Debating the Global Financial Architecture

Leslie Elliott Armijo is Visiting Scholar at Reed College and the editor of Financial Globalization and Democracy in Emerging Markets.

"In Debating the Global Financial Architecture, a dozen distinguished political scientists and economists assess the state of the contemporary international financial system. They eschew facile policy recommendations in favor of serious analyses of global financial relations, and of the broad implications of the reform proposals policymakers have been wrestling with. The book contains an intelligent and integrated set of essays that will be of interest to all those who want a better understanding of current international financial policy debates." — Jeffry A. Frieden, Harvard University"The debate over the international financial architecture has been contentious, ranging from those who would abolish the International Monetary Fund in the name of free markets to advocates of capital controls. This excellent volume gathers a prestigious and well-balanced group of economists and political scientists to review the issues, including regional perspectives from Latin America, Europe and Asia. Timely and useful." — Stephan Haggard, University of California, San Diego

• Acknowledgments Tables Introduction I. Core Questions and Mental Categories 1. The Terms of the Debate: What's Democracy Got to Do with It?Leslie Elliott Armijo II. Leadership and the Politics of Global Finance 2. Global Financial Architecture and Hegemonic Leadership in the New MillenniumMark R. Brawley 3. Capital Controls: Why Do Governments Hesitate?Benjamin J. Cohen 4. Reforming the International Financial Institutions: Dueling Experts in the United StatesC. Fred Bergsten III. Stability, Equity, and the Economics of Global Finance 5. The Economic Case against Free Capital MobilityDavid Felix 6. The Redesign of the International Financial Architecture from a Latin American Perspective: Who Pays the Bill?Eduardo Fernández-Arias and Ricardo Hausmann 7. Reform Proposals from Developing Asia: Finding a Win-Win StrategyAshima Goyal IV. The Conundrum of Multilateral Reform 8. Japan and the New Financial Order in East Asia: From Competition to CooperationHenry Laurence 9. Reform without Representation? The International and Transnational Dialogue on the Global Financial ArchitectureTony Porter and Duncan Wood 10. The European Monetary Union as a Response to GlobalizationErik Jones Afterword: Of Bubbles and Buildings: Financial Architecture in a Liberal Democratic EraLaurence Whitehead Contributors List of Titles, SUNY series in Global Politics Index