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Author: David Zaring Publisher: Cambridge University Press ISBN: 1108475515 Category : Business & Economics Languages : en Pages : 181
Book Description
Argues that the global, informal process supervising the financial system is an overlooked form of international governance that actually works.
Author: David Zaring Publisher: Cambridge University Press ISBN: 1108475515 Category : Business & Economics Languages : en Pages : 181
Book Description
Argues that the global, informal process supervising the financial system is an overlooked form of international governance that actually works.
Author: Ilene Grabel Publisher: MIT Press ISBN: 0262538520 Category : Business & Economics Languages : en Pages : 401
Book Description
An account of the significant though gradual, uneven, disconnected, ad hoc, and pragmatic innovations in global financial governance and developmental finance induced by the global financial crisis. In When Things Don't Fall Apart, Ilene Grabel challenges the dominant view that the global financial crisis had little effect on global financial governance and developmental finance. Most observers discount all but grand, systemic ruptures in institutions and policy. Grabel argues instead that the global crisis induced inconsistent and ad hoc discontinuities in global financial governance and developmental finance that are now having profound effects on emerging market and developing economies. Grabel's chief normative claim is that the resulting incoherence in global financial governance is productive rather than debilitating. In the age of productive incoherence, a more complex, dense, fragmented, and pluripolar form of global financial governance is expanding possibilities for policy and institutional experimentation, policy space for economic and human development, financial stability and resilience, and financial inclusion. Grabel draws on key theoretical commitments of Albert Hirschman to cement the case for the productivity of incoherence. Inspired by Hirschman, Grabel demonstrates that meaningful change often emerges from disconnected, erratic, experimental, and inconsistent adjustments in institutions and policies as actors pragmatically manage in an evolving world. Grabel substantiates her claims with empirically rich case studies that explore the effects of recent crises on networks of financial governance (such as the G-20); transformations within the IMF; institutional innovations in liquidity support and project finance from the national to the transregional levels; and the “rebranding” of capital controls. Grabel concludes with a careful examination of the opportunities and risks associated with the evolutionary transformations underway.
Author: Kern Alexander Publisher: Oxford University Press ISBN: 0195166981 Category : Business & Economics Languages : en Pages : 329
Book Description
The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance structure is necessary to have more efficient regulation of the international financial system.
Author: David Zaring Publisher: Cambridge University Press ISBN: 1108654797 Category : Law Languages : en Pages : 181
Book Description
Big banks are capable of wreaking havoc on the global economy, and governments have often felt powerless to stop them. Regulators have responded by developing coordinated programs to handle banks, insurers, broker dealers, shadow banks and other businesses that can blow up in a crisis. This program began informally and undemocratically, and has developed into something much more organized, formalized and predictable, even though it has never been legally enforceable. David Zaring examines the realities of the current international financial system and concludes that in fact this is a well-ordered and functioning regulatory environment: the international financial system enjoys a substantial degree of compliance, and operates predictably and harmoniously. As a result, perhaps this could serve as a paradigm for future global governance. Zaring explores three aspects of international financial regulation that can inform global governance: harmonization through rules, cooperation on enforcement and agreement on fundamental principles.
Author: John J. Kirton Publisher: Routledge ISBN: 1317131118 Category : Political Science Languages : en Pages : 515
Book Description
This book offers the most thorough, detailed inside story of the preparation, negotiation, performance, and achievements of G20 gatherings from their start at the finance level in 1999 through their rise to become leader-level summits in response to the great global financial crisis in 2008. Follow the moves of America’s George Bush and Barack Obama, Britain’s Gordon Brown and David Cameron, Canada’s Stephen Harper, Germany’s Angela Merkel, and other key leaders as they struggle to contain the worst global recession since the Great Depression of the 1930s. This book provides a full chapter-long account of each of the first four G20 summits from Washington to Toronto with summaries of the ensuing summits. It uses international relations theory to build and apply a model of systemic hub governance to back its central claim to show convincingly that G20 performance has grown to successfully govern an increasingly interconnected, complex, crisis-ridden, globalized twenty-first century world.
Author: Heather McKeen-Edwards Publisher: Routledge ISBN: 1135068615 Category : Political Science Languages : en Pages : 242
Book Description
The role of business in global governance is now widely recognized, but exploration of its role in global financial governance has been more haphazard than systematic. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs) in the organization of global finance. This book develops three theoretical themes of assemblage, functionality, and power as enrolment. These themes challenge approaches that treat financial power as emanating from a single location or force. Whilst existing approaches tend to treat TFAs as irrelevant or as merely transmitting power originating elsewhere, this book argues that power must be created by painstakingly assembling actors, networks, and objects that are often quite autonomous and working at cross purposes to one another—a process in which TFAs play a central role. The book explores these themes in chapters examining the roles of TFAs in interacting with public authorities, constructing global financial markets, and creating financial communities. The authors additionally analyse the roles of TFAs in the European Union, in the Global South, and in promoting goals other than profitability, including Islamic finance, microfinancing, savings banks and cooperatives. Making a distinctive contribution to our understanding of global finance and global governance, Transnational Financial Associations and the Governance of Global Finance is an important book for students and scholars of international political economy, finance, global governance and international relations.
Author: Fabrizio Cafaggi Publisher: Edward Elgar Publishing ISBN: 0857939483 Category : Business & Economics Languages : en Pages : 220
Book Description
ÔThe publication of this book could hardly be more timely; it fills a gap in present-day discussion of the reasons for the recent ongoing financial crises, and who was responsible. The balance between the governance and regulation of the international finance market underpins how securely we proceed into the future. At a time when sovereign defaults dominate public discussion, this issue is of quintessential importance. The editors are to be congratulated for this important publication.Õ Ð Christoph Paulus, Humbolt University of Berlin, Germany This thought-provoking book adds a new perspective to the analysis of how regulation should respond to the global financial crisis of 2008Ð2009. It focuses on the ÔprivateÕ as opposed to ÔpublicÕ aspect of regulation, and highlights the works of the publicÐprivate dialectic in regulation and enforcement. The expert authors examine what is perhaps the single most important sector in which public and private regulation and enforcement intersect: the arena of banking and global finance. The detailed analysis of these particular areas of finance thus provides a means for investigating aspects of the important topic of private regulation and enforcement in financial markets. A number of pertinent questions are addressed, including: How does private regulation and enforcement enhance or detract from the legitimacy of the process by which these market segments are managed and controlled? How does private regulation and enforcement manifest independence of action and judgment, as compared with public regulation? How does private regulation and enforcement measure up along dimensions of quality, relative to public regulation? and, finally, What forms of accountability characterize private as opposed to public regulation and enforcement? Illustrating the works of the publicÐprivate dialectic in regulation and enforcement, this challenging book will prove a fascinating read for academics, scholars and practitioners with an interest in regulation and governance issues, and in financial and banking law.
Author: Emilios Avgouleas Publisher: Cambridge University Press ISBN: 0521762669 Category : Business & Economics Languages : en Pages : 501
Book Description
Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.
Author: Anthony McGrew Publisher: Polity ISBN: 9780745627342 Category : Political Science Languages : en Pages : 384
Book Description
Since the UN's creation in 1945 a vast nexus of global and regional institutions has evolved, surrounded by a proliferation of non-governmental agencies and advocacy networks seeking to influence the agenda and direction of international public policy. Although world government remains a fanciful idea, there does exist an evolving global governance complex - embracing states, international institutions, transnational networks and agencies (both public and private) - which functions, with variable effect, to promote, regulate or intervene in the common affairs of humanity. This book provides an accessible introduction to the current debate about the changing form and political significance of global governance. It brings together original contributions from many of the best-known theorists and analysts of global politics to explore the relevance of the concept of global governance to understanding how global activity is currently regulated. Furthermore, it combines an elucidation of substantive theories with a systematic analysis of the politics and limits of governance in key issue areas - from humanitarian intervention to the regulation of global finance. Thus, the volume provides a comprehensive theoretical and empirical assessment of the shift from national government to multilayered global governance. Governing Globalization is the third book in the internationally acclaimed series on global transformations. The other two volumes are Global Transformations: Politics, Economics and Culture and The Global Transformations Reader: An Introduction to the Globalization Debate.
Author: David Zaring
Author: David Zaring
Author: Ilene Grabel
Author: Kern Alexander
Author: David Zaring
Author: John J. Kirton
Author: Heather McKeen-Edwards
Author: Fabrizio Cafaggi
Author: Emilios Avgouleas
Author: Anthony McGrew
Author: Rodney Bruce Hall