Tailoring for Development: China's Post‐crisis Influence in Global Financial Governance
Julian Gruin,
Peter Knaack and
Jiajun Xu
Global Policy, 2018, vol. 9, issue 4, 467-478
Abstract:
China's increasing engagement in global financial governance since the 2008 crisis has potentially significant ramifications for global financial rule‐making and standard‐setting. This article presents a novel analysis of China's growing influence on the international stage and its consequences for the financial rules and standards that constrain policy makers in developing countries. We draw upon literature from international political economy and development studies to develop a framework for assessing whether China's rise has catalyzed a shift in global financial governance towards a tailored approach that responds to country‐specific developmental circumstances and needs. We argue that China's status as a rising power that still has idiosyncratic developmental priorities is leading it to push for rules and standards that are more flexible and sensitive to specific national development conditions. We illustrate this argument in three case studies, deploying the framework to explain variation in the post‐crisis evolution of rules in prudential banking regulation, capital flow management, and debt sustainability surveillance.
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://doi.org/10.1111/1758-5899.12566
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:glopol:v:9:y:2018:i:4:p:467-478
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1758-5880
Access Statistics for this article
Global Policy is currently edited by David Held, Patrick Dunleavy and Eva-Maria Nag
More articles in Global Policy from London School of Economics and Political Science Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().