Sylvia Maxfield
Biographic Data
| ID | 718889 |
|---|---|
| NAME | Sylvia Maxfield |
| GIVEN NAMES | Sylvia |
| FAMILY NAME | Maxfield |
| SIGNATURE | MAXFIELD S |
| AFFILIATIONS | Yale University |
| VERIFIED | No |
| TOTAL WORKS | 26 |
| TOTAL CITATIONS | 358 |
| AUTHOR COUNT | 26 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1988 |
| LATEST PUBLICATION YEAR | 2017 |
| H-INDEX | 11 |
An empirical investigation of the financialization convergence hypothesis
Claims of global homogenization towards a singular model of finance capitalism constitute a “financialization convergence hypothesis” that has not been subject to systematic empirical scrutiny. Using extensive firm-level data we center on the key indicator of firm leverage, and reveal that substantial cross-national and cross-firm variation still persists. We first compare distributions across OECD countries and find no significant evidence of co…
Atlas constrained
We address the impact on international monetary power of the size and nature of the US's international financial assets and liabilities. Financial globalization makes critical a focus on a nation's international financial assets and liabilities, its ‘external balance sheet’. We suggest an expansion of Cohen's existing framework of international monetary power to include the implications of valuation changes in these external balance sheets, focus…
What is patient capital, and where does it exist
This Special Issue was first motivated by what its co-editors see as a significant lacuna in comparative political economy (CPE): the absence of a modern comparative model of financial markets. CPE, to us, has remained largely stuck with a long-standing dichotomy between bank-based and financial-market-based systems, with the implications for varieties of capitalism with which readers of Socio-Economic Review are very familiar. The result, howeve…
Banks and the False Dichotomy in the Comparative Political Economy of Finance
The wide-ranging varieties of capitalism literature rests on a particular conception of banks and banking that, the authors argue, no longer reflects the reality of modern financial systems. They take advantage of the greater information regarding bank activities revealed by the financial crisis to consider the reality, across eight of the world's largest developed economies, of the financial power of banks to act as bulwarks against market force…
Awards for Excellence
US Financial Regulations Circa 2010
US government authorities permitted extensive financial sector de-regulation in the two decades prior to the 2007–2008 financial crisis. The last step in this de-regulatory trend was the switch to risk-weighted captial adequacy from fixed leverage ratios for US investment banks in 2004. Combined with a highly decentralised government regulatory structure that is lauded for the regulatory competition it allows, this de-regulation created considera…
Gender and risk
Purpose Labeling women as risk‐averse limits the positive benefits both women and organizations can gain from their risk taking. The purpose of this paper is to explore women's risk taking and reasons for stereotype persistence in order to inform human resource practice and women's career development. Design/methodology/approach The paper draws on literature about gender and organizations to identify reasons for the persisting stereotype of women…
Women entrepreneurs and venture capital
Purpose The purpose of this paper is to conceptually and empirically explore issues that explain why women entrepreneurs access only a small percentage of venture capital (VC) investment in the USA. Design/methodology/approach The focus is on the situations women entrepreneurs face, and the strategies they adopt, to successfully fund their high‐growth businesses with venture funding. Rather than looking for answers at the individual level (men v …
Modifying best practices in women's advancement for the Latin American context
Purpose To stimulate research on Latin American businesswomen's career development and help human resource practitioners design culturally‐adapted advancement programs. Design/methodology/approach A total of 27 interviews with human resources professional from US Fortune 500 companies with business in Latin America undertaken during 2001‐2003 are the basis for reporting on women's advancement programs in Latin America. A survey of literature on c…
Crafting Coalitions for Reform
Journal Article Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil Get access Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil by Peter R. Kingstone. Philadelphia, Pennsylvania State University Press, 1999. Cloth, $60.00; paper, $22.50. Sylvia Maxfield Sylvia Maxfield Harvard University Search for other works by this author on: …
Capital Mobility and Democratic Stability
Although the democratic governments of Latin America and Asia have managed to survive the financial crises of the 1990s, there remains widespread concern that the volatility of capital flows can suddenly, even unexpectedly, force abrupt changes in economic policy and compromise political stability, especially in fledgling democracies. Over the longer term, it is feared, governments may find themselves perennially caught between socially beneficia…
The Self-Restraining State
Approaches to the Study of State Reform in Latin American and Postsocialist Countries
Gatekeepers of Growth
Understanding the political implications of financial internationalization in emerging market countries
The author explores the impact of financial internationalization on prospects for sustainable democratic developing in non-OECD countries. Existing arguments rest on changes in relative factor scarcity drawing from neoliberal trade theory, on governments' decreasing ability to tax increasingly mobile capital, on volatility of flows and on the rising intensity of the “market as prison” phenomenon first identified by Lindblom in a domestic context.…
Political Stability and Democracy in Mexico
Journal Article Political Stability and Democracy in Mexico: The “Perfect Dictatorship?”, by Dan A. Cothran Get access Political Stability and Democracy in Mexico: The “Perfect Dictatorship?” by Dan A. Cothran. Westport, CT, Praeger, 1994. 252 pp. $55.00. Sylvia Maxfield Sylvia Maxfield Yale University Search for other works by this author on: Oxford Academic Google Scholar Political Science Quarterly, Volume 111, Issue 1, Spring 1996, Pages 195–…
The political economy of financial internationalization in the developing world
In the last decade a growing number of developing countries have opened their financial systems by liberalizing capital flows and the rules governing the international operations of financial intermediaries. One explanation of this rush toward greater financial internationalization is that increasing interdependence generates domestic and foreign political pressures for capital account liberalization. While we find evidence for that hypothesis, w…
Winners and Losers
Journal Article Winners and Losers: How Sectors Shape the Developmental Prospects of States, by Michael Shafer Get access Winners and Losers: How Sectors Shape the Developmental Prospects of States by Michael Shafer. Ithaca, NY, Cornell University Press, 1994. 270 pp. Cloth, $37.50; paper, $14.95. Sylvia Maxfield Sylvia Maxfield Yale University Search for other works by this author on: Oxford Academic Google Scholar Political Science Quarterly, V…
Financial Incentives and Central Bank Authority in Industrializing Nations
Institutionalist models of macroeconomic performance in advanced industrial countries focus on central bank independence. In newly industrializing countries, however, the behavioral authority of the central bank is a much more significant predictor of inflation than is legal independence, because laws there are not the source of central bank ability to create or defend macroeconomic stability. Financial structures and the incentives they create f…
The International Political Economy of Bank Nationalization
“In the last two or three years, ... a group of Mexicans ..., supported and advised by the private banks, has stolen more money from our country than the empires that have exploited us since the beginning of history.... They've robbed us ..., but they will not rob us again.” With these words, President López Portillo nationalized Mexico's private banks and imposed controls on foreign exchange. Many of those attending this State of the Union addre…
The Marriage of Finance and Order
Recent literature on Latin American political economy appears to echo work of the 1960s and 1970s emphasising technical expertise in government. Sikkink and Geddes, for example, suggest that the role of technical experts and professionalisation of the bureaucracy explain Brazil's relative economic successes in the 1960s.1Conaghan, Malloy and Abugattas focus on the role of technocrats in economic policy-making in the Central Andes.2Following semin…
Bankers' Alliances and Economic Policy Patterns
This article suggests an organizational or institutional explanation of economic policy patterns which differs significantly from state- or society-centered explanations and those based on international factors. Bankers' alliances, defined as interest coalitions of public and private financiers, play an important role in shaping economic policy. The stronger the bankers' alliance, the more likely that long-run economic policy patterns will featur…
Governing Capital
How does international financial integration affect development in newly industrializing countries? Sylvia Maxfield offers a challenging interpretation of the Mexican political economy in light of this complex question. In an increasingly internationalized world, she argues, capital-controlling economic policies can have benefits that, especially for the newly industrializing Latin American countries addressed here, outweigh the efficiency costs …
Protectionism and the Internationalization of Capital
Conventional analyses of the economic policies of Third World states ignore the U.S. role in sponsoring import substitution industrialization (ISI) in these countries after World War Two. This protectionist development policy usually is considered as a project only of Third World nationalists. Ironically, the independent U.S. initiative to promote ISI came from those generally most associated with liberal trade policy: the executive branch of gov…
Entrepreneurs and Politics in Twentieth-Century Mexico
Banks and the False Dichotomy in the Comparative Political Economy of Finance
The wide-ranging varieties of capitalism literature rests on a particular conception of banks and banking that, the authors argue, no longer reflects the reality of modern financial systems. They take advantage of the greater information regarding bank activities revealed by the financial crisis to consider the reality, across eight of the world's largest developed economies, of the financial power of banks to act as bulwarks against market force…
The political economy of financial internationalization in the developing world
In the last decade a growing number of developing countries have opened their financial systems by liberalizing capital flows and the rules governing the international operations of financial intermediaries. One explanation of this rush toward greater financial internationalization is that increasing interdependence generates domestic and foreign political pressures for capital account liberalization. While we find evidence for that hypothesis, w…
Protectionism and the Internationalization of Capital
Conventional analyses of the economic policies of Third World states ignore the U.S. role in sponsoring import substitution industrialization (ISI) in these countries after World War Two. This protectionist development policy usually is considered as a project only of Third World nationalists. Ironically, the independent U.S. initiative to promote ISI came from those generally most associated with liberal trade policy: the executive branch of gov…
The Marriage of Finance and Order
Recent literature on Latin American political economy appears to echo work of the 1960s and 1970s emphasising technical expertise in government. Sikkink and Geddes, for example, suggest that the role of technical experts and professionalisation of the bureaucracy explain Brazil's relative economic successes in the 1960s.1Conaghan, Malloy and Abugattas focus on the role of technocrats in economic policy-making in the Central Andes.2Following semin…
Understanding the political implications of financial internationalization in emerging market countries
The author explores the impact of financial internationalization on prospects for sustainable democratic developing in non-OECD countries. Existing arguments rest on changes in relative factor scarcity drawing from neoliberal trade theory, on governments' decreasing ability to tax increasingly mobile capital, on volatility of flows and on the rising intensity of the “market as prison” phenomenon first identified by Lindblom in a domestic context.…
Gatekeepers of Growth
An empirical investigation of the financialization convergence hypothesis
Claims of global homogenization towards a singular model of finance capitalism constitute a “financialization convergence hypothesis” that has not been subject to systematic empirical scrutiny. Using extensive firm-level data we center on the key indicator of firm leverage, and reveal that substantial cross-national and cross-firm variation still persists. We first compare distributions across OECD countries and find no significant evidence of co…
Bankers' Alliances and Economic Policy Patterns
This article suggests an organizational or institutional explanation of economic policy patterns which differs significantly from state- or society-centered explanations and those based on international factors. Bankers' alliances, defined as interest coalitions of public and private financiers, play an important role in shaping economic policy. The stronger the bankers' alliance, the more likely that long-run economic policy patterns will featur…
Financial Incentives and Central Bank Authority in Industrializing Nations
Institutionalist models of macroeconomic performance in advanced industrial countries focus on central bank independence. In newly industrializing countries, however, the behavioral authority of the central bank is a much more significant predictor of inflation than is legal independence, because laws there are not the source of central bank ability to create or defend macroeconomic stability. Financial structures and the incentives they create f…
Gender and risk
Purpose Labeling women as risk‐averse limits the positive benefits both women and organizations can gain from their risk taking. The purpose of this paper is to explore women's risk taking and reasons for stereotype persistence in order to inform human resource practice and women's career development. Design/methodology/approach The paper draws on literature about gender and organizations to identify reasons for the persisting stereotype of women…
Atlas constrained
We address the impact on international monetary power of the size and nature of the US's international financial assets and liabilities. Financial globalization makes critical a focus on a nation's international financial assets and liabilities, its ‘external balance sheet’. We suggest an expansion of Cohen's existing framework of international monetary power to include the implications of valuation changes in these external balance sheets, focus…
Approaches to the Study of State Reform in Latin American and Postsocialist Countries
What is patient capital, and where does it exist
This Special Issue was first motivated by what its co-editors see as a significant lacuna in comparative political economy (CPE): the absence of a modern comparative model of financial markets. CPE, to us, has remained largely stuck with a long-standing dichotomy between bank-based and financial-market-based systems, with the implications for varieties of capitalism with which readers of Socio-Economic Review are very familiar. The result, howeve…
Crafting Coalitions for Reform
Journal Article Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil Get access Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil by Peter R. Kingstone. Philadelphia, Pennsylvania State University Press, 1999. Cloth, $60.00; paper, $22.50. Sylvia Maxfield Sylvia Maxfield Harvard University Search for other works by this author on: …
Capital Mobility and Democratic Stability
Although the democratic governments of Latin America and Asia have managed to survive the financial crises of the 1990s, there remains widespread concern that the volatility of capital flows can suddenly, even unexpectedly, force abrupt changes in economic policy and compromise political stability, especially in fledgling democracies. Over the longer term, it is feared, governments may find themselves perennially caught between socially beneficia…
Political Stability and Democracy in Mexico
Journal Article Political Stability and Democracy in Mexico: The “Perfect Dictatorship?”, by Dan A. Cothran Get access Political Stability and Democracy in Mexico: The “Perfect Dictatorship?” by Dan A. Cothran. Westport, CT, Praeger, 1994. 252 pp. $55.00. Sylvia Maxfield Sylvia Maxfield Yale University Search for other works by this author on: Oxford Academic Google Scholar Political Science Quarterly, Volume 111, Issue 1, Spring 1996, Pages 195–…
Women entrepreneurs and venture capital
Purpose The purpose of this paper is to conceptually and empirically explore issues that explain why women entrepreneurs access only a small percentage of venture capital (VC) investment in the USA. Design/methodology/approach The focus is on the situations women entrepreneurs face, and the strategies they adopt, to successfully fund their high‐growth businesses with venture funding. Rather than looking for answers at the individual level (men v …
Industry, the State, and Public Policy in Mexico
Governing Capital
How does international financial integration affect development in newly industrializing countries? Sylvia Maxfield offers a challenging interpretation of the Mexican political economy in light of this complex question. In an increasingly internationalized world, she argues, capital-controlling economic policies can have benefits that, especially for the newly industrializing Latin American countries addressed here, outweigh the efficiency costs …
Protectionism and the Internationalization of Capital
Conventional analyses of the economic policies of Third World states ignore the U.S. role in sponsoring import substitution industrialization (ISI) in these countries after World War Two. This protectionist development policy usually is considered as a project only of Third World nationalists. Ironically, the independent U.S. initiative to promote ISI came from those generally most associated with liberal trade policy: the executive branch of gov…
Entrepreneurs and Politics in Twentieth-Century Mexico
Bankers' Alliances and Economic Policy Patterns
This article suggests an organizational or institutional explanation of economic policy patterns which differs significantly from state- or society-centered explanations and those based on international factors. Bankers' alliances, defined as interest coalitions of public and private financiers, play an important role in shaping economic policy. The stronger the bankers' alliance, the more likely that long-run economic policy patterns will featur…
The International Political Economy of Bank Nationalization
“In the last two or three years, ... a group of Mexicans ..., supported and advised by the private banks, has stolen more money from our country than the empires that have exploited us since the beginning of history.... They've robbed us ..., but they will not rob us again.” With these words, President López Portillo nationalized Mexico's private banks and imposed controls on foreign exchange. Many of those attending this State of the Union addre…
The Marriage of Finance and Order
Recent literature on Latin American political economy appears to echo work of the 1960s and 1970s emphasising technical expertise in government. Sikkink and Geddes, for example, suggest that the role of technical experts and professionalisation of the bureaucracy explain Brazil's relative economic successes in the 1960s.1Conaghan, Malloy and Abugattas focus on the role of technocrats in economic policy-making in the Central Andes.2Following semin…
Financial Incentives and Central Bank Authority in Industrializing Nations
Institutionalist models of macroeconomic performance in advanced industrial countries focus on central bank independence. In newly industrializing countries, however, the behavioral authority of the central bank is a much more significant predictor of inflation than is legal independence, because laws there are not the source of central bank ability to create or defend macroeconomic stability. Financial structures and the incentives they create f…
Winners and Losers
Journal Article Winners and Losers: How Sectors Shape the Developmental Prospects of States, by Michael Shafer Get access Winners and Losers: How Sectors Shape the Developmental Prospects of States by Michael Shafer. Ithaca, NY, Cornell University Press, 1994. 270 pp. Cloth, $37.50; paper, $14.95. Sylvia Maxfield Sylvia Maxfield Yale University Search for other works by this author on: Oxford Academic Google Scholar Political Science Quarterly, V…
Political Stability and Democracy in Mexico
Journal Article Political Stability and Democracy in Mexico: The “Perfect Dictatorship?”, by Dan A. Cothran Get access Political Stability and Democracy in Mexico: The “Perfect Dictatorship?” by Dan A. Cothran. Westport, CT, Praeger, 1994. 252 pp. $55.00. Sylvia Maxfield Sylvia Maxfield Yale University Search for other works by this author on: Oxford Academic Google Scholar Political Science Quarterly, Volume 111, Issue 1, Spring 1996, Pages 195–…
The political economy of financial internationalization in the developing world
In the last decade a growing number of developing countries have opened their financial systems by liberalizing capital flows and the rules governing the international operations of financial intermediaries. One explanation of this rush toward greater financial internationalization is that increasing interdependence generates domestic and foreign political pressures for capital account liberalization. While we find evidence for that hypothesis, w…
Gatekeepers of Growth
Understanding the political implications of financial internationalization in emerging market countries
The author explores the impact of financial internationalization on prospects for sustainable democratic developing in non-OECD countries. Existing arguments rest on changes in relative factor scarcity drawing from neoliberal trade theory, on governments' decreasing ability to tax increasingly mobile capital, on volatility of flows and on the rising intensity of the “market as prison” phenomenon first identified by Lindblom in a domestic context.…
The Self-Restraining State
Approaches to the Study of State Reform in Latin American and Postsocialist Countries
Crafting Coalitions for Reform
Journal Article Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil Get access Crafting Coalitions for Reform: Business Preferences, Political Institutions, and Neoliberal Reform in Brazil by Peter R. Kingstone. Philadelphia, Pennsylvania State University Press, 1999. Cloth, $60.00; paper, $22.50. Sylvia Maxfield Sylvia Maxfield Harvard University Search for other works by this author on: …
Capital Mobility and Democratic Stability
Although the democratic governments of Latin America and Asia have managed to survive the financial crises of the 1990s, there remains widespread concern that the volatility of capital flows can suddenly, even unexpectedly, force abrupt changes in economic policy and compromise political stability, especially in fledgling democracies. Over the longer term, it is feared, governments may find themselves perennially caught between socially beneficia…
Modifying best practices in women's advancement for the Latin American context
Purpose To stimulate research on Latin American businesswomen's career development and help human resource practitioners design culturally‐adapted advancement programs. Design/methodology/approach A total of 27 interviews with human resources professional from US Fortune 500 companies with business in Latin America undertaken during 2001‐2003 are the basis for reporting on women's advancement programs in Latin America. A survey of literature on c…
Women entrepreneurs and venture capital
Purpose The purpose of this paper is to conceptually and empirically explore issues that explain why women entrepreneurs access only a small percentage of venture capital (VC) investment in the USA. Design/methodology/approach The focus is on the situations women entrepreneurs face, and the strategies they adopt, to successfully fund their high‐growth businesses with venture funding. Rather than looking for answers at the individual level (men v …
Gender and risk
Purpose Labeling women as risk‐averse limits the positive benefits both women and organizations can gain from their risk taking. The purpose of this paper is to explore women's risk taking and reasons for stereotype persistence in order to inform human resource practice and women's career development. Design/methodology/approach The paper draws on literature about gender and organizations to identify reasons for the persisting stereotype of women…
US Financial Regulations Circa 2010
US government authorities permitted extensive financial sector de-regulation in the two decades prior to the 2007–2008 financial crisis. The last step in this de-regulatory trend was the switch to risk-weighted captial adequacy from fixed leverage ratios for US investment banks in 2004. Combined with a highly decentralised government regulatory structure that is lauded for the regulatory competition it allows, this de-regulation created considera…
Awards for Excellence
Banks and the False Dichotomy in the Comparative Political Economy of Finance
The wide-ranging varieties of capitalism literature rests on a particular conception of banks and banking that, the authors argue, no longer reflects the reality of modern financial systems. They take advantage of the greater information regarding bank activities revealed by the financial crisis to consider the reality, across eight of the world's largest developed economies, of the financial power of banks to act as bulwarks against market force…
Atlas constrained
We address the impact on international monetary power of the size and nature of the US's international financial assets and liabilities. Financial globalization makes critical a focus on a nation's international financial assets and liabilities, its ‘external balance sheet’. We suggest an expansion of Cohen's existing framework of international monetary power to include the implications of valuation changes in these external balance sheets, focus…
What is patient capital, and where does it exist
This Special Issue was first motivated by what its co-editors see as a significant lacuna in comparative political economy (CPE): the absence of a modern comparative model of financial markets. CPE, to us, has remained largely stuck with a long-standing dichotomy between bank-based and financial-market-based systems, with the implications for varieties of capitalism with which readers of Socio-Economic Review are very familiar. The result, howeve…
Political science (22 works) · Economics (19 works) · Law (13 works) · Politics (12 works) · Finance (11 works) · Financial system (8 works) · Market economy (8 works) · Political economy (8 works) · Sociology (8 works) · Business (7 works)