Global Monetary Governance
Routledge – 2008 – 340 pages
Benjamin J. Cohen has been one of the most original and influential writers on international political economy. This book provides an overview of his contribution to the field, grouped around the central theme of global monetary governance.
The book is divided into three sections:
The concluding chapters evaluate the merits and prospects for the two most widely discussed policy alternatives available to governments responsible for the world’s many less competitive currencies – dollarization or monetary union.
'Benjamin J. Cohen was present at the creation of International Political Economy and as its most prolific scholar has done much to influence the subsequent course of this subject. This collection of essays provides an indispensable overview of his work on the politics of international money and finance, but more than this, it offers a compelling assessment of the causes and consequences of the rise of global capital markets. Essential reading for all students of global monetary and financial affairs.' - Andrew Walter, Senior Lecturer in International Political Economy at the London School of Economics, UK
"Global Monetary Governance is the greatest hits album IPE students and scholars will line up around the block to get a copy of. Four decades of the best of Cohen – this collection brings together many of his important contributions on the politics of international monetary and finance." - Jonathan Kirshner, Professor of Government at Cornell University, USA
"Since the 1970s, Benjamin Cohen has written some of the most important and influential work on the political economy of international money and finance. This collection very usefully brings together many of his most outstanding contributions in one place. Cohen's work stands out not just for its analytical innovation and rigor. He also has a unique gift for explaining even the most complex subjects in an interesting and accessible manner. For anyone working in this field, this collection should be required reading." - Eric Helleiner, CIGI Chair in International Governance, University of Waterloo, Canada
'Global Monetary Governance represents a useful collection of both classic and new material…the essays in this volume cover an impressive swath of the post-Bretton Woods era, providing a useful hisotry of monetary relations under international capital mobility…Few of us will ever have the opportunity to produce a book like Global Monetary Governance and, quite frankly, few of us will ever deserve this opportunity.' - David H. Bearce, The Review of International Organizations
1. Introduction Part 1: Challenges to Systemic Governance 2. The Political Economy of Monetary Reform Today 3. Balance-of-Payments Financing: Evolution of a Regime 4. The Triad and the Unholy Trinity: Lessons for the Pacific Region 5. Phoenix Risen: The Resurrection of Global Finance Part 2: Dealing with Financial Crisis 6. International Debt and Linkage Strategies: Some Foreign-Policy Implications for the United States 7. Developing-Country Debt: A Middle Way 8. Taming the Phoenix: Monetary Governance after the Crisis 9. Capital Controls: The Neglected Option Part 3: The New Geography of Money 10. The New Geography of Money 11. Monetary Governance in a World of Regional Currencies 12. The Geopolitics of Currencies and the Future of the International System 13. Dollarization: Pros and Cons 14. Are Monetary Unions Inevitable?