The International Organization of Credit by Randall D Germain

The International Organization of Credit by Randall D Germain

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Summary

Randall Germain explores the changing political economy of finance at the global level. He relates changes in global finance to wider changes in the organisation of the international economy, and considers how commercial and investment banks have responded institutionally to these changes.

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The International Organization of Credit by Randall D Germain

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.
'There is no doubt that The International Organization of Credit merits close attentionAnyone interested in the restructuring of relationships within the world economy, and particularly the power of finance, will find this a wide-ranging, innovative and thought-provoking contribution to, and construction of, both IPE as a discipline and the international political economy as everyday practice.' Adam David Morton, International Affairs
SKU Unavailable
ISBN 13 9780521598514
ISBN 10 0521598516
Title The International Organization of Credit
Author Randall D Germain
Series Cambridge Studies In International Relations
Condition Unavailable
Binding Type Paperback
Publisher Cambridge University Press
Year published 1997-10-13
Number of pages 224
Cover note Book picture is for illustrative purposes only, actual binding, cover or edition may vary.