Chapter 4 International political economy and the study of financial crises
Restricted access

The 2008-09 Global Financial Crisis (GFC) surprised the economists and political scientists alike, prompting them to rethink their approaches to understanding financial turmoil. Economists lamented their lack of foresight in predicting the occurrence and spread of the crisis, while political scientists emphasized the paucity of research on the political underpinnings of financial instability. Scholars of political economy have responded to the challenge, building on the foundation of earlier studies and surging to fill urgent gaps in our understanding. Emphasizing banking and currency crises in particular, this chapter highlights existing work prior to the GFC, as well as more recent research that advances our understanding of government behavior, political institutions, and economic policies that contributed to financial crises. This work also suggests avenues for future research on the political economy drivers that lead to banking and currency crises.

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account
Monograph Book