The Origins of Financial Openness
A Study of Current and Capital Account Liberalization
Bibliographic Data
| ID | 6231399 |
|---|---|
| Authors | Dennis P Quinn (0000-0002-0136-0898, Georgetown University), Carla Inclan |
| Year | 1997 |
| Volume | 41 |
| Issue | 3 |
| Pages | 771 |
| Publication date | 1997-07-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | American Journal of Political Science (JOURNAL) |
| Journal identifiers | ISSN: 0092-5853 • E-ISSN: 1540-5907 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2111675 |
| OpenAlex | W2051117064 |
| Language | EN |
| Citations received | 135 |
| References cited | 31 |
Theory: We assess the determinants of the national regulation of international finance, or the comparative degree of national financial openness or closure. Hypotheses: Partisanship interacts with a nation's factor endowments to account in part for different international financial policies by governments of the same partisan hue. Methods: We offer a quantitative measure of international financial openness, or current and capital account regulation, for 21 member countries of the Organization for Economic Cooperation and Development for 1950-88. We use regression analysis employing Panel Corrected Standard Errors to discover the determinants of financial openness. Results: Our main finding is that political partisanship substantially explains openness, but does so in complex ways. Differences in both political institutional arrangements and types of political economy also account for part of the differences in international financial regulation
Business · Capital (architecture · Capital account · Current (fluid · Current account · Economics · Exchange rate · Financial system · Geography · International economics · Liberalization · Market economy · Monetary economics · Openness to experience · Fiscal Policies and Political Economy · Geology · Global Financial Crisis and Policies · Monetary Policy and Economic Impact · Psychology
States in the Global Economy
Globalization of Capital and National Policymaking
Global Capital and National Governments
Political Parties and Pension Generosity in Times of Permanent Austerity
Taxation, Wage Bargaining, and Unemployment
Labour Market Regimes Under Threat? Sources of Continuity in Germany, Britain, and Sweden
Partisan Competition and Welfare State Retrenchment
Is the state being ‘transformed’ by globalisation?
Introduction
Round Up the Usual Suspects!
Post‐Industrial Pressures on the Mature Welfare States
The Political Economy of Social Pacts
The Futures of European Capitalism
Globalisation and social security expansion in East Asia
Withering welfare? Globalisation, political economic institutions, and contemporary welfare states
Disappearing taxes or the ‘race to the middle’? Fiscal policy in the OECD
New regimes, new capacities
The New Politics of the Welfare State
The Comparative Political Economy of Pension Reform
Political Institutions, Veto Points, and the Process of Welfare State Adaptation
Capitalism, Democracy, and Welfare
Comparative Institutional Advantages of Welfare State Regimes and New Coalitions in Welfare State Reforms
The Dynamics of Welfare State Expansion
Welfare State and Production Regimes in the Era of Retrenchment
Political Institutions and Welfare State Restructuring
France
Who Pays for Health Care Reform?
Introduction
Coping With Permanent Austerity Welfare State Restructuring in Affluent Democracies
Pattern Persistence in European Trade Union Density
Fiscal rules, capital controls, and cross-border financial integration
Democratic institutions and regulatory privileges for government debt
The Quality of Growth
International Migration, Deindustrialization and Union Decline in 16 Affluent OECD Countries, 1962-1997
Currency convertibility, cost of capital control and capital account liberalization in China
The Diffusion of Financial Liberalization in Developing Countries
Who Decides? Coalition Governance and Ministerial Discretion
Foreign Direct Investment Liberalization in Communist Regimes
Institutionalized autocracies, policy interdependence, and labor rights
Public affairs, issues management, and political strategy
Exploring political determinants of the magnitude of financial reforms in developing countries
Mobile capital, democratic institutions, and the public economy in advanced industrial societies
The divergent logics of labour market reforms in times of permanent austerity
How does financial openness affect economic growth at different stages of economies
Globalization from a World-System Perspective
Oil Wealth, Colonial Legacies, and the Challenges of Economic Liberalization
Before the interests are invested
How you stand depends on how we see
Open economy politics and Brexit
The reregulation of capital flows in Latin America
The politics of stock market development
Politics, power, and institution building
Dealing with financial risks of international capital flows
New Leader, New Policy? Bureaucratic Turnover and Policy Stability in China
Financial Openness and Productivity
Worker Influence on Capital Account Policy
Capital Account Liberalization
Theorising free capital mobility
Europeanization by foreign banks
The political economy of neoliberalism in Brazil
The Political Economy of Intermediate Capital Account Regimes
Factors Affecting Union Decline in 18 OECD Countries and their Implications for Labor Movement Reform
Signalling a change of heart? How parties’ short-term ideological shifts explain welfare state reform
Sources of Institutional Change
Globalization, the welfare state and right-wing populism in Western Europe
The Political Economy of Budget Deficits in the European Union
The Institutional Dynamics of International Political Orders
Are foreign stock investors politically responsive? Evidence from the 2012 South Korean presidential election
Globalization and Capital Taxation in Consensus and Majoritarian Democracies
The Causes of Welfare State Expansion
Where Have All the Members Gone? Globalization, Institutions, and Union Density
The Dilemma of Financial Liberalization
Government Inequality Reduction in Comparative Perspective
Class, Power and the Structural Dependence Thesis
Insuring Against Past Perils
Globalization and Government Policy Independence
Multiple Hands on the Wheel
Pension income replacement
Even Constrained Governments Take
Tariff Evasion and Trade Policies
To Devalue or to Defend? The Political Economy of Exchange Rate Policy
Democratization and Foreign Direct Investment Liberalization, 1970-2000
Protecting Jobs in the Age of Globalization
International Regimes, Domestic Veto-Players, and Capital Controls Policy Stability
Not Complements, But Substitutes
Political Freedom, Political Instability, and Policy Uncertainty
Financial Interdependence and the State
The Politics of Speculative Attacks in Industrial Democracies
Trade, Foreign Direct Investment, and Immigration Policy Making in the United States
Introduction
International Norm Dynamics and Political Change
International Systems and Domestic Politics
The Domestic Politics of Banking Regulation
Political Parties and Monetary Commitments
Donor Political Economies and the Pursuit of Aid Effectiveness
Societal Preferences, Partisan Agents, and Monetary Policy Outcomes
Globalization as ‘Galton's Problem
Coming to Terms
Economic Globalization, the Macro Economy, and Reversals of Welfare
International Labor Mobility and the Variety of Democratic Political Institutions
Asymptotic theory for econometricians
Politics and markets
Protection and Real Wages
Finance and Growth
Rational Expectations and the Theory of Price Movements
Governments, Markets, and Growth
Small States in World Markets
The Rise and Decline of Nations
Contradictions of the Welfare State
Free trade, fair trade, strategic trade, and protectionism in the U.S. Congress, 1987–88
The Politics of Monetary Policy
Overview and summary
Politics and Markets
Phoenix Risen
The Obsolescence of Capital Controls
Invested interests
Can orthodox stabilization and adjustment work? Lessons from New Zealand, 1984–90
Between free trade and protectionism
Left‐right political scales
Unemployment in Open Economies
A Cross-National Analysis of Economic Voting
Class Structure and Social Democratic Party Strategy
European Party Loyalties Revisited
Business Political Power
Politics and the Structural Dependence of the State in Democratic Capitalist Nations
Structural Dependence of the State on Capital
Government Partisanship, Labor Organization, and Macroeconomic Performance
| Unique citing works | 135 |
|---|---|
| Citations per year | 4,66 |
| Citation span | 1997 - 2025 (29) |
| Citation velocity | recent |
| Highly cited | Yes |
| Citation types | Neutral: 134 |