The Goveance of Financialization in Latin America and East Asia:Empowering Expertise (RIPE Series in Global Political Economy)

by: Max Nagel (Author)
Edition:1st

Publication Date: 20 Oct. 2023

Language: English

Print Length: 230 pages

ISBN-10: 1032540370

ISBN-13: 9781032540375

Book Description

The Goveance of Financialization in Latin America and East Asia analyses how states in these areas have adopted different monetary, financial, and foreign exchange policies to gove financialization, which have induced varying levels of state control over financial markets.The book analyzes the puzzling observation of policy divergence by investigating how countries have reacted differently to major financial crises since the 1970s. It shows how Argentina and Japan selected a goveance approach to financialization that followed Weste prescriptions by propelling unregulated financialization; but also how Chile and South Korea, by contrast, crafted policies to reduce the negative effects of financialization on economic development and financial stability. The book identifies variegated expertise in central banks, ministries of finance, expert commissions, and research institutions that has informed policymaking across Argentina, Chile, Japan, and South Korea since the 1970s. It then demonstrates how govements have used experts to achieve diverse political objectives and explains how govements can use experts to enhance state agency to counter globalization pressures.This book will appeal to scholars of Inteational Political Economy, comparative politics, economics, sociology, development studies, and Latin American and East Asian history. It will also be of interest to economists and policymakers who want to safeguard financial stability and promote economic growth.