Space, Time, and Statecraft

Kenneth Dyson

in States, Debt, and Power

Published in print June 2014 | ISBN: 9780198714071
Published online August 2014 | e-ISBN: 9780191782558 | DOI:
Space, Time, and Statecraft

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This chapter examines the many and varied policy instruments that are available to creditor states and to debtor states and the challenge of matching deeds to words. It looks at the factors that affect their use by governing elites. These factors include size and systemic significance, including financial market scale and depth; core and periphery status; and whether the international political economy is in good or hard times. The focus is on spatial and temporal determinants of the use of statecraft. The chapter provides a typology of creditor and debtor states, distinguishing illusory creditors, lapsed creditors, productive debtors, regular debtors, and chronic debtors. It offers historical examples of each type. The chapter then analyses the various persuasive instruments and coercive instruments of statecraft. Finally, it assesses the relative power of creditor state and debtor states, emphasizing the contingent and context-specific nature of statecraft and the consequent difficulties that face the ambition to construct general theories about sovereign debt.

Keywords: size; systemic significance; core–periphery; empire; network capital; state typology; hard times; good times; persuasive instruments; coercive instruments

Chapter.  15865 words. 

Subjects: European Union

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