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Home > Catalog > Global Capital and National Governments
Global Capital and National Governments


  • 25 b/w illus. 40 tables
  • Page extent: 402 pages
  • Size: 228 x 152 mm
  • Weight: 0.59 kg
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 (ISBN-13: 9780521521628 | ISBN-10: 0521521629)

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$47.99 (P)

This book examines the degree to which international financial markets affect governments' policy choices. It provides empirical evidence as to whether financial globalization creates pressures on governments of developed and developing nations to pursue similar policies and to reduce spending on social policies. The book suggests that financial globalization does not lead to a "race to the bottom" among governments, especially in developed nations. It deploys several types of evidence; the most unique are interviews and surveys of investment fund managers. It also compares contemporary government-financial market relations to those prior to World War I.


1. National governments and global capital: a review and a recasting; 2. Financial market influence on government policy: theory and hypotheses; 3. Financial market influence in developed nations: a quantitative assessment; 4. Financial market-government relations in emerging economies; 5. Politics meets markets: domestic responses to financial market pressures; 6. Alternative domestic responses: changes to financial market-government relations; 7. History repeating itself? Financial markets and national government policies before the first World War; 8. Financial market-government relations in the twenty-first century.

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