Governing The Global Economy International Finance And The State [Paperback]

A very readable account of efforts to regulate an increasingly liberalized world capital market since the mid-1970s breakdown of the 'Bretton Woods' system of international monetary arrangements.Kapstein's main point is that the world economy does not 'operate somewhere offshore.' It functions within the political framework provided by nation-states. Which should mean that their citizens have not lost all influence over it.With this timely and persuasive study, Kapstein establishes himself as one of our foremost authorities on the political economy of international banking. A judicious blend of theoretical insight and practical knowledge,Governing the Global Economyis essential reading for anyone concerned with the future operation and regulation of international financial markets.No area has become more global in its operations, more volatile, and thus more difficult to monitor and control than international banking. International banker and political economist Kapstein explores government action to cope with the economic and political consequences associated with the globalization of international finance.