Financial crisis management and the pursuit of power : American pre-eminence and the credit crunch / Mine Aysen Doyran.

Format:

Book

Author/Creator:

Doyran, Mine Aysen.

Series:

Global finance series

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

Economic history--21st century.

Economic history.

Globalization--Economic aspects.

Globalization.

Crisis management--United States.

Crisis management.

United States.

Physical Description:

249 pages : illustrations ; 24 cm.

Place of Publication:

Farnham, Surrey ; Burlington, VT : Ashgate, [2011]

Summary:

Doyran (economics, City U. of New York) explores the dynamic between state power and crisis management, specifically by examining US policy responses to three relatively financial crises that feature the US. Specifically, she looks at the 1998 US hedge fund collapse, the 2000-2002 high tech bubble and Enron scandal, and the recent home mortgage crisis with systematic failures in financial institutions (2007-2010). She looks at the systemic causes, the role of the state (first two "liberal lassez-faire" cases and then a "liberal interventionist") and crisis management arrangements. She takes issue with essentialist narratives of US hegemony in the post-war era and the Bretton Woods system, critically examining realist, liberal interventionist and marxist models, and additionally argues that post-1970 financial literature failed to detect the contradictions in the emerging international financial system. The book also rejects the state-centric view that financial stability requires a strongly interventionist state and argues that there is a trend of government regulatory interventions creating bigger crises that in turn demand bigger interventions, leading to excessive competitiveness and financial instability. To that end, she documents the trend of "financialization" in the US economy since the 1970s. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)

Contents:

Introduction

State power and crisis management : a political-economic approach

Domestic and international origins of the bubble economy : institutions, ideology, regulations

Russia-LTCM and Enron defaults : a new type of financial instability 1998-2002

Domestic politics of financial regulation in the post-Enron period

US financial crisis of 2007-2010 : the collapse of the shadow banking system

Post-crisis financial regulatory reform

International regulatory responses

Conclusion : hegemonic instability.

Notes:

Includes bibliographical references and index.

ISBN:

9781409400950

1409400956

9780754699927

0754699927

OCLC:

704907681