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This volume examines the relationship between banks and states, and how the traditional, political bank-state ties have been transformed.
List of contents
- 1: Introduction: The Paradox of Financial Control
- 2: High and Low Levels of Foreign Bank Ownership: Sources and Consequences
- 3: Foreign Banks in the Crisis: Retrenchment from the West, Continuing Exposures in the East
- 4: Catching Up in the Global Economy: Good and Bad Banks in East Central Europe
- 5: European Banking Union: The Weakening of Bank-State Ties
- 6: Conclusion: Ceding Autonomy but Limiting Costs: Revisiting the Logic of National Bank Control
About the author
Rachel A. Epstein is Professor of International Relations and European Politics at the Josef Korbel School of International Studies, University of Denver. Her publications include In Pursuit of Liberalism: International Institutions in Postcommunist Europe (Johns Hopkins 2008), and also edited a special issue of the Review of International Political Economy entitled 'Assets or Liabilities? Banks and the Politics of Foreign Ownership versus National Control' (2014). Her research and teaching examine the relationship between economic trends and national security outcomes, the dynamics of postcommunist transition, the role of international organizations in global politics, and economic crises and financial reform.
Summary
This volume examines the relationship between banks and states, and how the traditional, political bank-state ties have been transformed.
Additional text
Banking on Markets brilliantly analyses how the USSR's collapse, European monetary union, and the 2008 global financial crisis have fundamentally transformed bank-state relations in Europe. Through careful argumentation and compelling evidence, Epstein demonstrates that this intensely political process has empowered market actors and made the European banking system more resilient, while at the same time reducing the ability of governments in the poorer European states to use their national banks as development tools to help them catch up with the rest of Europe. Banking on Markets raises challenging questions, provides often unsettling answers, and should be read by everyone concerned with the future of banking and finance in Europe.
