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(Re)politicizing global financial governance: what's ‘new’ about the ‘New International Financial Architecture’?
Author(s) -
Langley Paul
Publication year - 2004
Publication title -
global networks
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.685
H-Index - 65
eISSN - 1471-0374
pISSN - 1470-2266
DOI - 10.1111/j.1471-0374.2004.00081.x
Subject(s) - conceptualization , corporate governance , global governance , politics , architecture , field (mathematics) , process (computing) , power (physics) , sociology , political science , political economy , finance , economics , law , art , physics , mathematics , quantum mechanics , artificial intelligence , computer science , pure mathematics , visual arts , operating system
This article is a contribution to the (re)politicization of global financial governance currently underway in the interdisciplinary field of international political economy (IPE). Particular reference is made to the economistic and technicist discourse prevalent in the so‐called ‘New International Financial Architecture’ (NIFA) process. It is argued that a (re)politicized reading of global financial governance is enabled by a conceptualization of governance networks that combines the institutional focus of existing IPE research with a concern with the discursive dynamics of authority relations and that situates governance networks in the power relations, contestation, contradictions and reproduction of global finance. Claims to ‘newness’ regarding the NIFA process, made by both the ‘architects’ themselves and left unchallenged by the majority of IPE scholars, are also disputed. The NIFA process is shown to have continued the contested development of an exclusionary transnational neo‐liberal network of governance that first began to emerge in the mid‐1970s.