Overview

This book analyzes the evolution and impact of the concept of risk on processes of transnational banking and financial market regulation, as well as the externalities generated by speculative financial activity in developing and emerging market economies. The author provides an alternative theory for the study of international financial market regulation by applying elements of a post-structural methodology to the topic. Inspired by Michel Foucault’s framework of critical discourse analysis in The History of Sexuality, the argument dissects the rules of formation that govern the evolving discourse on risk. The author argues that the mathematically formal technology of risk emerges from within specific institutions and economic formations; thereby limiting its utility in the regulation of global financial markets. Exploring how the applied technology of risk has been implicated for fueling a major financial crisis, his work also demonstrates how the regulation of global financial markets and abstruse financial instruments in advanced industrialized countries impacts the lives of the poorest people in developing countries and emerging markets.

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9781138805255

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Reviews

Yadav (Hobart and William Smith Colleges) considers risk and regulations in the global economy, in particular the interaction between the two. In the current context of global financial turbulence, he examines how so much systemic damage could occur in an industry that has been diligently regulated for decades. ... Heavily annotated; outstanding bibliography. Highly recommended. -- CHOICE March 2009 Vol. 46 (I. Walter, New York University)

Author Information

Vikash Yadav is Assistant Professor of Political Science at Hobart and William Smith Colleges in Geneva, New York.

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