Download Free Understanding The Political Economy Of International Capital Mobility And Credit Rating Agencies A Constructivist Approach Book in PDF and EPUB Free Download. You can read online Understanding The Political Economy Of International Capital Mobility And Credit Rating Agencies A Constructivist Approach and write the review.

The study of international relations now goes well beyond state-to-state politics and even regional politics. Technological forces are working their effects on the world as a whole, bringing state and non-state actors into contact with one another. Globalization, Institutions and Governance provides students with a sophisticated and engaging exploration of the often differing impacts of these technological forces and the wider implications of globalization for theories of global governance and the role of international institutions. This title is part of the SAGE Series on the Foundations of International Relations. This series fills the gap between narrowly-focused research monographs and broad introductory texts, providing graduate students with state-of-the-art, critical overviews of the key sub-fields within International Relations: International Political Economy, International Security, Foreign Policy Analysis, International Organization, Normative IR Theory, International Environmental Politics, Globalization, and IR Theory. Explicitly designed to further the transatlantic dialogue fostered by publications such as the SAGE Handbook of International Relations, the series is written by renowned scholars drawn from North America, continental Europe and the UK. The books are intended as core texts on advanced courses in IR, taking students beyond the basics and into the heart of the debates within each field, encouraging an independent, critical approach and signposting further avenues of research. Series Editors: Walter Carlsnaes Uppsala University, Sweden Jeffrey T. Checkel Simon Fraser University, Canada International Advisory Board: Peter J. Katzenstein Cornell University, USA; Emanuel Adler University of Toronto, Canada; Martha Finnemore George Washington University, USA; Andrew Hurrell Oxford University, UK; G. John Ikenberry Princeton University, USA; Beth Simmons Harvard University, USA; Steve Smith University of Exeter, UK; Michael Zuern Hertie School of Governance, Berlin, Germany.
Business is one of the major power centres in modern society. The state seeks to check and channel that power so as to serve broader public policy objectives. However, if the way in which business is governed is ineffective or over burdensome, it may become more difficult to achieve desired goals such as economic growth or higher levels of employment. In a period of international economic crisis, the study of how business and government relate to each other in different countries isof more central importance than ever.These relationships have been studied from a number of different disciplinary perspectives - business studies, economics, economic history, law, and political science - and all of these are represented in this handbook. The first part of the book provides an introduction to the ways in which five different disciplines have approached the study of business and government. The second section, on the firm and the state, looks at how these entities interact in different settings, emphasising suchphenomena as the global firm and varieties of capitalism. The third section examines how business interacts with government in different parts of the world, including the United States, the EU, China, Japan and South America. The fourth section reviews changing patterns of market governance through aunifying theme of the role of regulation. Business-government relations can play out in divergent ways in different policy and the fifth section examines the contrasts between different key arenas such as competition policy, trade policy, training policy and environmental policy.The volume provides an authoritative overview with chapters by leading authorities on the current state of knowledge of business-government relations, but also points to ways in which this work might be developed in the future, e.g., through a political theory of the firm.
This volume presents eight good practice examples of problem-driven political economy analysis conducted at the World Bank, and reflect what the Bank has so far been able to achieve in mainstreaming this approach into its operations and policy dialogue.
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Providing an overview of the range and scope of International Political Economy scholarship, this important work maps the different regional schools of IPE and notes the distinctive way IPE is practiced and conceptualized around the world.
A major new text on contemporary global political economy that focuses centrally on key issues and actors. Concise and accessibly written, it provides an ideal introduction to the contemporary dynamics and processes of change in the global political economy.
In The New Masters of Capital, Timothy J. Sinclair examines a key aspect of the global economy—the rating agencies. In the global economy, trust is formalized in the daily operations of such firms as Moody's and Standard & Poor's, which continuously monitor the financial health of bond-issuers ranging from private corporations to local and national governments. Their judgments affect unimaginably large sums, approximately $30 trillion in outstanding debt issues, according to a recent Moody's estimate. The difference between an AA and a BB rating may cost millions of dollars in interest payments or determine if a corporation or government can even issue bonds Without bond rating agencies, there would be no standard means to compare risks in the global economy, and international investment would be problematic. Most observers assume that the agencies are neutral and scientific, and that they interpret their role in narrowly economic terms. But these agencies, by their nature, wield extraordinary power and exert massive influence over public policy. Sinclair offers a highly accessible account of these institutions, their origins, and the rating processes they use to judge creditworthiness. Illustrated with a wide range of cases, this book offers a fresh assessment of the role of an often-overlooked institution in the dynamics of modern global capitalism.
This book contains a number of papers presented at a workshop organised by the World Bank in 1997 on the theme of 'Social Capital: Integrating the Economist's and the Sociologist's Perspectives'. The concept of 'social capital' is considered through a number of theoretical and empirical studies which discuss its analytical foundations, as well as institutional and statistical analyses of the concept. It includes the classic 1987 article by the late James Coleman, 'Social Capital in the Creation of Human Capital', which formed the basis for the development of social capital as an organising concept in the social sciences.
How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.