| ID | 121594 |
| Title Proper | Political economy of global finance |
| Other Title Information | a network model |
| Language | ENG |
| Author | Oatley, Thomas ; Winecoff, W Kindred ; Pennock, Andrew ; Danzman, Sarah Bauerle |
| Publication | 2013. |
| Summary / Abstract (Note) | Although the subprime crisis regenerated interest in and stimulated debate about how to study the politics of global finance, it has not sparked the development of new approaches to International Political Economy (IPE), which remains firmly rooted in actor-centered models. We develop an alternative network-based approach that shifts the analytical focus to the relations between actors. We first depict the contemporary global financial system as a network, with a particular focus on its hierarchical structure. We then explore key characteristics of this global financial network, including how the hierarchic network structure shapes the dynamics of financial contagion and the source and persistence of power. Throughout, we strive to relate existing research to our network approach in order to highlight exactly where this approach accommodates, where it extends, and where it challenges existing knowledge generated by actor-centered models. We conclude by suggesting that a network approach enables us to construct a systemic IPE that is theoretically and empirically pluralist. |
| `In' analytical Note | Perspectives on Politics Vol. 11, No.1; Mar 2013: p.133-153 |
| Journal Source | Perspectives on Politics Vol. 11, No.1; Mar 2013: p.133-153 |
| Key Words | Subprime Crisis ; Global Finance ; International Political Economy ; Global Financial System |