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Governing the World's Biggest Market by Eric Helleiner,Stefano Pagliari,Irene Spagna Pdf
What has been done since the 2008 financial crisis to reform the regulation of derivatives markets? The volume analyzes the goals, limitations, and unexpected outcomes associated with post-crisis international initiatives to regulate these markets, as well as the different transnational, inter-state, and domestic political dynamics that have shaped these outcomes
The story of global cooperation between nations and peoples is a tale of dreamers goading us to find common cause in remedying humanity’s worst problems. But international institutions have also provided a tool for the powers that be to advance their own interests and stamp their imprint on the world. Mark Mazower’s Governing the World tells the epic story of that inevitable and irresolvable tension—the unstable and often surprising alchemy between ideas and power. From the beginning, the willingness of national leaders to cooperate has been spurred by crisis: the book opens in 1815, amid the rubble of the Napoleonic Empire, as the Concert of Europe was assembled with an avowed mission to prevent any single power from dominating the continent and to stamp out revolutionary agitation before it could lead to war. But if the Concert was a response to Napoleon, internationalism was a response to the Concert, and as courts and monarchs disintegrated they were replaced by revolutionaries and bureaucrats. 19th century internationalists included bomb-throwing anarchists and the secret policemen who fought them, Marxist revolutionaries and respectable free marketeers. But they all embraced nationalism, the age’s most powerful transformative political creed, and assumed that nationalism and internationalism would go hand in hand. The wars of the twentieth century saw the birth of institutions that enshrined many of those ideals in durable structures of authority, most notably the League of Nations in World War I and the United Nations after World War II. Throughout this history, we see that international institutions are only as strong as the great powers of the moment allow them to be. The League was intended to prop up the British empire. With Washington taking over world leadership from Whitehall, the United Nations became a useful extension of American power. But as Mazower shows us, from the late 1960s on, America lost control over the dialogue and the rise of the independent Third World saw a marked shift away from the United Nations and toward more pliable tools such as the World Bank and the International Monetary Fund. From the 1990s to 2007, Governing the World centers on a new regime of global coordination built upon economic rule-making by central bankers and finance ministers, a regime in which the interests of citizens and workers are trumped by the iron logic of markets. Now, the era of Western dominance of international life is fast coming to an end and a new multi-centered global balance of forces is emerging. We are living in a time of extreme confusion about the purpose and durability of our international institutions. History is not prophecy, but Mark Mazower shows us why the current dialectic between ideals and power politics in the international arena is just another stage in an epic two-hundred-year story.
Governing the World's Biggest Market by Eric Helleiner,Stefano Pagliari,Irene Spagna Pdf
What has been done since the 2008 financial crisis to reform the regulation of derivatives markets? The volume analyzes the goals, limitations, and unexpected outcomes associated with post-crisis international initiatives to regulate these markets, as well as the different transnational, inter-state, and domestic political dynamics that have shaped these outcomes.
Governing the World's Biggest Market by Eric Helleiner,Stefano Pagliari,Irene Spagna Pdf
In the wake of the 2008 global financial crisis, the regulation of the world's enormous derivatives markets assumed center stage on the international public policy agenda. Critics argued that loose regulation had contributed to the momentous crisis, but lasting reform has been difficult to implement since. Despite the global importance of derivatives markets, they remain mysterious and obscure to many. In Governing the World's Biggest Market, Eric Helleiner, Stefano Pagliari, and Irene Spagna have gathered an international cast of contributors to rectify this relative neglect. They examine how G20 governments have developed a coordinated international agenda to enhance control over these markets, which had been allowed to grow largely unchecked before the crisis. In analyzing this reform agenda, they advance three core arguments: first, the agenda to rein in these enormous markets has many limitations; second, the reform process has been plagued by delays, inconsistencies, and tensions that fragment the governance of these markets; and third, the politics driving the reforms have been extremely complicated. An authoritative overview of how this vast system is governed, Governing the World's Biggest Market looks at how the goals, limitations, and outcomes of post-crisis initiatives to regulate these markets have been influenced by a complex combination of transnational, inter-state, and domestic political dynamics. Moreover, this volume emphasizes how crucial regulatory reform is to stabilizing the global economy long-term.
The European Union and Global Governance by Dr Jens-Uwe Wunderlich,David J Bailey Pdf
The European Union and Global Governance: A Handbook aims to analyse contemporary debates in European Studies in order to provide lessons for the development, design and normative evaluation of global governance. It brings together scholars of European studies and international relations, where much of the literature on regional and global governance is located, thereby providing interdisciplinary lessons from the study of European Union and its governance that can be used to re-evaluate processes of global governance. Each chapter examines methodological, theoretical or empirical discussions within European studies in order to draw insights for current developments in global governance.
Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country. This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements. This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.
Power Shifts and Global Governance by Ashwani Kumar,Dirk Messner Pdf
‘Power Shifts and Global Governance: Challenges from South and North’ presents an eclectic theoretical framework for emerging architectures of global governance through examining country and regional case studies from the perspective of 'great power shifts' in the twenty-first century. The book analytically and empirically explores the role of global civil society, discusses the implications of the rise of India and China, analyses regional security issues in Latin America and the Middle East and develops proposals for possible summit and UN reforms.
The efficiency, safety, and soundness of financial markets depend on the operation of core infrastructure--exchanges, central counter-parties, and central securities depositories. How these institutions are governed critically affects their performance. Yet, despite their importance, there is little certainty, still less a global consensus, about their governance. Running the World's Markets examines how markets are, and should be, run. Utilizing a wide variety of arguments and examples from throughout the world, Ruben Lee identifies and evaluates the similarities and differences between exchanges, central counter-parties, and central securities depositories. Drawing on knowledge and experience from various disciplines, including business, economics, finance, law, politics, and regulation, Lee employs a range of methodologies to tackle different goals. Conceptual analysis is used to examine theoretical issues, survey evidence to describe key aspects of how market infrastructure institutions are governed and regulated globally, and case studies to detail the particular situations and decisions at specific institutions. The combination of these approaches provides a unique and rich foundation for evaluating the complex issues raised. Lee analyzes efficient forms of governance, how regulatory powers should be allocated, and whether regulatory intervention in governance is desirable. He presents guidelines for identifying the optimal governance model for any market infrastructure institution within the context of its specific environment. Running the World's Markets provides a definitive and peerless reference for how to govern and regulate financial markets.
Author : Donald H. Chew,Stuart L. Gillan Publisher : Columbia University Press Page : 393 pages File Size : 53,6 Mb Release : 2009-08-24 Category : Business & Economics ISBN : 9780231519977
Global Corporate Governance by Donald H. Chew,Stuart L. Gillan Pdf
Effective corporate governance, or the set of controls and incentives that drive top management, originates both outside and inside the firm and assures investors who hope to commit their capital. Essential when buying stocks in one's own country, effective corporate governance is even more important abroad, where information can be less reliable and investor influence (or protection) more limited. In this collection of articles from the Journal of Applied Corporate Finance, more than thirty leading scholars and practitioners discuss the possibilities and limitations of global corporate finance and governance systems, whether in Europe and North America or in the emerging markets of Israel, India, Korea, and South Africa. Essays discuss the political roots of American corporate finance; the structural and financial variations between international corporations; control premiums and the effectiveness of corporate governance systems; debt, folklore, and cross-country differences in financial structures; the driving forces behind the East Asian Financial Crisis of 1997; corporate ownership and control in India, Germany, France, and the United Kingdom; financial and economic lessons of Italy's privatization program; changes in Korean corporate governance; sovereign wealth funds; and the new organization of Canadian business trusts. A special roundtable discussion addresses shareholder activism in the U.K.
Global Monetary Governance by Benjamin J. Cohen Pdf
Benjamin J. Cohen has been one of the most original and influential writers on international political economy. This book provides an overview of his contribution to the field, grouped around the central theme of global monetary governance. The book is divided into three sections: challenges to systemic governance - examines the challenge of governance of the international monetary system looking at such crucial issues as monetary reform, the growth of capital markets and financial globalization dealing with financial crisis – looks at efforts to deal effectively with financial crises, analyzing the relationships between governments and banks in the management of international debt problems and the case for capital controls. There are case studies of the Asian financial crisis and several other key instances of instability in world markets the new geography of money – analyzes the crisis of legitimacy created by a global system where governing authority is exercised now more by market forces than by sovereign states. It explores the geopolitical implications of the competition between the two most widely used currencies in the world today, the US dollar and the Euro and spells out the main implications for policy makers. The concluding chapters evaluate the merits and prospects for the two most widely discussed policy alternatives available to governments responsible for the world’s many less competitive currencies – dollarization or monetary union.
Encyclopedia of Global Environmental Governance and Politics by Philipp H. Pattberg,Fariborz Zelli Pdf
The Encyclopedia of Global Environmental Governance and Politics surveys the broad range of environmental and sustainability challenges in the emerging Anthropocene and scrutinizes available concepts, methodological tools, theories and approaches, as well as overlaps with adjunct fields of study. This comprehensive reference work, written by some of the most eminent academics in the field, contains 68 entries on numerous aspects across 7 thematic areas, including concepts and definitions; theories and methods; actors; institutions; issue-areas; cross-cutting questions; and overlaps with non-environmental fields. With this broad approach, the volume seeks to provide a pluralistic knowledge base of the research and practice of global environmental governance and politics in times of increased complexity and contestation. Providing its readers with a unique point of reference, as well as stimulus for further research, this Encyclopedia is an indispensable tool for anyone interested in the politics of the environment, particularly students, teachers and researchers.
Development Centre Studies Governance Culture and Development A Different Perspective on Corporate Governance by Meisel Nicolas Pdf
Drawing notably on the experience of France, this book examines whether good corporate governance generates national growth. It finds that it is a society's entire governance culture -- corporate and public governance together rather than either of them alone -- is what matters.
Governance, Growth and Global Leadership by Espen Moe Pdf
This study investigates the question of what allows certain nations to rise to industrial leadership; and why some retain that pre-eminence for so much longer than others. Adopting a Schumpeterian approach to national growth, it focuses on the ability of a country to adopt technological progress and human knowledge to effect its global economic and industrial position. By comparing the experiences of Britain, France, Germany, the US and Japan over a two-hundred year period, the study draws fascinating conclusions about the causes of economic growth and the reasons for its stagnation.
Author : Thomas G. Weiss,Rorden Wilkinson Publisher : Taylor & Francis Page : 949 pages File Size : 52,9 Mb Release : 2023-04-28 Category : Political Science ISBN : 9781000843392
International Organization and Global Governance by Thomas G. Weiss,Rorden Wilkinson Pdf
Completely revised and updated, this textbook continues to offer the most comprehensive resource available. Concise chapters from a diverse mix of established and emerging global scholars offer accessible, in-depth coverage of the history and theories of international organization and global governance and discussions of the full range of state, intergovernmental, and non-state actors. All chapters have been revised and rewritten to reflect the rapid development of world events, with new chapters added on: Chinese approaches to international organization and global governance The UN System The Global South Sustaining the Peace Queering International Organization and Global Governance Post-colonial Global Governance The Sustainable Development Goals The English School Inequality Migration Divided into seven parts woven together by a comprehensive introduction, along with separate introductions to each part and helpful pointers to further reading, International Organization and Global Governance provides a balanced, critical perspective that enables readers to comprehend more fully the role of myriad actors in the governance of global life.
The Encyclopedia of Governance provides a one-stop point of reference for the diverse and complex topics surrounding governance for the period between the collapse of the post-war consensus and the rise of neoliberal regimes in the 1970s. This comprehensive resource concentrates primarily on topics related to the changing nature and role of the state in recent times and the ways in which these roles have been conceptualized in the areas of Political Science, Public Administration, Political Economy, and Sociology.
