Global Political Economy and Finance: Four Paradigmatic Views

  • Kavous ArdalanEmail author


Any explanation of finance is based on a worldview. The premise of this book is that any worldview can be associated with one of the four broad paradigms: functionalist, interpretive, radical humanist, and radical structuralist. This chapter takes the case of finance and discusses it from the four different viewpoints. It emphasizes that the four views expressed are equally scientific and informative; they look at the phenomenon from their certain paradigmatic viewpoint; and together they provide a more balanced understanding of the phenomenon under consideration.


  1. Baker, Andrew, David Hudson, and Richard Woodward (eds.). 2005. Governing Financial Globalization: International Political Economy and Multi-level Governance. New York, NY, USA: Routledge.Google Scholar
  2. Breznitz, Dan, and Michael Murphree. 2011. Run of the Red Queen: Government, Innovation, Globalization, and Economic Growth in China. New Haven, CT, USA: Yale University Press.Google Scholar
  3. Cox, Kevin R. (ed.). 1997. Spaces of Globalization: Reasserting the Power of the Local. New York, NY, USA: Guilford Press.Google Scholar
  4. Fuchs, Christian. 2010. Critical Globalization Studies: An Empirical and Theoretical Analysis of the New Imperialism. Science and Society 74 (2): 215–247.CrossRefGoogle Scholar
  5. Harris, Jerry. 1999. Globalization and the Technological Transformation of Capitalism. Race and Class 40 (2/3): 21–35.CrossRefGoogle Scholar
  6. Hilferding, Rudolf. 2006. Finance Capital: A Study in the Latest Phase of Capitalist Development. London, Britain: Routledge & Kegan Paul and New York, NY, USA: Taylor & Francis.Google Scholar
  7. Hirst, Paul, and Graham Thompson. 1996. Globalization in Question: The International Economy and the Possibilities of Governance. Cambridge, Britain: Polity Press.Google Scholar
  8. Hoogvelt, Ankie. 1997. Globalization and the Postcolonial World: The New Political Economy of Development, 2nd ed. Baltimore, MD, USA: Johns Hopkins University Press.Google Scholar
  9. Houben, Henri. 2006. A Marxist Analysis of Present-Day Globalization. Nature, Society, and Thought 19 (4): 447–471.Google Scholar
  10. Kudrle, Robert T. 2012. Governing Economic Globalization: The Pioneering Experience of the OECD. Journal of World Trade 46 (3): 695–732.Google Scholar
  11. Langley, Paul. 2002. World Financial Orders: An Historical International Political Economy. New York, NY, USA: Routledge.Google Scholar
  12. Leitao, Nuno Carlos. 2012. Economic Growth, Globalization and Trade. Management Research and Practice 4 (3), 18–24.Google Scholar
  13. Lenin, Vladimir I. 1969. Imperialism, the Highest State of Capitalism: A Popular Outline. New York, NY, USA: International Publishers.Google Scholar
  14. Lillie, Nathan. 2006. Globalization and Class Analysis: Prospects for Labor Movement Influence in Global Governance. Industrielle Beziehungen 13 (3), 223–237.Google Scholar
  15. Magdoff, Harry. 1969. The Age of Imperialism: The Economics of U.S. Foreign Policy. New York, NY, USA: Monthly Review Press.Google Scholar
  16. Martin, R. 1994. Stateless Monies, Global Financial Integration and National Economic Autonomy: The End of Geography? In Money, Power and Space, ed. S. Corbridge, R. Martin, and N. Thrift, 253–278. Oxford, Britain: Blackwell.Google Scholar
  17. McKinnon, Ronald I. 1973. Money and Capital in Economic Development. Washington, DC, USA: Brookings Institution.Google Scholar
  18. O’Brien, Richard. 1992. Global Financial Integration: The End of Geography. New York, NY, USA: Royal Institute of International Affairs.Google Scholar
  19. Pagano, Marco. 1993. Financial Markets and Growth: An Overview. European Economic Review 37 (2–3), 613–622.CrossRefGoogle Scholar
  20. Pheko, Liepollo L. 2010. Gender, Economic Globalization, Movement and Citizenship. Development 53 (3), 402–406.CrossRefGoogle Scholar
  21. Robinson, William I. 2008. Latin America and Global Capitalism: A Critical Globalization Perspective. Baltimore, MD, USA: Johns Hopkins University Press.Google Scholar
  22. Safdari, Mehdi. 2011. Globalization and Economic Growth in Iran. African Journal of Business Management 5 (30), 12126–12131.Google Scholar
  23. Sakellaropoulos, Spyros. 2009. The Issue of Globalization Through the Theory of Imperialism and the Periodization of Modes of Production. Critical Sociology 35 (1), 57–78.CrossRefGoogle Scholar
  24. Sally, Razeen. 2007. Globalization: Europe, Trade and Globalization. Economic Affairs 27 (2): 99.CrossRefGoogle Scholar
  25. Saul, John. 2006. Development after Globalization: Theory and Practice for the Embattled South in a New Imperial Age. London, Britain: Zed Books.Google Scholar
  26. Shaw, Edward S. 1973. Financial Deepening in Economic Development. New York, NY, USA: Oxford University Press.Google Scholar
  27. Stanfield, James Ronald, and Michael C. Carroll. 2009. The Social Economics of Neoliberal Globalization. Forum for Social Economics 38 (1): 1–18.CrossRefGoogle Scholar
  28. Strange, Susan. 1994. The Structure of Finance in the World System. In Global Transformation: Challenges to the State System, ed. Yoshikazu Sakamoto, 228–249. New York, NY, USA: United Nations University Press.Google Scholar
  29. Thrift, N. 1994. On the Social and Cultural Determinants of International Financial Centers: The Case of the City of London. In ed. S. Corbridge, R. Martin, and N. Thrift, 327–355. Oxford, Britain: Blackwell.Google Scholar
  30. Tiemstra, John P. 2007. The Social Economics of Globalization. Forum for Social Economics 36 (2): 143–159.CrossRefGoogle Scholar
  31. Villaverde, Jose, and Adolfo Maza. 2011. Globalization, Growth and Convergence. World Economy 34 (6): 952–971.CrossRefGoogle Scholar
  32. Watson, Matthew. 1999. Rethinking Capital Mobility: Re-Regulating Financial Markets. New Political Economy 4 (1): 55–75.CrossRefGoogle Scholar

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.School of ManagementMarist CollegePoughkeepsieUSA

Personalised recommendations