The Governance of Financialization in Latin America and East Asia: Empowering Expertise

The Governance of Financialization in Latin America and East Asia explores how states in these regions have adopted different monetary, financial, and foreign exchange policies to govern financialization, leading to varying levels of state control over financial markets. It investigates policy divergence by examining how countries responded to major financial crises since the 1970s and identifies expertise in central banks, ministries of finance, expert commissions, and research institutions that have informed policymaking. The book demonstrates how governments have used experts to achieve diverse political objectives and enhance state agency to counter globalization pressures.

Format: Hardback
Length: 210 pages
Publication date: 20 October 2023
Publisher: Taylor & Francis Ltd

The Governance of Financialization in Latin America and East Asia delves into the intricate dynamics of how states in these regions have implemented diverse monetary, financial, and foreign exchange policies to oversee the process of financialization, resulting in varying degrees of state control over financial markets. This comprehensive book explores the perplexing phenomenon of policy divergence by examining how countries have responded differently to major financial crises since the 1970s. It sheds light on how Argentina and Japan chose to pursue a governance approach to financialization that largely followed Western prescriptions, leading to the proliferation of unregulated financialization. At the same time, it showcases how Chile and South Korea, in contrast, crafted policies aimed at mitigating the negative impacts of financialization on economic development and financial stability.

The book identifies a diverse range of expertise held by central banks, ministries of finance, expert commissions, and research institutions in Argentina, Chile, Japan, and South Korea since the 1970s. It then demonstrates how governments have harnessed this expertise to achieve a variety of political objectives. Furthermore, it explores how governments can leverage experts to enhance their state agency and counter the forces of globalization.

This book is a valuable resource for scholars of International Political Economy, comparative politics, economics, sociology, development studies, and Latin American and East Asian history. It also holds appeal to economists and policymakers seeking to safeguard financial stability and promote economic growth. By examining the complex interplay between states, markets, and expertise, The Governance of Financialization in Latin America and East Asia provides valuable insights into the evolving landscape of financial governance and its implications for global economic development.

Weight: 590g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032540375