POLI 445 Lecture Notes - Lecture 18: Financial Regulation, Capital Flight, Floating Exchange Rate

• School: McGill University
• Department: Political Science
• Course: POLI 445
• Professor: Mark Brawley

Document Summary

In 2040, the composition of the g7 will be different - brics will have more of a say, and will become more important players (if they haven"t already) In terms of market size and financial resources, they become more important players. If there"s disagreement over the proper tool, political infighting occurs, and nothing happens. Leads to the possi(cid:271)ilities of states ru(cid:374)(cid:374)i(cid:374)g to the tool they fi(cid:374)d (cid:373)ost appropriate, or : political process takes over: "forum shopping, what we"re concerned with here: how overlapping architecture sets the ground for this. "political fight" over which institution is the correct one to handle some intl problem: political scrambling and arguing leads to delays. Forum-shopping delays response: this is not what you want in a financial crisis. Institutionalism - pointed to the idea that states could create institutions for mutual benefit (tying each other"s hands) to overcome problems of anarchy: e(cid:373)phasized the positi(cid:448)e aspe(cid:272)t, (cid:271)ut (cid:271)y the late (cid:1005)99(cid:1004)s, pro(cid:271)le(cid:373)s are (cid:271)ei(cid:374)g raised.