The institutional foundations of US structural power in international finance: From the re-emergence of global finance to the monetarist turn

ABSTRACT This essay argues that existing interpretations of US structural power in international finance do not pay sufficient attention to its institutional basis and specifities. It reviews some of the contributions to the literature and offers an account of the re-emergence of global finance during the 1960s to the monetarist turn and its aftermath. The conclusion offers some thoughts on the implications of the analysis for our understanding of US financial power in the current era.