Room to Move: International Financial Markets and National Welfare States

@article{Mosley2000RoomTM,
  title={Room to Move: International Financial Markets and National Welfare States},
  author={Layna Mosley},
  journal={International Organization},
  year={2000},
  volume={54},
  pages={737 - 773}
}
  • L. Mosley
  • Published 1 September 2000
  • Economics, Political Science
  • International Organization
A central research question in international political economy concerns the influence of financial markets on government policy outcomes. To what extent does international capital mobility limit government policy choices? I evaluate the relationship between international financial markets and government policy outcomes, with a focus on the government bond market in developed democracies. Evidence includes interviews with financial market participants and a cross-sectional time-series analysis… 
Economic Policy, Institutions, and Capital Flows: Portfolio and Direct Investment Flows in Developing Countries
Scholars examining the cross-national mobility of capital have followed two distinct paths. Economists tend to focus on the determinants and economic effects of cross-country capital movements while
Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis
Since the creation of monetary union, European governments have received loans from the international financial markets at low interest rates. The recent sovereign debt crisis has, however, once more
New Currency, New Constraints? the Euro and Government-financial Market Relations
How does the advent of EMU affect the nature of financial market-government relations? I begin by reviewing the argument that developed-nation governments retain room to move in the face of financial
The Political Economy of Sovereign Borrowing: Explaining the Policy Choices of Highly Indebted Governments
In newly democratized and developing countries, political economy theory expects politicians to use budget defcits to engineer an election-timed boom, known as the political business cycle. In this
Elections, Policy Preferences and International Financial Market Constraints
Despite strong pressures from international nancial markets, political parties continue to propose policies that dier considerably. This article examines to what extent actual government policies
Domestic Economic Policies, Political Institutions, and Transnational Portfolio Investments
  • Xun Cao
  • Economics
    Business and Politics
  • 2009
For many, transnational capital is one of the most important driving forces of economic globalization; yet, we know little about what determines cross-border portfolio investments. In addition to
Global Capital and National Governments
1. National governments and global capital: a review and a recasting 2. Financial market influence on government policy: theory and hypotheses 3. Financial market influence in developed nations: a
The Political Economy of Sovereign Debt: Global Finance and Electoral Cycles
Political economy theory expects politicians to use budget deficits to engineer an election-timed boom, known as the political business cycle. We challenge and contextualize this view by
The Political Economy of Financial Markets
The relationship between politics and financial markets is central for many, if not most, political economy arguments. The existing literature focuses on the effect of domestic and international
Is rationalist institutionalism correct? Markets and domestic structures in the 1992/93 ERM crisis.
This thesis investigates the influence of domestic institutional structures on international financial market sentiment during financial crises. It asks whether rationalist institutionalism is
...
...

References

SHOWING 1-10 OF 161 REFERENCES
Invested interests: the politics of national economic policies in a world of global finance
Capital moves more rapidly across national borders now than it has in at least fifty years and perhaps in history. This article examines the effects of capital mobility on different groups in
Funding the Welfare State: Globalization and the Taxation of Business in Advanced Market Economies
Theorists assert that international capital mobility creates substantial pressure for all democratically elected governments to decrease tax burdens on business. I explicate and critique the general
The dynamics of financial globalization: Technology, market structure, and policy response
  • P. Cerny
  • Economics, Political Science
  • 1994
The development of increasingly transnationalized (‘globalized’) financial markets raises several key issues for the analysis of politics, public policy, and the national state. This article suggests
Political Markets, Bond Markets, and the Effects of Uncertainty: A Cross-National Analysis
One of the critical challenges of contemporary democracy is securing a balance between the markets of representation and the markets of exchange and capital within democracies. This article explores
Capital mobility, trade, and the domestic politics of economic policy
The conventional wisdom about the domestic political effects of economic internationalization in recent decades is overdrawn and too simple. Increasing exposure to trade and capital mobility has not
Global Markets and National Politics: Collision Course or Virtuous Circle?
Increasing exposure to trade, foreign direct investment, and liquid capital mobility have not prompted a pervasive policy race to the neoliberal bottom among the OECD countries. One reason is that
Political responses to interdependence: what's “left” for the left?
Heightened economic interdependence in recent years is commonly argued to have generated great pressures for convergence in economic policies across the advanced industrial democracies.
Political Parties and the Supply Side of the Economy: The Provision of Physical and Human Capital in Advanced Economies, 1960-90
Theory: Partisan tenure of government (in contrast to institutionalist and structural approaches) is used to explain the nature of governmental strategies to affect the supply side of the economy-the
Political Cycles and the Macroeconomy
The relationship between political and economic cycles is one of the most widely studied topics in political economics. This book examines how electoral laws, the timing of elections, the ideological
A Cross-National Analysis of Economic Voting: Taking Account of the Political Context
A large literature has demonstrated that such economic factors as growth, inflation, and unemployment affect the popularity of incumbents within many democratic countries. However, cross-national
...
...