Revolving doors and linked ecologies in the world economy: policy locations and the practice of international financial reform
Seabrooke, Leonard, 1974- and Tsingou, Eleni, 1973- (2009) Revolving doors and linked ecologies in the world economy: policy locations and the practice of international financial reform. Working Paper. University of Warwick. Centre for the Study of Globalisation and Regionalisation, Coventry.
WRAP_Seabrooke_26009.pdf - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Official URL: http://www2.warwick.ac.uk/fac/soc/csgr/research/wo...
Are rules for the world generated by international organizations' bureaucracies or private authority? Certainly both. This paper questions the utility of a distinction between international bureaucracies and transnational private authority, and points to how actors responsible for governing the world economy move between public and private roles. To help understand this ‘revolving doors’ phenomenon we borrow from Andrew Abbott’s work on ‘linked ecologies’, in which actors within different professional ecologies form coalitions to create alliance strategies in which they can propagate the relevance of their ideas and skills. If successful, an alliance between ecologies can take control of a policy ‘location’ - how a policy problem should be legitimately understood. We examine the benefit of linked ecologies approaches through two case studies of alliances competing for the best way to solve international financial stability issues, drawing upon interviews with practitioners from key international organizations and policy networks.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HG Finance
J Political Science > JZ International relations
|Divisions:||Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation|
|Library of Congress Subject Headings (LCSH):||International Monetary Fund, World Bank, Basle Committee on Banking Supervision, Group of Thirty, International fiscal relations|
|Series Name:||Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation)|
|Publisher:||University of Warwick. Centre for the Study of Globalisation and Regionalisation|
|Place of Publication:||Coventry|
|Number of Pages:||30|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|References:||Abbott, Andrew (1988), The System of Professions, Chicago, IL: Chicago University Press. Abbott, Andrew (2005a) ‘Linked Ecologies: States and Universities as Environments for Professions’, Sociological Theory 23(3): 245-274. Abbott, Andrew (2005b) ‘Things of Boundaries’, Social Research 62(4): 857-882. Abdelal, Rawi (2007) Capital Rules: The Construction of Global Finance, Cambridge, Mass: Harvard University Press. Alter, Karen J. (2008) ‘Agents or Trustees? International Courts in their Political Context’, European Journal of International Relations 14(1): 33-63. Barnett, Michael and Martha Finnemore (1999) ‘The Politics, Power, and Pathologies of International Organizations’, International Organization 53(4): 699-732. Barnett, Michael and Martha Finnemore (2004) Rules for the World: International Organizations in Global Politics, Ithaca, NY: Cornell University Press. Best, Jacqueline (2010) ‘The Limits of Financial Risk Management: Or, What We Didn’t Learn from the Asian Crisis’, New Political Economy 15, forthcoming. Blaschke, Winfrid, Matthew T. Jones, Giovanni Majnoni, and Maria Soledad Martinez Peria (2001) ‘Stress Testing of Financial Systems: An Overview of Issues, Methodologies, and FSAP Experiences’, International Monetary Fund Working Paper 01/88, Washington DC: IMF. Blyth, Mark (2007) ‘Powering, Puzzling, or Persuading? The Mechanisms of Building Institutional Orders’, International Studies Quarterly 51(4): 761-77. Bourdieu, Pierre (1993) The Field of Cultural Production: Essays on Art and Literature, Cambridge: Polity. Broome, André (2008) ‘The Importance of Being Earnest: The IMF as a Reputational Intermediary’, New Political Economy 13(2): 125-51. Broome, André and Leonard Seabrooke (2007) ‘Seeing Like the IMF: Institutional Change in Small Open Economies’, Review of International Political Economy 14(4): 576-601. Chwieroth, Jeffrey M. (2007a) ‘Testing and Measuring the Role of Ideas: The Case of Neoliberalism in the International Monetary Fund’, International Studies Quarterly 51(1): 5-30. Chwieroth, Jeffrey M. (2007b) ‘Neoliberal Economists and Capital Account Liberalization in Emerging Markets’, International Organization 61: 443–463. Crouch, Colin (2005) Capitalist Diversity and Change, Oxford: Oxford University Press. Cutler, A. Claire, Virginia Haufler and Tony Porter (1999) (eds) Private Authority and International Affairs. Albany: SUNY. Financial Stability Forum (2000) ‘Issues Paper of the Task Force on Implementation of Standards’, Meeting of the Financial Stability Forum, 25-26 March. Finnemore, Martha (1996) National Interests in International Society, Ithaca, NY: Cornell University Press. Flockhart, Trine (2006) ‘”Complex Socialization”: A Framework for the Study of State Socialization’, European Journal of International Relations 12(1): 89-118. Fourcade, Marion (2006) ‘The Construction of a Global Profession: The Transnationalization of Economics’, American Journal of Sociology 112(1): 145-94. Fourcade, Marion and Rakesh Khurana (2008) ‘From Social Control to Financial Economics: The Linked Ecologies of Economics and Business in Twentieth Century America’, Harvard Business School Working Paper No. 09-037. Gehring, Thomas and Sebastian Oberthür (2009) ‘The Causal Mechanisms of Interaction between International Institutions’, European Journal of International Relations 15(1): 125-156. Hall, Rodney Bruce (2008) Central Banking as Global Governance: Constructing Financial Credibility, Cambridge: Cambridge University Press. Hall, Rodney Bruce and Thomas Biersteker (2002) (eds) The Emergence of Private Authority in Global Governance. Cambridge: Cambridge University Press. Independent Evaluation Group (2006) Financial Sector Assessment Program: IEG Review of the Joint World Bank and IMF Initiative, Washington DC: World Bank. Independent Evaluation Office (2006) Report on the Evaluation of the Financial Sector Assessment Program, Washington DC: IMF. International Monetary Fund (2000) ‘Financial Sector Assessment Program (FSAP): Lessons from the Pilot and Issues going Forward’, November, Washington, DC: IMF. International Monetary Fund (2001) ‘Financial Soundness Indicators: Policy Paper’, June, Washington, DC: IMF. International Monetary Fund (2003) ‘Financial Soundness Indicators: Background Paper, May, Washington, DC: IMF. International Monetary Fund and the World Bank (2003) ‘Analytical Tools of the FSAP’, February 24 2003, Washington, DC: IMF. Johnson, Simon (2009) ‘The Quiet Coup’, The Atlantic, May. Available from: http://www.theatlantic.com/doc/200905/imf-advice. Accessed 30 May 2009. King, Michael R. and Timothy J. Sinclair (2003) ‘Private Actors and Public Policy: A Requiem for the New Basel Capital Accord’, International Political Science Review 24(3): 345-362. Kratochwil, Friedrich (2006) ‘History, Action and Identity: Revisiting the “Second” Great Debate and Assessing its Importance for Social Theory’, European Journal of International Relations 12(1): 5-29. Kupiec, Paul (2005) ‘The IMF- World Bank Financial Sector Assessment Program: A View from the Inside’, in Douglas D. Evanoff and George G. Kaufman (eds) Systemic Financial Crises, Singapore: World Scientific Publishing: 69-81. Latour, Bruno (2005) Reassembling the Social: An Introduction to Actor-Network Theory, Oxford: Oxford University Press. Legro, Jeffrey W. (2009) ‘The Plasticity of Identity under Anarchy’, European Journal of International Relations 15(1): 37-65. Lipsky, Michael (1980) Street-Level Bureaucracy, New York: Russell Sage Foundation. March, James G. and Johan P. Olsen (1989) Rediscovering Institutions, New York: Free Press. Marcussen, Martin (2007) ‘The Basel Committee as a Transnational Governance Network’, in Martin Marcussen and Jacob Torfing (eds) Democratic Network Governance in Europe, Basingstoke: Palgrave: 214-231. Momani, Bessma (2007) ‘IMF Staff: Missing Link in Fund Reform Proposals’, Review of International Organizations 2(1): 39–57. Mosley, Layna (2008) ‘Regulating Globally, Implementing Locally: The Future of International Financial Standards’, paper prepared for the "Crisis and Response: Whither International Financial Regulation?" Workshop, Waterloo, Ontario, September. Pauly, Louis (1997) Who Elected the Bankers? Ithaca, NY: Cornell University Press. Pouliot, Vincent (2008) ‘The Logic of Practicality: A Theory of Practice of Security Communities’, International Organization 62: 257–88 Power, Michael (2005) ‘The Invention of Operational Risk’, Review of International Political Economy 12(4): 577–599. Sabel, Charles (2004), ‘Beyond Principal-Agent Governance: Experimentialist Organizations, Learning and Accountability in Ewald Engelen and Monika Sie Dhian Ho (eds) De Staat van de Democratie, WRR Verkenning 3 Amsterdam: Amsterdam University Press: Seabrooke, L. (2006) The Social Sources of Financial Power, Ithaca, NY: Cornell University Press. Sending, Ole Jacob (2002) ‘Constitution, Choice and Change: Problems with the “Logic of Appropriateness” and Its Use in Constructivist Theory’, European Journal of International Relations 8(4): 443-470. Sending, Ole Jacob and Iver B. Neumann (2006) ‘Governance to Governmentality: Analyzing NGOs, States, and Power’, International Studies Quarterly 50(3): 651-672. Sharman, Jason C. (2008) ‘Power and Discourse in Policy Diffusion: Anti-Money Laundering in Developing States’, International Studies Quarterly 52, 635–656. Simmons, Beth A., Frank Dobbin, and Geoffrey Garrett (eds) (2008) The Global Diffusion of Markets and Democracy, Cambridge, MA: Cambridge University Press. Sinclair, Timothy J. (2005) The New Masters of Capital. Ithaca, NY: Cornell University Press. Strange, Susan (1996) The Retreat of the State, Cambridge: Cambridge University Press. Tsingou, E. (2004) ‘Policy Preferences in Financial Governance: Public-Private Dynamics and the Prevalence of Market-Based Arrangements in the Banking Industry’, CSGR Working Paper 131/04. Tsingou, E. (2008) ‘Transnational Private Governance and the Basel Process: Banking Regulation and Supervision, Private Interests and Basel II’, in J.-C. Graz and A. Nölke (eds) Transnational Private Governance and its Limits, London: Routledge: 58-68. Wallerstein, Imannuel M. (1976) The Modern World System, New York: Academic. Weaver, Catherine E. (2008) Hypocrisy Trap, Princeton, NJ: Princeton University Press. Wood, Duncan (2005) Governing Global Banking, Aldershot: Ashgate.|
Actions (login required)