Iain Hardie
Biographic Data
| ID | 253288 |
|---|---|
| NAME | Iain Hardie |
| GIVEN NAMES | Iain |
| FAMILY NAME | Hardie |
| SIGNATURE | HARDIE I |
| AFFILIATIONS | University of Edinburgh |
| ORCID | 0000-0002-4694-3755 |
| VERIFIED | Yes |
| TOTAL WORKS | 27 |
| TOTAL CITATIONS | 334 |
| AUTHOR COUNT | 27 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2004 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 8 |
Drinking practices
Prenatal maternal infections and early childhood developmental outcomes
BACKGROUND: Previous research has linked prenatal maternal infections to later childhood developmental outcomes and socioemotional difficulties. However, existing studies have relied on retrospectively self-reported survey data, or data on hospital-recorded infections only, resulting in gaps in data collection. METHODS: This study used a large linked administrative health dataset, bringing together data from birth records, hospital records, presc…
Examining the Potential Mediating Role of Maternal Mental Health in the Association Between Socioeconomic Deprivation and Child Development Outcomes
The association between SED and children's developmental outcomes appears to be partially mediated by maternal mental health, although the proportional-mediated effect was very small
Investigating low birth weight and preterm birth as potential mediators in the relationship between prenatal infections and early child development
Low birth weight and preterm birth appear to mediate the relationship between prenatal infections and childhood development, but only to a small extent. Maternal immune activation mechanisms unrelated to low birth weight and preterm birth remain the most likely explanation for associations observed between prenatal infections and child developmental outcomes, although other factors (for example, genetic factors) may also be involved
Understanding changes in the locations of drinking occasions in Great Britain
Women's alcohol consumption in the early parenting period and influences of socio‐demographic and domestic circumstances
Vaping and socioeconomic inequalities in smoking cessation and relapse
Vaping may be especially helpful as a cessation aid for smokers without degree level education and therefore may help reduce inequalities in smoking. Nevertheless, other supports or aids may be needed to reach the most disadvantaged (ie, those with no qualifications) and to help people avoid relapse after cessation, though we did not find clear evidence suggesting that vaping would increase inequalities in relapse
The impact of universal credit rollout on homelessness assistance need in Scottish local authorities
Since 2013, the Universal Credit (UC) welfare reform has been rolling out gradually to overhaul the means‐tested social security system for working‐age people in low‐income households in the United Kingdom. Existing research suggests that UC has had a detrimental impact on the housing security of claimants, with evidence of increases in rent arrears and landlord repossession actions as the reform has been rolled out. However, there is currently a…
Welfare Reform and Housing Insecurity
Universal Credit (UC) has been rolling out since 2013 to radically alter the UK welfare system. Several UC design features, and its changes to benefit generosity, can lead to claimants struggling to afford rent payments. This article uses fixed-effects panel modelling to investigate UC’s housing insecurity impacts within English local authorities (2014 Q1 - 2019 Q1) by bringing together official UC data and Citizens Advice ‘advice trends’ data on…
The Impact of Universal Credit Rollout on Housing Security
Housing allowances within the UK's welfare system help protect low-income households from eviction. Universal Credit (UC) has faced criticism for threatening this with its long wait periods, increased conditionality and monthly direct payments. However, there is currently a lack of robust, national-level quantitative analysis on UC's housing security impacts. This article addresses this, exploiting cross-area variation in the timing of UC rollout…
Why hasn't high-frequency trading swept the board? Shares, sovereign bonds and the politics of market structure
In today’s trading of liquid financial instruments, there are two main contending agencements (in Callon’s ‘actor-network’ sense of combinations of humans and nonhuman elements that manifest distributed agency): one agencement yokes together automated high-frequency trading (HFT) and open, anonymous electronic order books; the other is organized above all around the distinction between ‘dealers’ and ‘clients’. Drawing upon interviews with 321 mar…
Taking Europe seriously
This article considers the link between the financialization of European banks and US monetary power. We focus first on the Global Financial Crisis of 2008-09 (GFC), arguing that crisis origins should largely be located in European banks’ financialization and their becoming a banker to both the US and the global US dollar-based offshore banking system. The interdependence between this system and the US economy constrained US monetary policy befor…
The Impact of Treasury Yields on US Presidential Approval, 1960–2010
The ‘power of bond markets’ is a widely assumed and poorly understood feature of the global economy. We demonstrate that even in a bond market as stable as the United States this influence is considerable. In this article, we scrutinise a particularly direct influence, the impact of US Treasury yields on presidential approval rates. Our empirical analysis from 1961 to 2010 demonstrates that rising/falling bond yields lead to a decline/increase in…
Chains of Finance
Investment is no longer a matter of individual savers directly choosing which shares or bonds to buy. Rather, most of their money flows through a ‘chain’: an often extended sequence of intermediaries. What goes on in that chain is of huge importance: the world’s investment managers, who are now almost as well paid as top bankers, control assets equivalent in value to around a year of total global economic output. In Chains of Finance , five socia…
Trapped in Resistance
Chapter 7 reports the attempts of a network of French pensions’ trustees to force a US-based automotive company to allow trade unions in its Mississippi plants. To trigger practice change, trustees convened a meeting that gathered several actors belonging to or impacted by the investment chain that linked the trustees to the Mississippi employees of the company, in one way or another. The web of the connections that linked these actors to each ot…
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…
EU ring-fencing and the defence of too-big-to-fail banks
Bank ring-fencing is an important post-crisis regulatory response to the moral hazard dilemma surrounding too-big-to-fail banks. Since national governments bore the worst of the costs of rescuing the largest banks, it is reasonable to expect that the authorities would have the greatest incentive to promote tough ring-fence reform. However, in confrontation with the EU’s Liikanen Group and the EU Commission, France and Germany established a weaker…
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…
How much can governments borrow? Financialization and emerging markets government borrowing capacity
This article considers the varied borrowing capacity of emerging market governments, a key component of the impact on governments of financial globalization. It focuses on the link between the financialization – defined here as the ability to trade risk – and borrowing capacity, analyzing three case study countries: Brazil, Lebanon and Turkey. Both domestic and international bond markets are considered and differences in the ownership of governme…
Die Krise but not La Crise? The Financial Crisis and the Transformation of German and French Banking Systems
This article explores what the financial crisis shows about changes in the German and French banking systems, the two largest in continental Europe. In particular, we highlight processes of financialization – defined here as the increased trading of risk. We focus on an apparent contradiction: why did the supposedly more protectionist and conservative German banking system suffer much higher losses than the more liberalized French system? This ar…
The EU and Climate Change Policy
The European Union (EU) is a prominent player in the politics of climate change, operating as an authoritative regional actor that influences policy-making at the national and international levels. The EU’s climate change policies are thus subjected to multiple pressures that arise from the domestic politics of its twenty-seven individual member states and the international politics of non-EU states with which it negotiates. Facing these multiple…
Constructing the Market Frame
Assembling an Economic Actor
Michel Callon has conceptualised economic actors as made up of socio-technical agencements: collectives of human beings, technical devices, algorithms, and so on. This article reports a pilot, partially observational study of a hedge fund, a category of actor in financial markets that is of growing importance but that has so far attracted little attention in economic sociology. It draws on that study, and on interviews with other financial market…
A Price is a Social Thing
Arbitrage is a form of trading crucial both to the modern theory of finance and to market practice, yet it has seldom been the focus of study outside of economics. This article draws upon four initially separate ethnographic and interview-based studies to sketch a ‘material sociology’ of arbitrage. (The article follows financial market usage in viewing ‘arbitrage’ as trading that exploits discrepancies in relative prices, trading which is seldom …
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…
Assembling an Economic Actor
Michel Callon has conceptualised economic actors as made up of socio-technical agencements: collectives of human beings, technical devices, algorithms, and so on. This article reports a pilot, partially observational study of a hedge fund, a category of actor in financial markets that is of growing importance but that has so far attracted little attention in economic sociology. It draws on that study, and on interviews with other financial market…
Die Krise but not La Crise? The Financial Crisis and the Transformation of German and French Banking Systems
This article explores what the financial crisis shows about changes in the German and French banking systems, the two largest in continental Europe. In particular, we highlight processes of financialization – defined here as the increased trading of risk. We focus on an apparent contradiction: why did the supposedly more protectionist and conservative German banking system suffer much higher losses than the more liberalized French system? This ar…
How much can governments borrow? Financialization and emerging markets government borrowing capacity
This article considers the varied borrowing capacity of emerging market governments, a key component of the impact on governments of financial globalization. It focuses on the link between the financialization – defined here as the ability to trade risk – and borrowing capacity, analyzing three case study countries: Brazil, Lebanon and Turkey. Both domestic and international bond markets are considered and differences in the ownership of governme…
EU ring-fencing and the defence of too-big-to-fail banks
Bank ring-fencing is an important post-crisis regulatory response to the moral hazard dilemma surrounding too-big-to-fail banks. Since national governments bore the worst of the costs of rescuing the largest banks, it is reasonable to expect that the authorities would have the greatest incentive to promote tough ring-fence reform. However, in confrontation with the EU’s Liikanen Group and the EU Commission, France and Germany established a weaker…
Taking Europe seriously
This article considers the link between the financialization of European banks and US monetary power. We focus first on the Global Financial Crisis of 2008-09 (GFC), arguing that crisis origins should largely be located in European banks’ financialization and their becoming a banker to both the US and the global US dollar-based offshore banking system. The interdependence between this system and the US economy constrained US monetary policy befor…
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…
Constructing the Market Frame
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…
The sociology of arbitrage
This article examines the role of the sociology of arbitrage in developing a sociology of the financial markets. While viewing ‘Parsons’ Pact’ as unhelpful, I suggest that the ‘sociology of arbitrage’ is a distraction from the questioning of it. I offer a more precise definition of arbitrage than in recent literature, while retaining relevance to the operations of financial markets. By suggesting that, as a result of this more precise definition,…
The power of the markets? The international bond markets and the 2002 elections in Brazil
This study uses an investment bank's fixed income research reports to analyse in unusual detail the investment activities and attitudes of international emerging bond market investors during the extreme market volatility over the Brazilian presidential elections of 2002. In examining these investors' reaction to the prospect and subsequent policies of the left-wing Lula government, the article considers Mosley's (2003, Global Capital and National…
The Impact of Universal Credit Rollout on Housing Security
Housing allowances within the UK's welfare system help protect low-income households from eviction. Universal Credit (UC) has faced criticism for threatening this with its long wait periods, increased conditionality and monthly direct payments. However, there is currently a lack of robust, national-level quantitative analysis on UC's housing security impacts. This article addresses this, exploiting cross-area variation in the timing of UC rollout…
Why hasn't high-frequency trading swept the board? Shares, sovereign bonds and the politics of market structure
In today’s trading of liquid financial instruments, there are two main contending agencements (in Callon’s ‘actor-network’ sense of combinations of humans and nonhuman elements that manifest distributed agency): one agencement yokes together automated high-frequency trading (HFT) and open, anonymous electronic order books; the other is organized above all around the distinction between ‘dealers’ and ‘clients’. Drawing upon interviews with 321 mar…
Welfare Reform and Housing Insecurity
Universal Credit (UC) has been rolling out since 2013 to radically alter the UK welfare system. Several UC design features, and its changes to benefit generosity, can lead to claimants struggling to afford rent payments. This article uses fixed-effects panel modelling to investigate UC’s housing insecurity impacts within English local authorities (2014 Q1 - 2019 Q1) by bringing together official UC data and Citizens Advice ‘advice trends’ data on…
The EU and Climate Change Policy
The European Union (EU) is a prominent player in the politics of climate change, operating as an authoritative regional actor that influences policy-making at the national and international levels. The EU’s climate change policies are thus subjected to multiple pressures that arise from the domestic politics of its twenty-seven individual member states and the international politics of non-EU states with which it negotiates. Facing these multiple…
The Impact of Treasury Yields on US Presidential Approval, 1960–2010
The ‘power of bond markets’ is a widely assumed and poorly understood feature of the global economy. We demonstrate that even in a bond market as stable as the United States this influence is considerable. In this article, we scrutinise a particularly direct influence, the impact of US Treasury yields on presidential approval rates. Our empirical analysis from 1961 to 2010 demonstrates that rising/falling bond yields lead to a decline/increase in…
The sociology of arbitrage
This article examines the role of the sociology of arbitrage in developing a sociology of the financial markets. While viewing ‘Parsons’ Pact’ as unhelpful, I suggest that the ‘sociology of arbitrage’ is a distraction from the questioning of it. I offer a more precise definition of arbitrage than in recent literature, while retaining relevance to the operations of financial markets. By suggesting that, as a result of this more precise definition,…
The power of the markets? The international bond markets and the 2002 elections in Brazil
This study uses an investment bank's fixed income research reports to analyse in unusual detail the investment activities and attitudes of international emerging bond market investors during the extreme market volatility over the Brazilian presidential elections of 2002. In examining these investors' reaction to the prospect and subsequent policies of the left-wing Lula government, the article considers Mosley's (2003, Global Capital and National…
A Price is a Social Thing
Arbitrage is a form of trading crucial both to the modern theory of finance and to market practice, yet it has seldom been the focus of study outside of economics. This article draws upon four initially separate ethnographic and interview-based studies to sketch a ‘material sociology’ of arbitrage. (The article follows financial market usage in viewing ‘arbitrage’ as trading that exploits discrepancies in relative prices, trading which is seldom …
Constructing the Market Frame
Assembling an Economic Actor
Michel Callon has conceptualised economic actors as made up of socio-technical agencements: collectives of human beings, technical devices, algorithms, and so on. This article reports a pilot, partially observational study of a hedge fund, a category of actor in financial markets that is of growing importance but that has so far attracted little attention in economic sociology. It draws on that study, and on interviews with other financial market…
The EU and Climate Change Policy
The European Union (EU) is a prominent player in the politics of climate change, operating as an authoritative regional actor that influences policy-making at the national and international levels. The EU’s climate change policies are thus subjected to multiple pressures that arise from the domestic politics of its twenty-seven individual member states and the international politics of non-EU states with which it negotiates. Facing these multiple…
Die Krise but not La Crise? The Financial Crisis and the Transformation of German and French Banking Systems
This article explores what the financial crisis shows about changes in the German and French banking systems, the two largest in continental Europe. In particular, we highlight processes of financialization – defined here as the increased trading of risk. We focus on an apparent contradiction: why did the supposedly more protectionist and conservative German banking system suffer much higher losses than the more liberalized French system? This ar…
How much can governments borrow? Financialization and emerging markets government borrowing capacity
This article considers the varied borrowing capacity of emerging market governments, a key component of the impact on governments of financial globalization. It focuses on the link between the financialization – defined here as the ability to trade risk – and borrowing capacity, analyzing three case study countries: Brazil, Lebanon and Turkey. Both domestic and international bond markets are considered and differences in the ownership of governme…
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…
EU ring-fencing and the defence of too-big-to-fail banks
Bank ring-fencing is an important post-crisis regulatory response to the moral hazard dilemma surrounding too-big-to-fail banks. Since national governments bore the worst of the costs of rescuing the largest banks, it is reasonable to expect that the authorities would have the greatest incentive to promote tough ring-fence reform. However, in confrontation with the EU’s Liikanen Group and the EU Commission, France and Germany established a weaker…
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…
Chains of Finance
Investment is no longer a matter of individual savers directly choosing which shares or bonds to buy. Rather, most of their money flows through a ‘chain’: an often extended sequence of intermediaries. What goes on in that chain is of huge importance: the world’s investment managers, who are now almost as well paid as top bankers, control assets equivalent in value to around a year of total global economic output. In Chains of Finance , five socia…
Trapped in Resistance
Chapter 7 reports the attempts of a network of French pensions’ trustees to force a US-based automotive company to allow trade unions in its Mississippi plants. To trigger practice change, trustees convened a meeting that gathered several actors belonging to or impacted by the investment chain that linked the trustees to the Mississippi employees of the company, in one way or another. The web of the connections that linked these actors to each ot…
The Impact of Treasury Yields on US Presidential Approval, 1960–2010
The ‘power of bond markets’ is a widely assumed and poorly understood feature of the global economy. We demonstrate that even in a bond market as stable as the United States this influence is considerable. In this article, we scrutinise a particularly direct influence, the impact of US Treasury yields on presidential approval rates. Our empirical analysis from 1961 to 2010 demonstrates that rising/falling bond yields lead to a decline/increase in…
Why hasn't high-frequency trading swept the board? Shares, sovereign bonds and the politics of market structure
In today’s trading of liquid financial instruments, there are two main contending agencements (in Callon’s ‘actor-network’ sense of combinations of humans and nonhuman elements that manifest distributed agency): one agencement yokes together automated high-frequency trading (HFT) and open, anonymous electronic order books; the other is organized above all around the distinction between ‘dealers’ and ‘clients’. Drawing upon interviews with 321 mar…
Taking Europe seriously
This article considers the link between the financialization of European banks and US monetary power. We focus first on the Global Financial Crisis of 2008-09 (GFC), arguing that crisis origins should largely be located in European banks’ financialization and their becoming a banker to both the US and the global US dollar-based offshore banking system. The interdependence between this system and the US economy constrained US monetary policy befor…
The Impact of Universal Credit Rollout on Housing Security
Housing allowances within the UK's welfare system help protect low-income households from eviction. Universal Credit (UC) has faced criticism for threatening this with its long wait periods, increased conditionality and monthly direct payments. However, there is currently a lack of robust, national-level quantitative analysis on UC's housing security impacts. This article addresses this, exploiting cross-area variation in the timing of UC rollout…
Welfare Reform and Housing Insecurity
Universal Credit (UC) has been rolling out since 2013 to radically alter the UK welfare system. Several UC design features, and its changes to benefit generosity, can lead to claimants struggling to afford rent payments. This article uses fixed-effects panel modelling to investigate UC’s housing insecurity impacts within English local authorities (2014 Q1 - 2019 Q1) by bringing together official UC data and Citizens Advice ‘advice trends’ data on…
Understanding changes in the locations of drinking occasions in Great Britain
Women's alcohol consumption in the early parenting period and influences of socio‐demographic and domestic circumstances
Vaping and socioeconomic inequalities in smoking cessation and relapse
Vaping may be especially helpful as a cessation aid for smokers without degree level education and therefore may help reduce inequalities in smoking. Nevertheless, other supports or aids may be needed to reach the most disadvantaged (ie, those with no qualifications) and to help people avoid relapse after cessation, though we did not find clear evidence suggesting that vaping would increase inequalities in relapse
The impact of universal credit rollout on homelessness assistance need in Scottish local authorities
Since 2013, the Universal Credit (UC) welfare reform has been rolling out gradually to overhaul the means‐tested social security system for working‐age people in low‐income households in the United Kingdom. Existing research suggests that UC has had a detrimental impact on the housing security of claimants, with evidence of increases in rent arrears and landlord repossession actions as the reform has been rolled out. However, there is currently a…
Investigating low birth weight and preterm birth as potential mediators in the relationship between prenatal infections and early child development
Low birth weight and preterm birth appear to mediate the relationship between prenatal infections and childhood development, but only to a small extent. Maternal immune activation mechanisms unrelated to low birth weight and preterm birth remain the most likely explanation for associations observed between prenatal infections and child developmental outcomes, although other factors (for example, genetic factors) may also be involved
Drinking practices
Economics (18 works) · Political science (15 works) · Housing, Finance, and Neoliberalism (12 works) · Finance (10 works) · Law (10 works) · Market economy (10 works) · Business (7 works) · Law (7 works) · Banking stability, regulation, efficiency (6 works) · Finance (6 works)