[...]... framework for the management of the economy at the global level abound in the wake of the great recession of 2007–9 It is not clear, however, whether the crisis at the end of the first decade of the twenty-first century will lead to major changes in the existent system of regulation Does it represent a crisis of multilateralism or, through the evolution of the G20 process, the evolution of a new stage of multilateralism?... Professor of International Relations at Boston University where he coordinates the Global Development Policy program He is also co-editor of the Review of International Political Economy Andrew Gamble is Professor of Politics and Head of the Department of Politics and International Studies at the University of Cambridge He is the author of The Spectre at the Feast Wyn Grant is Professor of Politics at the. .. University of Warwick His research focuses on the politics of global finance and theories of global governance He is the author of The New Masters of Capital: American Bond Rating Agencies and the Politics of Creditworthiness (2005) Graham Wilson is Professor and Chair, Department of Political Science, Boston University He previously taught at the Universities of Wisconsin–Madison and Essex He is co-editor of. .. reproduction and distribution of the work, in any medium, provided the original work is not altered or transformed in any way, and that the work is properly cited For commercial re-use, please contact academic.permissions@oup.com The Theory and Practice of Global Economic Governance overdevelopment of the global economy has been accompanied by the underdevelopment of the global polity The integration of the global. .. narrower zone without the “Club Med” countries Nevertheless, the return of competitive devaluation would undermine the single market which, although still imperfect, has been the single greatest economic policy achievement of the EU Both the origins and consequences of the GFC were indeed global The triggering event for the crisis was the bankruptcy of Lehman Brothers and the refusal of the US authorities... way, and that the work is properly cited For commercial re-use, please contact academic.permissions@oup.com The Theory and Practice of Global Economic Governance The reemergence of Russia and the rise of China and India especially are dramatically changing our understandings of global power This is not to assume, however, that the flattening out of global relationships, especially between China and the. .. of the Global Financial Crisis and markets in the evolution of the international economy, and the institutions that have sought to manage it, for the last sixty years Since the GFC of 2008, the institutions which manage the global economy have sought, fitfully at least, to show greater coherence and sense of purpose and develop a greater sense of legitimacy in the eyes of both ordinary people and national... internationally dominant when the GFC hit As Morgan notes in his chapter, the degree of profitability of the financial sector in the years between 2002 and 2007 created a coalition of insiders to the industry, supporters of free markets inside the economics profession and the regulatory bodies, and governments content with the tax taken from these rich institutions and individuals The dominance of the neoliberal,... University of Warwick and Vice-President for Europe and Africa of the International Political Science Association He is co-editor of OUP’s Handbook of Business and Government William W Grimes is a Professor of International Relations and Political Science at Boston University He is the author of Unmaking the Japanese Miracle: Macroeconomic Politics, 1985–2000 (2001) and Currency and Contest in East Asia: The. .. explain the origins of the crisis although several of the contributions have implicit or explicit explanations embedded in them Instead, we seek to examine the impact of the GFC on nation-states and their policies and international financial arrangements The impact of the GFC can be studied from a variety of perspectives Economists could assess the impact in terms of lost employment, production, and in . Studies at the University of Cambridge. He is the author of The Spectre at the Feast. Wyn Grant is Professor of Politics at the University of Warwick and Vice-President for Europe and Africa of the. way, and that the work is properly cited. For commercial re-use, please contact academic.permissions@oup.com The Consequences of the Global Financial Crisis The Rhetoric of Reform and Regulation Edited. coordinates the Global Development Policy program. He is also co-editor of the Review of International Political Economy. Andrew Gamble is Professor of Politics and Head of the Department of Politics and International