Transnational Financial Associations and the Governance of Global Finance: Assembling Wealth and Power

by Mckeen-Edwards; Heather

• ISBN13: 9780415659741
• ISBN10: 0415659744
• Edition: 1st
• Format: Nonspecific Binding
• Copyright: 2013-03-21
• Publisher: Routledge

Summary

It is widely acknowledged that the existing governance arrangements for preventing a recurrence of the 2007 global financial crisis are inadequate. This book makes an important contribution to addressing this issue by examining how power and governance in global finance are produced, sustained, and disrupted. Private financial actors are especially influential in the global political economy, including the emergence of global financial stability and crisis, and as such it is vital to have a more systemic understanding of private authority in global finance. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs), understanding them both as examples of the role of private authority in global governance, and for the specific role they play in the organization of global finance. Drawing on extensive empirical research, this book features chapters on the roles of TFA's in advocacy, making and contouring markets, and creating and serving a community of financial actors. The authors also address the diversity of TFA activity in finance globally by featuring case studies on Europe, the global south and TFAs that are motivated by social purposes, including Islamic finance, social investment, cooperative banking, and microfinancing. Making a distinctive and useful contribution to our understanding of global finance and global governance, this is an important book for students and scholars of international political economy, finance, global governance and international relations.