The Euro, The Dollar and the Global Financial Crisis
This book analyses how financial elites in key dollar-holding emerging markets perceive the contest between the euro and the dollar for global currency status. It also assesses how far the Eurozone has gone in challenging US hegemony in monetary affairs through the prism of these elites.
Drawing on Chartalist and Constructivist theories of money, Otero-Iglesias provides a systematic approach to studying global currency dynamics and presents extensive original empirical data on financial elites in China, Saudi Arabia, the United Arab Emirates and Brazil. The author demonstrates, amongst other things, how the gradual ascendance of a structurally flawed currency such as the euro has highlighted the weaknesses of the dollar and how the euro has demonstrated that sovereignty sharing in monetary affairs is possible and that the international monetary system can be a multicurrency and multilateral system.
This highly innovative book shows the importance of studying financial elites in Brazil, China and the Gulf Cooperation Council countries in order to understand the full impact, material and ideational, of the euro in the transformation of the IMS. It will be vital reading for students and scholars of International Political Economy, International Economics, International Finance, Economic History, Economic Sociology, International Relations, Comparative Political Economy and Comparative Politics.
Miguel Otero-Iglesias is Senior Analyst on the European Economy and the Emerging Markets at the Elcano Royal Institute in Spain and Research Fellow in International Political Economy at the EU-Asia Institute at ESSCA School of Management in France.
RIPE SERIES IN GLOBAL POLITICAL ECONOMY
Series Editors: Jacqueline Best (University of Ottawa, Canada)
Ian Bruff (Manchester University, UK)
Paul Langley (Durham University, UK)
Anna Leander (Copenhagen Business School, Denmark)
Formerly edited by Leonard Seabrooke (Copenhagen Business School, Denmark), Randall Germain (Carleton University, Canada), Rorden Wilkinson (University of Manchester, UK), Otto Holman (University of Amsterdam), Marianne Marchand (Universidad de las Amricas-Puebla), Henk Overbeek (Free University, Amsterdam) and Marianne Franklin (Goldsmiths, University of London, UK)
The RIPE series editorial board are:
Mathias Albert (Bielefeld University, Germany), Mark Beeson (University of Birmingham, UK), A. Claire Cutler (University of Victoria, Canada), Marianne Franklin (Goldsmiths, University of London, UK), Randall Germain (Carleton University, Canada), Stephen Gill (York University, Canada), Jeffrey Hart (Indiana University, USA), Eric Helleiner (Trent University, Canada), Otto Holman (University of Amsterdam, the Netherlands), Marianne H. Marchand (Universidad de las Amricas-Puebla, Mexico), Craig N. Murphy (Wellesley College, USA), Robert OBrien (McMaster University, Canada), Henk Overbeek (Vrije Universiteit, the Netherlands), Anthony Payne (University of Sheffield, UK), V. Spike Peterson (University of Arizona, USA) and Rorden Wilkinson (University of Manchester, UK).
This series, published in association with the Review of International Political Economy, provides a forum for current and interdisciplinary debates in international political economy. The series aims to advance understanding of the key issues in the global political economy, and to present innovative analyses of emerging topics. The titles in the series focus on three broad themes:
the structures, processes and actors of contemporary global transformations;
the changing forms taken by governance, at scales from the local and everyday to the global and systemic;
the inseparability of economic from political, social and cultural questions, including resistance, dissent and social movements.
The RIPE Series in Global Political Economy aims to address the needs of students and teachers. Titles include:
Transnational Classes and International Relations
Kees van der Pijl
Globalization and Governance
Edited by Aseem Prakash and Jeffrey A. Hart
Nation-States and Money
The past, present and future of national currencies
Edited by Emily Gilbert and Eric Helleiner
Gender and Global Restructuring
Sightings, sites and resistances
Edited by Marianne H Marchand and Anne Sisson Runyan
The Global Political Economy of Intellectual Property Rights
The new enclosures?
Christopher May
Global Political Economy
Contemporary theories
Edited by Ronen Palan
Ideologies of Globalization
Contending visions of a new world order
Mark Rupert
The Clash within Civilisations
Coming to terms with cultural conflicts
Dieter Senghaas
Capitalist Restructuring, Globalisation and the Third Way
Lessons from the Swedish model
J. Magnus Ryner
Transnational Capitalism and the Struggle over European Integration
Bastiaan van Apeldoorn
World Financial Orders
An historical international political economy
Paul Langley
Global Unions?
Theory and strategies of organized labour in the global political economy
Edited by Jeffrey Harrod and Robert OBrien
Political Economy of a Plural World
Critical reflections on power, morals and civilizations
Robert Cox with Michael Schechter
The Changing Politics of Finance in Korea and Thailand
From deregulation to debacle
Xiaoke Zhang
Anti-Immigrantism in Western Democracies
Statecraft, desire and the politics of exclusion
Roxanne Lynn Doty
The Political Economy of European Employment
European integration and the transnationalization of the (un)employment question
Edited by Henk Overbeek
A Critical Rewriting of Global Political Economy
Integrating reproductive, productive and virtual economies
V. Spike Peterson
International trade and developing countries
Bargaining coalitions in the GATT & WTO
Amrita Narlikar
Rethinking Global Political Economy
Emerging issues, unfolding odysseys
Edited by Mary Ann Ttreault, Robert A. Denemark, Kenneth P. Thomas and Kurt Burch
Global Institutions and Development
Framing the world?
Edited by Morten Bs and Desmond McNeill
Contesting Globalization
Space and place in the world economy
Andr C. Drainville
The Southern Cone Model
The political economy of regional capitalist development in Latin America
Nicola Phillips
The Idea of Global Civil Society
Politics and ethics of a globalizing era
Edited by Randall D. Germain and Michael Kenny
Global Institutions, Marginalization, and Development
Craig N. Murphy
Governing Financial Globalization
International political economy and multi-level governance
Edited by Andrew Baker, David Hudson and Richard Woodward
Critical Theories, International Relations and the Anti-Globalisation Movement
The politics of global resistance
Edited by Catherine Eschle and Bice Maiguashca
Resisting Intellectual Property
Debora J. Halbert
Globalization, Governmentality, and Global Politics
