×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

States and the Reemergence of Global Finance: From Bretton Woods to the 1900s / Edition 1
     

States and the Reemergence of Global Finance: From Bretton Woods to the 1900s / Edition 1

by Eric Helleiner
 

See All Formats & Editions

ISBN-10: 0801483336

ISBN-13: 9780801483332

Pub. Date: 04/01/1996

Publisher: Cornell University Press

Most accounts explain the postwar globalization of financial markets as a product of unstoppable technological and market forces. Drawing on extensive historical research, Eric Helleiner provides the first comprehensive political history of the phenomenon, one that details and explains the central role played by states in permitting and encouraging financial

Overview

Most accounts explain the postwar globalization of financial markets as a product of unstoppable technological and market forces. Drawing on extensive historical research, Eric Helleiner provides the first comprehensive political history of the phenomenon, one that details and explains the central role played by states in permitting and encouraging financial globalization.

Helleiner begins by highlighting the commitment of advanced industrial states to a restrictive international financial order at the 1944 Bretton Woods conference and during the early postwar years. He then explains the growing political support for the globalization of financial markets after the late 1950s by analyzing five sets of episodes: the creation of the Euromarket in the 1960s, the rejection in the early 1970s of proposals to reregulate global financial markets, four aborted initiatives in the late 1970s and early 1980s to implement effective controls on financial movements, the extensive liberalization of capital controls in the 1980s, and the containment of international financial crises at three critical junctures in the 1970s and 1980s.

He shows that these developments resulted from various factors, including the unique hegemonic interests of the United States and Britain in finance, a competitive deregulation dynamic, ideological shifts, and the construction of a crisis-prevention regime among leading central bankers. In his conclusion Helleiner addresses the question of why states have increasingly embraced an open, liberal international financial order in an era of considerable trade protectionism.

Product Details

ISBN-13:
9780801483332
Publisher:
Cornell University Press
Publication date:
04/01/1996
Edition description:
REPRINT
Pages:
262
Sales rank:
1,162,828
Product dimensions:
6.00(w) x 9.00(h) x (d)

Table of Contents

1. Introduction

PART I: THE RESTRICTIVE BRETTON WOODS FINANCIAL ORDER
2. Bretton Woods and the Endorsement of Capital Controls
3. Continuing Caution: The Slow and Limited Move to Convertibility

PART II: THE REEMERGENCE OF GLOBAL FINANCE
4. Support for the Euromarket in the 1960s
5. Failed Cooperation in the Early 1970s
6. Four Turning Points in the Late 1970s and Early 1980s
7. The Liberalization Trend in the 1980s
8. Weathering International Financial Crises

PART III: CONCLUSION
9. Explaining Differing State Behavior in Trade and Finance

Works Cited
Index

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews