The effective governance of global money and finance is under enormous stress. Deep changes over the last decade in capital markets, exchange rate systems, and government finances suggest dramatic shifts in the contours of monetary power, with tensions rising between the functional logic of international economics and the geographic logic of state-centered politics. Governing the World's Money assesses those tensions and the prospects for their peaceful resolution.
Governing the World's Money surveys the frontiers of the global monetary system in ten original essays. Leading scholars of international relations and economics explore the evolution of the instruments available to policy officials for monetary governance. As they analyze the contemporary reordering of political authority in a market-oriented global economy, they open new pathways for the study of regional monetary integration and international institutional reform.
"Brings together some of the best-known scholars in IPE today in order to discuss how international monetary relations may be effectively managed."
— Jennifer Sterling-Folker, University of Connecticut, Perspectives on Politics
"In addition to essays on the evolution of the Bretton Woods institutions, the book tackles two other topics: the extent and benefits of regional monetary integration and changes in institutions in response to the globalization of financial markets.... To its credit, the book takes a multidisciplinary approach, bringing together leading scholars in economics, political science, and international relations."
— George Iden, IMF, Finance and Development
"Governing the World's Money brings together work by excellent scholars. All the contributions are well-crafted, polished pieces. The quality is consistently high and some crucial points are made about the direction of International Political Economy research at the century's beginning."
— Jonathan Aronson, University of Southern California
"This volume is interdisciplinary research at its best. The contributors show how economics, history, and political science can be combined to shed light on the development of the international monetary system."
— Barry Eichengreen, University of California, Berkeley
About the Editors:
David M. Andrews is Professor of International Relations at Scripps College and Director of the European Union Center of California.
C. Randall Henning is Associate Professor in the School of International Service at American University and Visiting Fellow at the Institute for International Economics; among his previous books is Currencies and Politics in the United States, Germany and Japan.
Louis W. Pauly is Professor of Political Science and Director of the Centre for International Studies at the University of Toronto. He is the author of Who Elected the Bankers?: Surveillance and Control in the World Economy and Opening Financial Markets: Banking Politics on the Pacific Rim both from Cornell, and coauthor or coeditor of several other books, including Complex Sovereignty.