Description
Book SynopsisAnalyzes fiscal, monetary and exchange rate policy, demonstrating why the convergence thesis is overstated and misleading, and explaining how the evidence actually contradicts it. This book explains partisan economic differences in the capitalist global economy, and offers an explanation for the observed gap between governments' exchange rates.
Trade ReviewIn a meticulously researched study, David Bearce demonstrates that, contrary to predictions, financial globalization has not resulted in a systematic convergence of national monetary policies. The book is a must-read for students of the political economy of international finance. Highlighting the critical role of partisan politics in determining policy outcomes, Bearce adds a new and important dimension to our understanding of the impacts of international capital mobility in the contemporary era. - Benjamin Jerry Cohen, Louis G. Lancaster Professor of International Political Economy, University of California, Santa Barbara
