The international organization of credit : states and global finance in the world-economy / Randall D. Germain.

Format:

Book

Author/Creator:

Germain, Randall D., 1961- author.

Series:

Cambridge studies in international relations ; 57.

Cambridge studies in international relations ; 57

Language:

English

Subjects (All):

International economic relations.

International finance.

Physical Description:

1 online resource (xvi, 203 pages) : digital, PDF file(s).

Place of Publication:

Cambridge : Cambridge University Press, 1997.

Language Note:

English

Summary:

In this book, Randall Germain explores the international organization of credit in a changing world economy. At the centre of his analysis is the construction of successive international organisations of credit, built around principal financial centres (PFCs) and constituted by overlapping networks of credit institutions, mainly investment, commercial, and central banks. A critical historical approach to international political economy (IPE) allows Germain to stress both the multiple roles of finance within the world economy, and the centrality of financial practices and networks for the construction of monetary order. He argues that the private global credit system which replaced Bretton Woods is anchored unevenly across the world's three principal financial centres: New York, London, and Tokyo. This balance of power is irrevocably fragmented with respect to relations between states, and highly ambiguous in terms of how power is exercised between public authorities and private financial institutions.

Contents:

Routes to international political economy: accounting for international monetary order

The power of cities and their limits: principal financial centres and international monetary order

Between change and continuity: reconstructing "Bretton Woods"

The era of decentralized globalization

Decentralized globalization and the exercise of public authority

Finance, power, and the world-economy approach: towards an historical-institutional international political economy

Top merchant/investment banks, by city and era.

Notes:

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

Includes bibliographical references (p. 182-195) and index.

ISBN:

0-511-58540-3

0-511-00147-9