Power and Politics After Financial Crisises Rethinking Foreign Opportunism in Emerging Markets

, by Robertson, Justin

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ISBN: 9780230516977 | 0230516971
Cover: Hardcover
Copyright: 12/15/2007

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Summary

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In this book, contributors offer competing interpretations of the interaction between international and domestic forces after crises.

List of Tables and Figures	p. ix
List of Acronyms	p. xi
Preface	p. xiii
Notes on Contributors	p. xiv
Introduction: Key Theoretical Divides and Directions	p. 1
The foreign-domestic faultline in studying crisis outcomes	p. 2
Mixed patterns below the surface	p. 4
Major theoretical divides and directions	p. 6
A typology of analytic frameworks	p. 19
Conclusion	p. 27
International Actors and Issue Areas
Financial Crises and US Treasury Policy: The Institutional and Ideational Basis of American Capability	p. 31
The strong American power thesis	p. 32
The gaps and limitations of the strong American power thesis	p. 34
The institutional mandate and position of the US Treasury Department	p. 35
Ideology, knowledge and beliefs	p. 40
Treasury-private sector relations	p. 44
Resource scarcity	p. 48
Conclusions	p. 49
Crises as Catalysts for Foreign Bank Activity in Emerging Markets	p. 52
Introduction	p. 52
Trends in foreign bank participation	p. 53
Survey of the causes and implications of foreign bank participation	p. 58
Foreign bank participation and crises	p. 65
Conclusions	p. 79
Adaptable Agendas: Private Creditors and the Politics of Debt in Emerging Markets	p. 82
Restructuring sovereign debt: old process, new tools?	p. 83
Adaptable agendas	p. 88
Private interest and public success: the Argentine debt restructuring, 2001-2006	p. 91
Conclusion	p. 98
The Political Economy of International Financial Reform Since the Asian Crisis: The Case of Corporate Governance	p. 102
Introduction	p. 102
Understanding the NIFA	p. 103
The case of corporate governance	p. 107
Conclusion	p. 121
Country Studies
Argentina: State Capacity and Leverage in External Negotiations	p. 125
International and domestic factors affecting crisis and crisis resolution	p. 126
From strong neoliberal governance to state failure	p. 128
Restoring state capacity	p. 133
Augmenting state bargaining power with international actors	p. 137
A final note on state power, interests and governance	p. 141
Brazil: Mixed Impact of Financial Crises on Manufacturing and Financial Sectors	p. 144
Economic context and financial crises in Brazil	p. 145
Foreign penetration in the banking sector	p. 153
FDI in the manufacturing sector	p. 159
Conclusion	p. 165
Central Europe: Predatory Finance and the Financialization of the New European Periphery	p. 168
Banking in the Austro-Hungarian empire	p. 170
The politics of neoliberalism in Europe	p. 173
Banking strategies in the European Union	p. 176
Conclusions	p. 185
Indonesia and Malaysia: The Persistence of a Domestic Politico-Business Class	p. 187
The crisis in context	p. 188
Domestic opposition and the political economy of post-crisis reform	p. 197
Conclusions	p. 208
Russia: Limiting the Impact of Crisis in a Post-Communist Transitional Economy	p. 212
Introduction	p. 212
Soviet legacies, the national economy and Russia's relative economic isolation	p. 214
Russia's transnationalized economy and the state: shifting balances of power before and after 1998	p. 218
Crisis and the future	p. 224
Conclusion	p. 228
Turkey: Risk-Conscious Foreign Firms and a Maturing Domestic Banking Sector	p. 230
Qualifying concepts	p. 231
The Turkish case	p. 233
Financial crises leading to economic collapse	p. 235
Post-crisis developments	p. 239
Interlocking EU and IMF reforms	p. 241
How has the TBS fared?	p. 242
Future risks and challenges	p. 247
Conclusion	p. 250
Conclusion: Contesting the Return to State-Led Economies	p. 252
No closing to foreign investment	p. 253
Incremental foreign business penetration	p. 255
Argentina and Russia as exceptions?	p. 258
Looking to the future	p. 259
References	p. 261
Index	p. 286
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Power and Politics After Financial Crisises Rethinking Foreign Opportunism in Emerging Markets

Summary

Author Biography

Table of Contents

Supplemental Materials