JOURNAL ARTICLE

States and the masters of capital: sovereign lending, old and new.

  • Published In: International Affairs, 2024, v. 100, n. 4. P. 1792 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: O'Brien, Connor 3 of 3

Abstract

Quentin Bruneau's book, "States and the masters of capital," explores the evolution of sovereign lending practices over the past two centuries. The author highlights the shift from "Old Sovereign Lending," dominated by transnational merchant banking families, to "New Sovereign Lending," led by joint stock banks. Bruneau emphasizes the transition from a personalistic approach to a more impersonal practice focused on profit-seeking financial actors. While the author criticizes existing scholarship for overlooking historical changes in sovereign debt practices, he also acknowledges that some scholars recognize these transformations. Bruneau's book offers valuable insights into the history of sovereign lending and the importance of education in shaping financial practices. [Extracted from the article]

Additional Information

  • Source:International Affairs. 2024/07, Vol. 100, Issue 4, p1792
  • Document Type:Article
  • Subject Area:Law
  • Publication Date:2024
  • ISSN:0020-5850
  • DOI:10.1093/ia/iiae151
  • Accession Number:178481297
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