RULING CAPITAL: EMERGING MARKETS AND THE REREGULATION OF CROSS-BORDER FINANCE
Book ID/图书代码： 03360014B76289
English Summary/英文概要： In Ruling Capital, 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. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy.
Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.
Chinese Summary/中文概要： 在《资本的驾驭》中，Kevin P. Gallagher展示了几个新兴市场和发展中国家(EMDs)如何在全球金融危机之后设法重新监管跨境资金流动，尽管在国家层面上这样做存在政治和经济困难。Gallagher还表明一些新兴市场国家，特别是金砖国家联盟，能够在全球经济治理机构下维持或扩大其主权来监管跨境金融。Gallagher将计量经济学分析与对精选新兴市场官员和利益集团以及国际货币基金组织(imf)、世界贸易组织(wto)和20国集团(g20)政策制定者的深入访谈相结合，解释了全球经济的关键特征。Gallagher提出了一种货币力量对抗理论，展示了新兴市场如何能够对抗国内和国际上对跨境金融监管的竞争对手。
虽然许多国家能够在危机之后施加抵消性的货币力量，但这种力量不足以遏制继续困扰世界经济的不稳定资金流动的规模。根据这一理论，Gallagher概述了21世纪监管跨境金融的重大机遇和障碍。(Sandy)
Awards/获奖情况："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
About the Author/作者介绍： Kevin P. Gallagher is an associate professor at the Pardee School of Global Studies at Boston University, where he co-directs the Global Economic Governance Initiative. He is the author of Ruling Capital: Emerging Markets and the Reregulation of Cross-border Finance, The Dragon in the Room: China and the Future of Latin American Industrialization (with Roberto Porzecanski), The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley (with Lyuba Zarsky), and Free Trade and the Environment: Mexico, NAFTA, and Beyond. He has been the editor or co-editor for a number of books, including Putting Development First: the Importance of Policy Space in the WTO and IFIs, International Trade and Sustainable Development, and others. He writes regular columns on globalization and development for the Financial Times, the Guardian, Al-Jazeera, and the Globalist.
Format:
Rights Status/版权销售情况：Simplified Chinese/简体中文：AVAILABLE
Complex/Traditional Chinese/繁体中文：AVAILABLE
Sales in other countries/其他国家销售情况：
原文第一章内容：暂无
手稿：暂无
大纲：暂无