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The International Organization of Credit : States and Global Finance in the World-Economy - Randall D. Germain

The International Organization of Credit

States and Global Finance in the World-Economy

Hardcover Published: 13th October 1997
ISBN: 9780521591423
Number Of Pages: 224

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In this book, Randall Germain explores the international organization of credit in a changing world economy. At the center of his analysis is the construction of successive international organizations of credit, built around principal financial centers (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 has replaced Bretton Woods is anchored unevenly across the world's three principal financial centers: New York, London, and Tokyo. This new 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. Germain's analysis thus suggests that we are living in a period of fragile international monetary order.

'There is no doubt that The International Organization of Credit merits close attention. Anyone 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

List of figures and tables
Preface
Note on figures and tables
Glossary
Routes to international political economy: accounting for international monetary order
The International Organization of Credit in Historical Perspective
The power of cities and their limits: principal financial centres and international monetary order
Between change and continuity: reconstructing âÇ Bretton WoodsâÇÖ
The Contemporary International Organization of Credit
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
Appendix: top merchant/investment banks, by city and era
References
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521591423
ISBN-10: 0521591422
Series: Cambridge Studies in International Relations
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 224
Published: 13th October 1997
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 1.6
Weight (kg): 0.5