Ruling Capital: Emerging Markets and the Reregulation of Cross-Border Finance

Ruling Capital: Emerging Markets and the Reregulation of Cross-Border Finance

by Kevin P. Gallagher
     
 

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Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level.See more details below

Overview

Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level.

Editorial Reviews

From the Publisher

"Kevin P. Gallagher is a warrior for emerging markets. He has traced this history of capital flows and how emerging markets tried to change the game through capital account management. His concept of countervailing monetary power is key to understanding how a multipolar international financial system is developing, as emerging markets struggle to defend themselves against volatile capital flows. This is a warrior's handbook on capital flows."—Andrew Sheng, Distinguished Fellow, Fung Global Institute

"In Ruling Capital, Kevin P. Gallagher provides an insightful and powerful economic and political economy analysis of how the case for and practice of cross-border capital account management has strengthened since the global financial crisis. At the same time, he shows in a powerful way how this advance has been constrained by U.S. policy and by the proliferation of Free Trade Agreements and Bilateral Investment Treaties. Ruling Capital is essential reading for scholars and policymakers alike."—José Antonio Ocampo, Columbia University, former Finance Minister of Colombia and former United Nations Under-Secretary General for Economic and Social Affairs

"Ruling Capital is a very good book that makes important contributions to the study of global finance. Kevin P. Gallagher's claims that the theory and practice of capital controls have been transformed are compelling and invite engagement."—Rawi Abdelal, Herbert F. Johnson Professor of International Management, Harvard Business School, author of National Purpose in the World Economy: Post-Soviet States in Comparative Perspective

Product Details

ISBN-13:
9780801453113
Publisher:
Cornell University Press
Publication date:
12/16/2014
Series:
Cornell Studies in Money Series
Pages:
232
Sales rank:
977,674
Product dimensions:
6.00(w) x 9.30(h) x 1.10(d)

Meet the Author

Kevin P. Gallagher is Associate Professor in the Frederick S. Pardee School of Global Studies and co-director of the Global Economic Governance Initiative at Boston University. He is the author of The Clash of Globalizations: Essays on the Political Economy of Trade and Development Policy and Free Trade and the Environment: Mexico, NAFTA, and Beyond and coauthor of The Dragon in the Room: China and the Future of Latin American Industrialization and The Enclave Economy: Foreign Investment and Sustainable Development in Mexico's Silicon Valley.

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