Global capital and national governments / Layna Mosley.

Format:

Book

Author/Creator:

Mosley, Layna, author.

Series:

Cambridge studies in comparative politics.

Cambridge studies in comparative politics

Language:

English

Subjects (All):

Capital market--Government policy.

Capital market.

Finance--Government policy.

Finance.

International finance--Government policy.

International finance.

Physical Description:

1 online resource (xviii, 379 pages) : digital, PDF file(s).

Other Title:

Global Capital & National Governments

Place of Publication:

Cambridge : Cambridge University Press, 2003.

Language Note:

English

Summary:

Global Capital and National Governments suggests that international financial integration does not mean the end of social democratic welfare policies. Capital market openness allows participants to react swiftly and severely to government policy; but in the developed world, capital market participants consider only a few government policies when making decisions. Governments that conform to capital market pressures in macroeconomic areas remain relatively unconstrained in supply-side and micro-economic policy areas. Therefore, despite financial globalization, cross-national policy divergence among advanced democracies remains likely. Still, in the developing world, the influence of financial markets on government policy autonomy is more pronounced. The risk of default renders market participants willing to consider a range of government policies in investment decisions. This inference, however, must be tempered with awareness that governments retain choice. As evidence for its conclusions, Global Capital and National Governments draws on interviews with fund managers, quantitative analyses, and archival investment banking materials.

Contents:

1. National Governments and Global Capital: A Recasting

2. Financial Market Influence on Government Policy: Theory and Hypotheses

3. Financial Market Influence in Developed Nations: An Empirical Assessment

4. Financial Market-Government Relations In Emerging Markets

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

App. 2.1. Financial Market Interviews

App. 3.1. Data Definitions And Sources

App. 3.2. Full Results For Macroindicators Model

App. 4.1. The Components of The SDDS

App. 4.2. Rating Agency Methodologies

App. 4.3. Rating Agency Outcomes, 1997

App. 6.1. Nations in Capital Controls Data Set.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references and index.

ISBN:

1-139-80980-6

1-107-31706-1

0-511-61567-1

1-107-32149-2

0-511-88904-6

1-107-31610-3

1-299-31877-0

1-107-31512-3