Money Power and Financial Capital in Emerging Markets: Facing the Liquidity Tsunami

Description

This book provides a comprehensive investigation of the messy and crisis-ridden relationship between the operations of capitalist finance, global capital flows, and state power in emerging markets. The politics, drivers of emergence, and diversity of these myriad forms of state power are explored in light of the positionality of emerging markets within the network of space and power relations that characterises contemporary global finance. The book develops a multi-disciplinary perspective and combines insights from Marxist political economy, post-Keynesian economics, economic geography, and postcolonial and feminist International Political Economy. Alami comprehensively reviews the theories, histories, and geographies of cross-border finance management, and develops a conceptual framework which allows unpacking the complex entanglement of constraint and opportunities, of growing integration and tight discipline, that cross-border finance represents for emerging markets. Extensive fieldwork research provides an in-depth comparative critical interrogation of the policies and regulations deployed in Brazil and South Africa. This volume will be especially useful to those researching and working in the areas of international political economy, contemporary geographies of money and finance, and critical development studies. It should also prove of interest to policy makers, practitioners, and activists concerned with the relation between finance and development in emerging markets and beyond. Cover Half Title Series Title Copyright Dedication Contents List of figures List of tables Acknowledgements List of abbreviations Introduction: Emerging markets in a world awash with liquidity Part 1 Theory, history, and geography 1 Managing cross-border finance: key theoretical debates and policy prescriptions 2 The politics of managing cross-border finance in emerging markets 3 Conceptualising cross-border finance management 4 The specificity of cross-border finance management in emerging markets Part 2 Case studies 5 Capitalist development and cross-border finance in Brazil 6 Capitalist development and cross-border finance in South Africa 7 Class relations and post-crisis financial vulnerability in Brazil and South Africa 8 The uneven formulation of cross-border financial policies in Brazil and South Africa Part 3 Towards a unified theory 9 Continuity, change, and diversity in cross-border finance management 10 Postcolonial landscapes of cross-border finance management in emerging economies Conclusion: Money-power in ‘Third World countries with First World financial systems’ Appendix Index