Study Group on Financial Statecraft: The Role of Financial Markets in American Foreign Policy

Chair: Jeffrey R. Shafer
Director: Benn Steil, Senior Fellow and Director of International Economics
January 1, 2003 - September 1, 2004

Financial markets, institutions, and instruments are playing an increasing role in American foreign policy, both as servants of traditional foreign policy aims, such as national security, and as objects, in their own right, of foreign trade and market access negotiations. Tensions and contradictions abound in this formulation, and are apparent in fierce policy debates over the merits of IMF bailouts, dollarization, financial sanctions, and market access restrictions. The project director is writing a book that examines the growing role of finance in foreign policy, why it is important, where its effects are misunderstood, and how institutional reforms can help in managing incompatible goals. Sessions of this study group will provide feedback on draft chapters.

Meetings

Study Group Meeting

Financial Statecraft: Session Three

Speaker: Benn Steil, Senior Fellow and Director of International Economics, Council on Foreign Relations
Chair: Jeffrey R. Shafer, Vice Chairman, Public Sector Client Group, Citigroup Global Markets
September 28, 2004
Study Group Meeting

Financial Statecraft: Session Two

Speaker: Benn Steil, Senior Fellow and Director of International Economics, Council on Foreign Relations
Chair: John P. Lipsky, J.P. Morgan Chase & Co.
January 26, 2004
Study Group Meeting

Financial Statecraft: Session One

Speaker: Benn Steil, Senior Fellow and Director of International Economics, Council on Foreign Relations
Chair: Jeffrey R. Shafer, Vice Chairman, Public Sector Client Group, Citigroup Global Markets
July 10, 2003