"Matthew Watson’s book reaches beyond questions of international financial architecture, or critiques of homo economicus, to open up the black box of how financial markets actually work. This book is essential reading for all who wish to understand how processes of financial innovation, liberalisation, and socialisation are transforming the global financial order and introducing new forms of risk into our societies."--Leonard Seabrooke, International Center for Business and Politics, Copenhagen Business School, Denmark
Product Description
International capital mobility is a fundamental aspect of the political economy of globalization, and this study develops a new framework for understanding this crucial phenomenon. Matthew Watson draws a distinction between the spatial and the functional mobility of capital, allowing fresh insights into existing work on the subject whilst repoliticizing the very idea of capital being 'in motion'. The dynamics of capital mobility and the patterns of risk exposure are illustrated through four cases: the Asian financial crisis; the Tobin tax; the Enron affair; and the proposed consolidation of the European stock market.
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