The Political Economy of International Capital Mobility (International Political Economy Series)

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. International Capital Mobility Is A Fundamental Aspect Of The Political Economy Of Globalization And, In This New Book, Matthew Watson Develops A Novel Framework For Understanding This All-important Phenomenon. Drawing On A Distinction Between The Spatial And The Functional Mobility Of Capital, Watson Provides Fresh Insights Into Existing Work On The Subject Whilst Repoliticizing The Very Idea Of Capital Being 'in Motion'. Recent Developments In The Institutional Structure Of Financial Markets Have Disembedded The Pricing Dynamics Of Those Markets From Societal Interests, At The Same Time That The Move To Asset-based Welfare Has Embedded Increasing Numbers Of People Into Financial Markets. The Juxtaposition Of These Twin Processes Of Disembedding And Embedding Heightens The Financial Risk Exposures Of Ordinary Savers. 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. Controlling, Creating And Cashing-in On Risk: The Essence Of International Financial Markets -- Spatial Versus Functional Mobility Of Capital: A Framework For Analysis -- The Intellectual Conditions For Recent Increases In Capital Mobility -- The Historical Conditions For Recent Increases In Capital Mobility -- Capital Mobility, Exchange Rate Instability And Contagious Credit Crunches: The Causes And Spread Of The Asian Financial Crisis -- Currency Market Transactions And The Desire For Progressive Regulation: Capital Mobility And Tobin Tax Avoidance -- Stock Price Psychosis And The Pathology Of A Corporate Meltdown: The Collapse Of Enron -- Capital Mobility In An Age Of Shareholder Value: The Battle For Control Of The London Stock Exchange. Matthew Watson. Includes Bibliographical References And Index. Master And Use Copy. Digital Master Created According To Benchmark For Faithful Digital Reproductions Of Monographs And Serials, Version 1. Digital Library Federation, December 2002. Http://purl.oclc.org/dlf/benchrepro0212 Miaahdl 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 detailed global case studies. International capital mobility is a fundamental aspect of the political economy of globalization and, in this new book, Matthew Watson develops a novel framework for understanding this all-important phenomenon. Drawing on a distinction between the spatial and the functional mobility of capital, Watson provides fresh insights into existing work on the subject whilst repoliticizing the very idea of capital being 'in motion'. Recent developments in the institutional structure of financial markets have disembedded the pricing dynamics of those markets from societal interests, at the same time that the move to asset-based welfare has embedded increasing numbers of people into financial markets. The juxtaposition of these twin processes of disembedding and embedding heightens the financial risk exposures of ordinary savers. 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 "International capital mobility is a fundamental aspect of the political economy of globalisation and, in this book, Matthew Watson develops a novel framework for understanding this all-important phenomenon. Drawing on a distinction between the spatial and the functional mobility of capital, Watson provides insights into existing work on the subject whilst repoliticising the very idea of capital being 'in motion.'"--Jacket This study offers a new framework for understanding international capital mobility through case studies, such as the Tobin tax and the Enron affair. In doing this, the author draws a distinction between the spatial and the functional while also repoliticizing the very idea of capital being 'in motion'