Kevin P. Gallagher - Böcker

In less than a quarter century, China has gone from one of the poorest to one of the largest economies in the world. As China grew from a rural economy to the largest industrial powerhouse since the Industrial Revolution, it demanded more and more steel for factories and new cities, copper for electronic wires, petroleum for cars and manufacturing plants, and soybeans to feed people and cattle in a country with an increasing standard of living and diversified diet. Many Latin American countries rode China's coattails and prospered. From the turn of the century when China entered the World Trade Organization until 2013, Latin America served as a strategic location that supplied China with these primary commodities and more, allowing it to log one of the region's most impressive periods of economic growth in a fifty years. In The China Triangle, Boston University political economist Kevin P. Gallagher argues that Latin American nations have little to show for riding the coattails of the "China Boom" and now face significant challenges for the next decades as China's economy slows down and transforms itself in a variety of ways. While the region saw significant economic growth due to China's rise over the past decades, Latin Americans saved very little of the windfall profits it earned while the region saw a significant hollowing of its industrial base. What is more, commodity-led growth during the China boom reignited social and environmental conflicts across the region.Scholars and reporters have covered the Chinese expansion into East Asia, Southeast Asia, Australasia, Africa, the US, and Europe. Yet China's penetration Latin America is as little understood as it is significant. Gallagher provides a clear overview of China's growing economic ties with Latin America and points to ways that Latin American nations, China, and even the United States can act in order to make the next decades of China-Latin America economic activity more prosperous for all involved.

This book explores what development banks, governments, and communities have learned in the last decade of careful negotiation between social and environmental protections in the Andean Amazon, and the pressures of a surging infrastructure and development boom. While mega-dams, highways, and ports are filling up the pipelines of planners, the national governments of Andean and Amazon-basin countries and major development banks have enacted ambitious social and environmental protections. The book traces the development of social and environmental protections after years of struggle by affected communities, going beyond official policies to discover how these reforms work in practice, and ultimately whether they are enough to stem the risks of infrastructure mega-projects. As Chinese public banks play an increasingly important role in the region, the book also demonstrates that there is a risk of governments undercutting their own standards. By contrast, this book shows that making infrastructure work for everyone involved requires mutually reinforcing networks of support and accountability among communities, governments, and development banks. This book, led by an expert multi-disciplinary, international team, will be of considerable interest to researchers in the fields of development and development economics, geography, anthropology, and ecology, as well as practitioners in development banks and in government regulatory and foreign aid agencies.

This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.

This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.

In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.

Free Trade and the Environment examines the impact economic integration has on the environment, using Mexico, which transformed itself from one of the most closed economies to one of the world's most open, as a case study. As new nations join the Free Trade Area of the Americas or the World Trade Organization, they are considering the path taken by Mexico nearly 20 years ago. The author investigates two commonly held and opposing beliefs in the policy community about the impact of free trade on the environment. While some believe that free trade will raise incomes in developing countries, thus encouraging governments to protect the environment, others argue that free trade simply provides an incentive for heavily polluting industries to move to developing countries with lax environmental regulations. The author shows that for Mexico in fact neither position is correct, and concludes with suggestions for free trade policies that couple environmental benefits with economic integration.

Free Trade and the Environment examines the impact economic integration has on the environment, using Mexico, which transformed itself from one of the most closed economies to one of the world's most open, as a case study. As new nations join the Free Trade Area of the Americas or the World Trade Organization, they are considering the path taken by Mexico nearly 20 years ago. The author investigates two commonly held and opposing beliefs in the policy community about the impact of free trade on the environment. While some believe that free trade will raise incomes in developing countries, thus encouraging governments to protect the environment, others argue that free trade simply provides an incentive for heavily polluting industries to move to developing countries with lax environmental regulations. The author shows that for Mexico in fact neither position is correct, and concludes with suggestions for free trade policies that couple environmental benefits with economic integration.

Collecting and synthesizing a series of essays on the political economy of trade and development policy, this book explores the following research questions: to what extent is the global trading regime reducing the ability of nation-states to pursue policies for financial stability and economic growth; and what political factors explain such changes in policy space over time, across different types of trade treaties and across nations? Gallagher presents intriguing findings on the policy constraints on the Uruguay Round, as well as the significant restrictions that the USA places upon the ability of developing nations to deploy a range of development strategies for stability and growth. Analyzing the factors that have led to twenty-first-century trade politics being characterized by a “clash of globalizations,” this volume explores the role of economic power, institutional structure, domestic politics, currency fluctuations and ideas about globalization in effecting changes to global trade policies.

This Element examines China's evolving relations with the Bretton Woods institutions (BWIs), specifically the International Monetary Fund and the World Bank Group from the 1980s through 2025. Using a combination of new qualitative findings and quantitative datasets, the authors observe that China has taken an evolving approach to the BWIs in order to achieve its multiple agendas, acting largely as a 'rule-taker' during its first two decades as a member, but, over time, also becoming a 'rule-shaker' inside the BWIs, and ultimately a new 'rule-maker' outside of the BWIs. The analysis highlights China's exercise of 'two-way countervailing power' with one foot inside the BWIs, and another outside, and pushing for changes in both directions. China's interventions have resulted in BWs reforms and the gradual transformation of the global order, while also generating counter-reactions especially from the United States. This title is also available as Open Access on Cambridge Core.

This Element examines China's evolving relations with the Bretton Woods institutions (BWIs), specifically the International Monetary Fund and the World Bank Group from the 1980s through 2025. Using a combination of new qualitative findings and quantitative datasets, the authors observe that China has taken an evolving approach to the BWIs in order to achieve its multiple agendas, acting largely as a 'rule-taker' during its first two decades as a member, but, over time, also becoming a 'rule-shaker' inside the BWIs, and ultimately a new 'rule-maker' outside of the BWIs. The analysis highlights China's exercise of 'two-way countervailing power' with one foot inside the BWIs, and another outside, and pushing for changes in both directions. China's interventions have resulted in BWs reforms and the gradual transformation of the global order, while also generating counter-reactions especially from the United States. This title is also available as Open Access on Cambridge Core.

This book explores what development banks, governments, and communities have learned in the last decade of careful negotiation between social and environmental protections in the Andean Amazon, and the pressures of a surging infrastructure and development boom. While mega-dams, highways, and ports are filling up the pipelines of planners, the national governments of Andean and Amazon-basin countries and major development banks have enacted ambitious social and environmental protections. The book traces the development of social and environmental protections after years of struggle by affected communities, going beyond official policies to discover how these reforms work in practice, and ultimately whether they are enough to stem the risks of infrastructure mega-projects. As Chinese public banks play an increasingly important role in the region, the book also demonstrates that there is a risk of governments undercutting their own standards. By contrast, this book shows that making infrastructure work for everyone involved requires mutually reinforcing networks of support and accountability among communities, governments, and development banks. This book, led by an expert multi-disciplinary, international team, will be of considerable interest to researchers in the fields of development and development economics, geography, anthropology, and ecology, as well as practitioners in development banks and in government regulatory and foreign aid agencies.

Southern-Led Development Finance examines some of the innovative new south-south financial arrangements and institutions that have emerged in recent years, as countries from the Global South seek to transform their economies and to shield themselves from global economic turbulence. Even before the Covid-19 crisis, it was clear to many that the global economy needed a reset and a massive increase in public investment. In the last decade southern-owned development banks, infrastructure funds, foreign exchange reserve funds and Sovereign Wealth Funds have doubled the amount of long-term finance available to developing countries. Now, as the world considers what a post-Covid-19 future will look like, it is clear that Southern-led institutions will do much of the heavy lifting. This book brings together insights from theory and practice, incorporating the voices of bankers, policymakers and practitioners alongside international academics. It covers the most significant new initiatives stemming from Asia, tried and tested examples in Latin America and in Africa, and the contribution of advanced economies. Whilst the book highlights the potential for Southern-led initiatives to change the global financial landscape profoundly, it also shows their varied impacts and concludes that more is needed for development than just the technical availability of funds.As governments and businesses become frustrated by the traditional North-dominated mechanisms and international financial system, this book argues that southern-led development finance will play an important role in the search for more inclusive, equitable and sustainable patterns of investment, trade and growth in the post-Covid landscape. It will be of interest to practitioners, policy makers, researchers and students working on development and finance everywhere.

Southern-Led Development Finance examines some of the innovative new south-south financial arrangements and institutions that have emerged in recent years, as countries from the Global South seek to transform their economies and to shield themselves from global economic turbulence. Even before the Covid-19 crisis, it was clear to many that the global economy needed a reset and a massive increase in public investment. In the last decade southern-owned development banks, infrastructure funds, foreign exchange reserve funds and Sovereign Wealth Funds have doubled the amount of long-term finance available to developing countries. Now, as the world considers what a post-Covid-19 future will look like, it is clear that Southern-led institutions will do much of the heavy lifting. This book brings together insights from theory and practice, incorporating the voices of bankers, policymakers and practitioners alongside international academics. It covers the most significant new initiatives stemming from Asia, tried and tested examples in Latin America and in Africa, and the contribution of advanced economies. Whilst the book highlights the potential for Southern-led initiatives to change the global financial landscape profoundly, it also shows their varied impacts and concludes that more is needed for development than just the technical availability of funds.As governments and businesses become frustrated by the traditional North-dominated mechanisms and international financial system, this book argues that southern-led development finance will play an important role in the search for more inclusive, equitable and sustainable patterns of investment, trade and growth in the post-Covid landscape. It will be of interest to practitioners, policy makers, researchers and students working on development and finance everywhere.

After the 2008–9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the global economic situation, marred by inequality, volatility, and climate breakdown, remains dysfunctional.Now, the economic fallout from the Covid-19 pandemic offers us a second chance. Kevin Gallagher and Richard Kozul-Wright argue that we must grasp it by implementing sweeping reforms to how we govern global money, finance, and trade. Without global leaders prepared to boldly rewrite the rules to promote a prosperous, just, and sustainable post-Covid world economic order – a Bretton Woods moment for the twenty-first century – we risk being engulfed by climate chaos and political dysfunction.This book provides a blueprint for change that no one interested in the future of our planet can afford to miss.

After the 2008–9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the global economic situation, marred by inequality, volatility, and climate breakdown, remains dysfunctional.Now, the economic fallout from the Covid-19 pandemic offers us a second chance. Kevin Gallagher and Richard Kozul-Wright argue that we must grasp it by implementing sweeping reforms to how we govern global money, finance, and trade. Without global leaders prepared to boldly rewrite the rules to promote a prosperous, just, and sustainable post-Covid world economic order – a Bretton Woods moment for the twenty-first century – we risk being engulfed by climate chaos and political dysfunction.This book provides a blueprint for change that no one interested in the future of our planet can afford to miss.

Collecting and synthesizing a series of essays on the political economy of trade and development policy, this book explores the following research questions: to what extent is the global trading regime reducing the ability of nation-states to pursue policies for financial stability and economic growth; and what political factors explain such changes in policy space over time, across different types of trade treaties and across nations? Gallagher presents intriguing findings on the policy constraints on the Uruguay Round, as well as the significant restrictions that the USA places upon the ability of developing nations to deploy a range of development strategies for stability and growth. Analyzing the factors that have led to twenty-first-century trade politics being characterized by a “clash of globalizations,” this volume explores the role of economic power, institutional structure, domestic politics, currency fluctuations and ideas about globalization in effecting changes to global trade policies.

Some of the world's most prominent development thinkers address the following question in this volume: to what extent are the rules and economic forces that govern the global economy shrinking the 'policy space' that developing countries can draw from in order to construct policies to raise the standards of living of their people? They then analyse the possibly considerable room for manoeuvre that developing countries still have at their disposal despite global macro-economic realities, IMF/World Bank policies, and the trade rules regime of the World Trade Organization. Finally, the authors suggest actual policies that could be put in place in order to preserve existing spaces for development and to expand the tools developing countries can deploy.

Consisting of country case studies and comparative analyses from Latin American and US based political economists, this volume examines the recent history of foreign investment for development in Latin America in the context of the current backlash against ‘Washington Consensus’ policies. These essays form the broad conclusion that foreign direct investment fell far short of generating the necessary linkages for sustainable economic development.

Consisting of country case studies and comparative analyses from Latin American and US based political economists, this volume examines the recent history of foreign investment for development in Latin America in the context of the current backlash against ‘Washington Consensus’ policies. These essays form the broad conclusion that foreign direct investment fell far short of generating the necessary linkages for sustainable economic development.

In this comprehensive reference work, Kevin Gallagher has compiled a fresh and broad-ranging collection of expert voices commenting on the interdisciplinary field of trade and the environment. For over two decades policymakers and scholars have been struggling to understand the relationship between international trade in a globalizing world and its effects on the natural environment. The authors in this Handbook provide the tools to do just that.The editor's well-worked introduction synthesizes the emerging themes of the collection, which is divided into three sections: trade and environmental quality, trade and environmental politics, and trade and environmental policy. Topics include the extent to which trade liberalization creates 'pollution havens' where dirty industries flock to poorer countries with lax environmental standards, and conversely, how multinational corporations bring 'cleaner' environmental technologies to developing countries when they choose to move abroad. The volume also addresses the extent to which national environmental policy and/or global environmental agreements clash with the emerging rules of the World Trade Organization and whether such environmental policies hinder export competitiveness. Finally, numerous political economy analyses of the complex political coalitions that arise to adapt to and mitigate changes in trade and environmental policy are provided. In addition to broader overviews of the field, in-depth case studies of nations and regions are offered, including the United States, the European Union, China, India and Mexico as well East Asia, Latin America, and Africa.The volume will serve as a guide for scholars new to the field as well as students and policy-makers needing a quick reference to the research on the interface between trade and the environment.

Globalization and increasing international trade are becoming a fact of life, bringing increasing tensions and conflicts over their impacts on societies, livelihoods and the environment. The impacts are felt in industrialized countries but are often most harsh in developing economies. The growing debate involves not only professional economists and lawyers, but a broad range of academic disciplines as well as civil society and citizens' groups around the world. This text presents the most important contributions to the debate, and to the understanding of how sustainable international trade could be achieved. It should provide a useful sourcebook and guide to academics, practitioners and activists involved with these issues.

This book shows how regional cooperation and integration have increased massively in scale and scope in recent years, as developing countries seek new ways to shield themselves from economic turbulence and to kick-start their economies in the face of stagnant global demand.