Geoffrey R. D. Underhill

Jasper Blom

Daniel Mügge

Early in the new millennium it appeared that a long period of financial crisis had come to an end, but the world now faces renewed and greater turmoil. This 2010 volume analyses the past three decades of global financial integration and governance and the recent collapse into crisis, offering a coherent and policy-relevant overview. State-of-the-art research from an interdisciplinary group of scholars illuminates the economic, political and social issues at the heart of devising an effective and legitimate financial system for the future. The chapters offer debate around a series of core themes which probe the ties between public and private actors and their consequences for outcomes for both developed markets and developing countries alike. The contributors argue that developing effective, legitimate financial governance requires enhancing public versus private authority through broader stakeholder representation, ensuring more acceptable policy outcomes.

From Reform to Crisis

Global Financial Integration Thirty Years On

Richard Stubbs

'How will global order unfold as we move into the next millennium?' With this basic question as a starting point, leading scholars in politics, economics, and international relations from ten different countries have written 33 chapters specially commissioned for this new second edition, which also includes introductory essays by the editors. Rapid change has become the norm in the international political economy. The relatively strong and surprisingly sustained performance of the NorthAmerican economies, the growing economic integration of the European Union, and the economic crises in Asia and Russia all attest to the increasing pace and apparent unpredictability of changes to the global economy. Political Economy and the Changing Global Order provides an authoritative introduction to these changes and to the theory and changing practice of international economic relations as the world enters the new millennium. The book ranges widely, covering developments at global, regional, and national levels, key issues and trends, and the changing policies of major state actors, as well as presenting a broad spectrum of theoretical perspectives. Particular emphasis is given to the role of the state in the international political economy, the increasing importance of non-state actors, and the growing influence of both public and private forms of transnational governance.

Geoffrey R. D. Underhill

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