect.Less
In the 1990s, the fight between North and South over intellectual property (IP) reached new heights. The result was the World Trade Organization's (WTO's) deeply contested agreement on Trade‐Related Aspects of Intellectual Property Rights (TRIPS). Widely resented by developing countries, TRIPS nonetheless permits them some hard‐won flexibility. Puzzling, however, is why some developing countries have used that flexibility and others have not. Even more curious is that despite securing some extra concessions, many of the poorest countries have made least use of them. For scholars of international political economy and law, this book is the first detailed exploration of the links between global IP politics and the implementation of IP reforms. It exposes how power politics occur not just within global trade talks but afterwards when countries implement agreements. For developing countries, TRIPS did not end the IP offensive. At the urging of lobbyists from large multinational companies, powerful countries backtracked on the flexibilities in TRIPS and pursued even stronger global IP rules. To prevent precedents for weaker IP standards in poorer countries, they issued threats to market access, aid, investment, and political alliances. Further, they used new trade deals and, more subtly, ‘capacity‐building’ (assisted by the World Intellectual Property Organization, among others) to leverage faster compliance and higher standards than TRIPS requires. Meanwhile, ‘pro‐development’ advocates from civil society, other UN agencies, and developing countries worked to counter ‘compliance‐plus’ pressures and defend the use of TRIPS flexibilities, sometimes with success. Within developing countries, most governments had little experience of IP law. They often deferred TRIPS implementation to IP offices cut‐off from trade politics and national policymaking, making them more vulnerable to the TRIPS‐plus agenda. In francophone Africa, regional IP arrangements magnified this effect.
Kaoru Sugihara (ed.)
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780198292715
- eISBN:
- 9780191602580
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198292715.001.0001
- Subject:
- Economics and Finance, South and East Asia
Modern Asian economic history has often been written in terms of Western impact and Asia's response to it. This book argues that the growth of intra-regional trade, migration, and capital and money ...
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Modern Asian economic history has often been written in terms of Western impact and Asia's response to it. This book argues that the growth of intra-regional trade, migration, and capital and money flows was a crucial factor that determined the course of East Asian economic development. The chapters are organized around three main themes. First, economic interactions between Japan and China were important in shaping the pattern of regional industrialization. Neither country imported technology and organizations, and attempted to ‘catch up’ with the West alone. Japan's industrialization took place, taking advantage of the Chinese merchant networks in Asia, while the Chinese competition was a critical factor in the Japanese technological and organizational ‘upgrading’ in the interwar period. Second, the pattern of China's integration into the international economy was shaped by the growth of intra-Asian trade, migration, and capital flows and remittances. While the Western impact was mostly confined to the littoral region of China, intra-Asian trade was more directly connected with China's internal market. Both the fall of the imperial monetary system and the rise of economic nationalism in the early 20th century reflected increasing contacts with the Asian international economy. Third, in spite of the adverse political environment, East Asian merchant and migration networks exploited economic opportunities, taking advantage of colonial institutional arrangements and even political conflicts. They made a contribution to national and regional economic development in the politically more favourable environment after the Second World War by providing the valuable expertise and entrepreneurship they had accumulated before the war. The character of the international order of Asia, governed by Western powers, especially Britain, but shared also by Japan for most of the period, was ‘imperialism of free trade’, although it eventually collapsed by the late 1930s.Less
Modern Asian economic history has often been written in terms of Western impact and Asia's response to it. This book argues that the growth of intra-regional trade, migration, and capital and money flows was a crucial factor that determined the course of East Asian economic development. The chapters are organized around three main themes. First, economic interactions between Japan and China were important in shaping the pattern of regional industrialization. Neither country imported technology and organizations, and attempted to ‘catch up’ with the West alone. Japan's industrialization took place, taking advantage of the Chinese merchant networks in Asia, while the Chinese competition was a critical factor in the Japanese technological and organizational ‘upgrading’ in the interwar period. Second, the pattern of China's integration into the international economy was shaped by the growth of intra-Asian trade, migration, and capital flows and remittances. While the Western impact was mostly confined to the littoral region of China, intra-Asian trade was more directly connected with China's internal market. Both the fall of the imperial monetary system and the rise of economic nationalism in the early 20th century reflected increasing contacts with the Asian international economy. Third, in spite of the adverse political environment, East Asian merchant and migration networks exploited economic opportunities, taking advantage of colonial institutional arrangements and even political conflicts. They made a contribution to national and regional economic development in the politically more favourable environment after the Second World War by providing the valuable expertise and entrepreneurship they had accumulated before the war. The character of the international order of Asia, governed by Western powers, especially Britain, but shared also by Japan for most of the period, was ‘imperialism of free trade’, although it eventually collapsed by the late 1930s.
Susan Strange
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9781784992668
- eISBN:
- 9781526104076
- Item type:
- book
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9781784992668.001.0001
- Subject:
- Political Science, UK Politics
Mad money is a classic of international relations and international political economy literature. It has profound modern relevance. First published by Manchester University Press in 1998, the book ...
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Mad money is a classic of international relations and international political economy literature. It has profound modern relevance. First published by Manchester University Press in 1998, the book called for an end to the volatility of international financial markets. Markets had grown, technology had advanced, regulation had all but disappeared. Finance was calling the tune internationally – governments had been stripped of control, morals had loosened, income gaps were widening sharply. Susan Strange predicted that this would lead to a long, inevitable financial crisis if it continued unchecked. She was proved right within a few years of the book coming out.This reissue includes a new introduction by Benjamin J. Cohen of the University of California that contextualises the book and conveys the value of the work to a modern audience.Less
Mad money is a classic of international relations and international political economy literature. It has profound modern relevance. First published by Manchester University Press in 1998, the book called for an end to the volatility of international financial markets. Markets had grown, technology had advanced, regulation had all but disappeared. Finance was calling the tune internationally – governments had been stripped of control, morals had loosened, income gaps were widening sharply. Susan Strange predicted that this would lead to a long, inevitable financial crisis if it continued unchecked. She was proved right within a few years of the book coming out.This reissue includes a new introduction by Benjamin J. Cohen of the University of California that contextualises the book and conveys the value of the work to a modern audience.
Delia Davin and Barbara Harriss-White (eds)
- Published in print:
- 2014
- Published Online:
- January 2015
- ISBN:
- 9780197265673
- eISBN:
- 9780191771903
- Item type:
- book
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197265673.001.0001
- Subject:
- Society and Culture, Asian Studies
China and India, the world’s most populous countries, have rapidly developing economies that are shaping world politics in the 21st century. They are often compared in terms of lagged outcomes and ...
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China and India, the world’s most populous countries, have rapidly developing economies that are shaping world politics in the 21st century. They are often compared in terms of lagged outcomes and contrasted trajectories. The present volume aims to examine more closely their commonalities as well as differences. In sections covering domestic economy, international economy, demography, migration and labour, and the environment, paired chapters examine each country. Probing behind the obvious contrasts, the essays disclose important ways in which the two countries are alike in facing the problems produced in large, formerly agrarian societies by rapid economic development and interaction with the global economy.Less
China and India, the world’s most populous countries, have rapidly developing economies that are shaping world politics in the 21st century. They are often compared in terms of lagged outcomes and contrasted trajectories. The present volume aims to examine more closely their commonalities as well as differences. In sections covering domestic economy, international economy, demography, migration and labour, and the environment, paired chapters examine each country. Probing behind the obvious contrasts, the essays disclose important ways in which the two countries are alike in facing the problems produced in large, formerly agrarian societies by rapid economic development and interaction with the global economy.
Edward Kwakwa
- Published in print:
- 2001
- Published Online:
- January 2010
- ISBN:
- 9780199244027
- eISBN:
- 9780191713224
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199244027.003.0012
- Subject:
- Law, Public International Law
This chapter discusses the role of the State in regulating the international economy. It focuses on the particular concerns and issues affecting ‘less developed’ or ‘developing’ countries (LDCs). It ...
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This chapter discusses the role of the State in regulating the international economy. It focuses on the particular concerns and issues affecting ‘less developed’ or ‘developing’ countries (LDCs). It describes some of the reasons why the international economy is regulated. It explains how the international economy is regulated, or who sets the rules by which the international economy is regulated. It provides examples of the role of politics in international law, as well as of the role of law in international politics. It argues that, rather than resulting in the end of the State, globalization and efforts to regulate the international economy will in fact enhance some of the important functions of the State. It concludes that the far-reaching repercussions of the Asian financial crisis amply demonstrate why the role of the State in the international economy is so important.Less
This chapter discusses the role of the State in regulating the international economy. It focuses on the particular concerns and issues affecting ‘less developed’ or ‘developing’ countries (LDCs). It describes some of the reasons why the international economy is regulated. It explains how the international economy is regulated, or who sets the rules by which the international economy is regulated. It provides examples of the role of politics in international law, as well as of the role of law in international politics. It argues that, rather than resulting in the end of the State, globalization and efforts to regulate the international economy will in fact enhance some of the important functions of the State. It concludes that the far-reaching repercussions of the Asian financial crisis amply demonstrate why the role of the State in the international economy is so important.
Gordon L. Clark, Adam D. Dixon, and Ashby H. B. Monk
- Published in print:
- 2013
- Published Online:
- October 2017
- ISBN:
- 9780691142296
- eISBN:
- 9781400846511
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691142296.003.0007
- Subject:
- Economics and Finance, International
This chapter offers an innovative account—rooted in international political economy, economic geography, and geopolitics—of the rise of the China Investment Corporation (CIC). It argues that the CIC ...
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This chapter offers an innovative account—rooted in international political economy, economic geography, and geopolitics—of the rise of the China Investment Corporation (CIC). It argues that the CIC is not an investor governed only by concerns for long-term risk-adjusted rate of return on its investment portfolio. Rather, the CIC as an arm of the Chinese government, which just like other state-owned enterprises, is concerned with the country's resource needs and its status as a global power. The CIC may thus be thought of as a means of realizing economic and geopolitical advantage, legitimized perhaps by an expressed, but limited, concern for the long-term rate of return on invested assets, hence the classification of the CIC as a productivist sovereign wealth fund.Less
This chapter offers an innovative account—rooted in international political economy, economic geography, and geopolitics—of the rise of the China Investment Corporation (CIC). It argues that the CIC is not an investor governed only by concerns for long-term risk-adjusted rate of return on its investment portfolio. Rather, the CIC as an arm of the Chinese government, which just like other state-owned enterprises, is concerned with the country's resource needs and its status as a global power. The CIC may thus be thought of as a means of realizing economic and geopolitical advantage, legitimized perhaps by an expressed, but limited, concern for the long-term rate of return on invested assets, hence the classification of the CIC as a productivist sovereign wealth fund.
Anja P. Jakobi
- Published in print:
- 2010
- Published Online:
- September 2010
- ISBN:
- 9780199591145
- eISBN:
- 9780191594601
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199591145.003.0007
- Subject:
- Political Science, International Relations and Politics, Political Economy
Chapter 7 analyzes OECD activities in the field of crime control, focusing on corruption and money laundering. Both aspects have witnessed growing international concern during the 1990s, and ...
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Chapter 7 analyzes OECD activities in the field of crime control, focusing on corruption and money laundering. Both aspects have witnessed growing international concern during the 1990s, and various international activities have been started to criminalize and prosecute corruption and money laundering across countries. While each of these crimes seriously impact both politics and the economy, the political solutions found in the context of the OECD have been very different: Corruption has been tackled by an OECD convention and emerged as a core issue of OECD activities and publications, while money laundering has been treated by the Financial Action Taskforce (FATF), a semi‐autonomous agency that is formally independent of the OECD but is based in the organization's building and has a widely overlapping membership. The chapter reconstructs the political process that led to the emergence of both models, showing how different conditions on the input side resulted in different models of fighting financial crime.Less
Chapter 7 analyzes OECD activities in the field of crime control, focusing on corruption and money laundering. Both aspects have witnessed growing international concern during the 1990s, and various international activities have been started to criminalize and prosecute corruption and money laundering across countries. While each of these crimes seriously impact both politics and the economy, the political solutions found in the context of the OECD have been very different: Corruption has been tackled by an OECD convention and emerged as a core issue of OECD activities and publications, while money laundering has been treated by the Financial Action Taskforce (FATF), a semi‐autonomous agency that is formally independent of the OECD but is based in the organization's building and has a widely overlapping membership. The chapter reconstructs the political process that led to the emergence of both models, showing how different conditions on the input side resulted in different models of fighting financial crime.
Christopher Wilkie
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199606467
- eISBN:
- 9780191731648
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199606467.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Following the Rio Agreement in 1967, the birth of the Special Drawing Right (SDR) was widely heralded as the first step towards a world international money. The SDR's intended purpose, though, was ...
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Following the Rio Agreement in 1967, the birth of the Special Drawing Right (SDR) was widely heralded as the first step towards a world international money. The SDR's intended purpose, though, was more modest: to help salvage the prevailing international monetary system which had evolved since Bretton Woods. This volume examines the relatively recent and important history of SDRs—what they are, where they came from, and why they are significant. This book considers the changing roles and influences of the US and the International Monetary Fund (IMF) as post‐Bretton Woods monetary arrangements established themselves. Despite their retreat from early acclaim, work continued, particularly at the Fund, on enhancing the potential of SDRs to contribute to international monetary stability, and SDRs have recently re‐emerged as a potential source of support and stability for the international monetary system underpinning the world economy. The SDR, and the debate surrounding it, is an excellent prism through which to examine other important themes in contemporary international political economy, including international liquidity provision and international monetary reform. Ultimately, the policies of the US, the IMF, and the changing nature of the relationship between them emerge as fundamental themes for an understanding of prospects for SDRs under post‐Bretton Woods international monetary arrangements. Today, the promise and disappointment that has characterized the short history of SDRs is more important than ever as the world again examines these arrangements in the wake of the international financial crisis.Less
Following the Rio Agreement in 1967, the birth of the Special Drawing Right (SDR) was widely heralded as the first step towards a world international money. The SDR's intended purpose, though, was more modest: to help salvage the prevailing international monetary system which had evolved since Bretton Woods. This volume examines the relatively recent and important history of SDRs—what they are, where they came from, and why they are significant. This book considers the changing roles and influences of the US and the International Monetary Fund (IMF) as post‐Bretton Woods monetary arrangements established themselves. Despite their retreat from early acclaim, work continued, particularly at the Fund, on enhancing the potential of SDRs to contribute to international monetary stability, and SDRs have recently re‐emerged as a potential source of support and stability for the international monetary system underpinning the world economy. The SDR, and the debate surrounding it, is an excellent prism through which to examine other important themes in contemporary international political economy, including international liquidity provision and international monetary reform. Ultimately, the policies of the US, the IMF, and the changing nature of the relationship between them emerge as fundamental themes for an understanding of prospects for SDRs under post‐Bretton Woods international monetary arrangements. Today, the promise and disappointment that has characterized the short history of SDRs is more important than ever as the world again examines these arrangements in the wake of the international financial crisis.
Francesco Duina
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199694761
- eISBN:
- 9780191741289
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199694761.003.0003
- Subject:
- Business and Management, Organization Studies
The twentieth century saw the consolidation of national economies. The twenty-first century could very well be the time of regional trading blocs: today, nearly every country on Earth is part of one ...
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The twentieth century saw the consolidation of national economies. The twenty-first century could very well be the time of regional trading blocs: today, nearly every country on Earth is part of one or more such blocs. Financial and manufacturing firms, labour, interest groups, and other economic actors are operating in regional economic spaces. But does this mean that those actors will necessarily acquire a more regional character? And will blocs over the long term help or hinder the rise of a truly international economy? This chapter argues in this chapter that trading blocs are highly complex projects that can have multifaceted implications for economic actors and the international economy. Rather than a simple economic space, twenty-first century capitalism is likely to bring complexity and variation.Less
The twentieth century saw the consolidation of national economies. The twenty-first century could very well be the time of regional trading blocs: today, nearly every country on Earth is part of one or more such blocs. Financial and manufacturing firms, labour, interest groups, and other economic actors are operating in regional economic spaces. But does this mean that those actors will necessarily acquire a more regional character? And will blocs over the long term help or hinder the rise of a truly international economy? This chapter argues in this chapter that trading blocs are highly complex projects that can have multifaceted implications for economic actors and the international economy. Rather than a simple economic space, twenty-first century capitalism is likely to bring complexity and variation.
Paul Langley
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199236596
- eISBN:
- 9780191717079
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199236596.001.0001
- Subject:
- Economics and Finance, Financial Economics
Grounded in literature from the sociology of finance and international political economy, and informed by extensive empirical research, this book explores the unprecedented relationships that now ...
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Grounded in literature from the sociology of finance and international political economy, and informed by extensive empirical research, this book explores the unprecedented relationships that now bind Anglo-American society with the financial markets. As mutual funds have increased in popularity and pension provision has been transformed, many more individuals and households have come to invest in stocks and shares. As consumer borrowing has risen dramatically and mortgage finance has embraced those deemed sub-prime, so the repayments of credit card holders and mortgagors have provided the basis for the issue and trading of bonds and other market instruments. This book shows how financial market networks have come to extend well beyond Wall Street and the City of London, becoming embedded and embodied in routine saving and borrowing in the US and UK. Society's new-found relationships with the markets are also shown, however, to be marked by stark inequalities, manifest contradictions, and political dissent.Less
Grounded in literature from the sociology of finance and international political economy, and informed by extensive empirical research, this book explores the unprecedented relationships that now bind Anglo-American society with the financial markets. As mutual funds have increased in popularity and pension provision has been transformed, many more individuals and households have come to invest in stocks and shares. As consumer borrowing has risen dramatically and mortgage finance has embraced those deemed sub-prime, so the repayments of credit card holders and mortgagors have provided the basis for the issue and trading of bonds and other market instruments. This book shows how financial market networks have come to extend well beyond Wall Street and the City of London, becoming embedded and embodied in routine saving and borrowing in the US and UK. Society's new-found relationships with the markets are also shown, however, to be marked by stark inequalities, manifest contradictions, and political dissent.
Regina Grafe
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691144849
- eISBN:
- 9781400840533
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691144849.003.0005
- Subject:
- Economics and Finance, Economic History
This chapter discusses how domestic market integration in Spain was much slower than it's integration with the international economy over the long run, and its progress was regionally extremely ...
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This chapter discusses how domestic market integration in Spain was much slower than it's integration with the international economy over the long run, and its progress was regionally extremely diverse. Poor transport technology and bad roads did not help matters and provide some of the background for understanding Spanish markets. Still, transport itself exhibited a trend toward slow but steady improvement over the century and a half under consideration here. Moreover, there is little evidence that Spain's political economy suffered from the sort of expropriatory failings of supposedly centralizing, all-powerful “absolutist” states that earlier literature had diagnosed. As historians of the Spanish Empire have long pointed out, in the Spanish monarchy, even in its European core, absolutism was merely a political aspiration.Less
This chapter discusses how domestic market integration in Spain was much slower than it's integration with the international economy over the long run, and its progress was regionally extremely diverse. Poor transport technology and bad roads did not help matters and provide some of the background for understanding Spanish markets. Still, transport itself exhibited a trend toward slow but steady improvement over the century and a half under consideration here. Moreover, there is little evidence that Spain's political economy suffered from the sort of expropriatory failings of supposedly centralizing, all-powerful “absolutist” states that earlier literature had diagnosed. As historians of the Spanish Empire have long pointed out, in the Spanish monarchy, even in its European core, absolutism was merely a political aspiration.
Kevin P. Gallagher
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199641987
- eISBN:
- 9780191741586
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199641987.003.0007
- Subject:
- Business and Management, Political Economy, Finance, Accounting, and Banking
The Global Financial Crisis has triggered a transformation in thinking and practice regarding the role of government in managing international capital flows. This chapter traces and evaluates the ...
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The Global Financial Crisis has triggered a transformation in thinking and practice regarding the role of government in managing international capital flows. This chapter traces and evaluates the reemergence of capital controls as legitimate tools to promote financial stability. Whereas capital controls were seen as orthodox in the neoliberal era that began in the late 1970s, there is now an emerging consensus that capital controls can play a legitimate role in promoting financial stability. From 2009 to early 2011, a number of developing nations resorted to capital controls to halt the appreciation of their currencies, and to pursue independent monetary policies to cool asset bubbles and inflation. This chapter evaluates he effectiveness of these controls is conducted for the cases of Brazil, South Korea, and Taiwan. This analysis suggests that Brazil and Taiwan have been relatively successful in deploying controls, though South Korea’s success has been more modest. The fact that capital controls continue to yield positive results is truly remarkable given the fact that there has been little (or contrary) support for global coordination, and that many nations lack the necessary institutions for effective policies. The chapter concludes by pointing to the need for more concerted global and national efforts to manage global capital flows for stability and growth.Less
The Global Financial Crisis has triggered a transformation in thinking and practice regarding the role of government in managing international capital flows. This chapter traces and evaluates the reemergence of capital controls as legitimate tools to promote financial stability. Whereas capital controls were seen as orthodox in the neoliberal era that began in the late 1970s, there is now an emerging consensus that capital controls can play a legitimate role in promoting financial stability. From 2009 to early 2011, a number of developing nations resorted to capital controls to halt the appreciation of their currencies, and to pursue independent monetary policies to cool asset bubbles and inflation. This chapter evaluates he effectiveness of these controls is conducted for the cases of Brazil, South Korea, and Taiwan. This analysis suggests that Brazil and Taiwan have been relatively successful in deploying controls, though South Korea’s success has been more modest. The fact that capital controls continue to yield positive results is truly remarkable given the fact that there has been little (or contrary) support for global coordination, and that many nations lack the necessary institutions for effective policies. The chapter concludes by pointing to the need for more concerted global and national efforts to manage global capital flows for stability and growth.
Ranald Michie
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199242559
- eISBN:
- 9780191596643
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199242550.001.0001
- Subject:
- Economics and Finance, Economic History, Financial Economics
Ranald Michie traces the history of the London Stock Exchange from its beginnings around 1700 to the end of the twentieth century, chronicling the challenges and opportunities it has faced, avoided, ...
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Ranald Michie traces the history of the London Stock Exchange from its beginnings around 1700 to the end of the twentieth century, chronicling the challenges and opportunities it has faced, avoided, or exploited over the years. Throughout, the history seeks to blend an understanding of the London Stock Exchange as an institution with that of the securities market of which it was––and is––such an important component; one cannot be examined satisfactorily without the other. Without a knowledge of both, for example, the causes of the ’Big Bang’ of 1986 would forever remain a mystery. However, the history of the London Stock Exchange is not just worthy of study for what it reveals about the interaction between institution and market. Such was its importance that its rise to world dominance before 1914, its decline thereafter, and its renaissance from the mid‐1980s explain a great deal about Britain's own economic performance and the working of the international economy.Less
Ranald Michie traces the history of the London Stock Exchange from its beginnings around 1700 to the end of the twentieth century, chronicling the challenges and opportunities it has faced, avoided, or exploited over the years. Throughout, the history seeks to blend an understanding of the London Stock Exchange as an institution with that of the securities market of which it was––and is––such an important component; one cannot be examined satisfactorily without the other. Without a knowledge of both, for example, the causes of the ’Big Bang’ of 1986 would forever remain a mystery. However, the history of the London Stock Exchange is not just worthy of study for what it reveals about the interaction between institution and market. Such was its importance that its rise to world dominance before 1914, its decline thereafter, and its renaissance from the mid‐1980s explain a great deal about Britain's own economic performance and the working of the international economy.
John Hicks
- Published in print:
- 1989
- Published Online:
- November 2003
- ISBN:
- 9780198287247
- eISBN:
- 9780191596407
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198287240.003.0015
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter addresses the issue of Britain's participation (and degree of participation) in, the European Monetary System (EMS). It does not attempt any direct conclusion to that issue. Instead, it ...
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This chapter addresses the issue of Britain's participation (and degree of participation) in, the European Monetary System (EMS). It does not attempt any direct conclusion to that issue. Instead, it constructs a theoretical model which may have a bearing upon it — and considers similar questions which have come up in the past, and will surely continue to do so, as far ahead as one can look. Thus what it means by an international economy is one consisting of a number of national economies, each of which uses its own money. Within each nation are a number (which we take to be a large number) of separate decision-makers, persons and firms, private and public, which have commercial and financial relations between them. The parties to a transaction may have the same, or they may have different, national attachments.Less
This chapter addresses the issue of Britain's participation (and degree of participation) in, the European Monetary System (EMS). It does not attempt any direct conclusion to that issue. Instead, it constructs a theoretical model which may have a bearing upon it — and considers similar questions which have come up in the past, and will surely continue to do so, as far ahead as one can look. Thus what it means by an international economy is one consisting of a number of national economies, each of which uses its own money. Within each nation are a number (which we take to be a large number) of separate decision-makers, persons and firms, private and public, which have commercial and financial relations between them. The parties to a transaction may have the same, or they may have different, national attachments.
