Jonathan Kirshner here examines how states can and have used
international currency relationships and arrangements as
instruments of coercive power for the advancement of state
security. Kirshner lays the groundwork for the study of what he
calls monetary power by providing a taxonomy of the forms that such
power can take and of the conditions under which it can have
effect. He then establishes the actual existence of monetary power
by showing how the taxonomy is supported by the historical record,
including cases from nations from all over the globe and throughout
the twentieth century. He uncovers how monetary power is affected
by different monetary regimes, the sources of its success and
failure, and the factors that lead states to turn to its use.
Kirshner thus succeeds in developing a generalized framework for
the analysis of an important yet neglected form of state power that
is likely to be of increasing importance in the post-Cold War era.
Although some distinguished scholars have touched on the issue of
monetary power, there has been until now no standard text on the
subject. Integrating security studies and international political
economy, this book is a timely synthesis that will be important to
the entire discipline of international relations.
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