Geoffrey Underhill Homepage
Curriculum Vitae
Geoffrey Underhill was born in Vancouver, Canada (1959), and completed his BA (Hons) in Political Studies at Queen’s University at Kingston, graduating in 1980 with First Class honours. His main interests in political science were comparative/international political economy and international relations. In the course of his undergraduate studies he also completed the Certificat d’EtudesPolitiques at the Institut d’Etudes Politiques de Paris, specialising in the French political system and international relations/political economy. He received his PhD in 1987 at St. Antony’s College, University of Oxford. Underhill then taught at the University of Stirling (Scotland), and for three years at McMaster University in Canada, before moving to the University of Warwick in the UK in 1991. He took up theChair of International Governanceat the Universiteitvan Amsterdam in October 1998. From May2003-August 2006 he was appointed as Director of the Amsterdams Instituut voor Maatschappijwetenschap (AIM), now split into the faculty's Graduate School for Social Sciences and undergraduate College Sociale Wetenschappen. As of September 2006, Underhill returned to his professorship, teaching for the CSW and carrying out his research activities as a member of the Amsterdam Institute for Social Science Research, an interdisciplionary institute based at the UvA and accredited by the Royal Netherlands Academy of Sciences.
Teaching
Underhill teaches for the College of Social Sciences (College Sociale Wetenschappen or CSW), the predecessor of which he was the Director 2003-06, as well as the Graduate School for Social Sciences. He was for many years responsible for teaching the second year core module, Political Economy, which is required of all second year political science students taking their undergraduate degree at the University of Amsterdam. On a rotating basis, Underhill also teaches a year 3-4 seminar course entitled "The Political Economy of Global Money and Financial Markets" and also on international trade. In the second semester of 2011-12 he will teach a new MA thesis seminar 'Our Global Economy in the Shadow of the Crisis'. Underhill is also active in the Amsterdam Institute for Social Science Research in the supervision of PhD candidates and in the provision of course-based research training.
In 2011-12: semester two, "Our Global Economy in the Shadow of Crisis," MA thesis seminar (afstudeerproject)
Office Hours 2011-12 (semester 2): T.B.C.
Research
Research Interests
Underhill’s doctoral thesis was a study of domestic restructuring and industrial and trade policy in the textile and clothing industry in France. It investigated what happens when industry structures internationalise, yet state policy tools and constituencies remain territorially defined, and was thus a study of the political economy of trade and industrial adjustment patterns. The scope of the study widened over time to look at trade and adjustment in the textile and clothing sector across a range of developed economies, yielding the 1998 book Industrial Crisis and the Open Economy: Politics, Global Trade, and Textiles in the Advanced Economies (Macmillan), along with several articles.
From the end of the 1980s Underhill’s research began to focus on the political economy of monetary relations and financial services in a context of transnational financial markets, global capital mobility, and state macroeconomic management, including regional cases such as EU and North American financial integration. The focus was on patterns of international co-operation for the regulation and supervision of global financial markets, and the impact of regulatory change in financial markets on the global monetary system and the wider economic development process.
My empirical research has furthermore been underpinned by an ongoing interest in the theoretical debates in international/comparative political economy. The key theoretical debates involved concern the relationship between patterns of market competition, political conflict, and shifting patterns of governance across levels of analysis, including the agent-structure debate and the changing role of states in global society.
Current Research
Underhill’s current research project is in the context of the PETGOV (Political Economy and Transnational Governance) research programme of the Amsterdam Institute for Social Science Research (http://www.aissr.uva.nl/aissr/home.cfm). His current research project has introduced broad normative issues to research into the governance of international monetary and financial markets, and their links to macroeconomic policy.
The broad project, entitled The Public Good versus Private Interests in the Global Monetary and Financial System: the political economy of liberalisation. The central hypothesis is that in the context of the ongoing liberalisation and market-based integration of the global monetary and financial system, emerging forms of governance involve a shift in power and authority from public sector institutions, across institutional layers, to forms of private sector and, increasingly, private interest governance. In addition, the role and influence of private sector firms and associations in the elaboration of public policy with regard to financial and monetary governance, again at both national and international levels, has been and continues to be considerably enhanced. This situation pertains in both developed and emerging market economies and is a result of the central importance of financial and monetary system governance to the wider context of economic development in a market system. In such a context the realisation of wider public sector policy objectives across a number of policy domains, from economic development goals to social policy objectives, has become more difficult. These problems and the influence of the private financial sector on the global system of financial governance are also intimately related to the persistence of financial crisis and the failure to develop financial stability as a central goal of public policy.
Concerned with the emerging global financial architecture and the broader economic development process, the project involves several cases: further research into public and public-private co-operation in the supervision and regulation of financial institutions and markets; monetary and financial governance in the EU and CEE countries;comparative and global financial and monetary crisis management; analysis of the role of private/non-state actors in global financial and monetary governance; the changing role of central banks in developed and developing countries; the effects of global financial and monetary integration on competing varieties of national capitalism in developed and developing countries.
Austrian Radio Broadcast 18-12-2007
Awards and Honours
Parliamentary ODA Oversight Programme, project funded by Dutch Ministry of International Development; partners UvA Amsterdam Institute for International Development (lead institution), Association of European Parliamentarians for Europe, and the NEPAD Parliamentary Contact Group; 1 m euro over 2 years.
EU Framework 7 Research Programme (Large Scale Integrated Research Project) "Politics, Economics, and Global Governance: the European Dimensions,"negotiations with the Commission ongoing (January 2008), consortium includes University of Oxford, Centre for Economic Policy Research (London), ECARES (Brussels), Graduate Institute for International Studies (Geneva), CEPREMAP-Institut d’Etudes Politiques de Paris, European University Institute, €3.32 million.
2007 NWO (Scientific Research Council of the Netherlands ), project “The Political Economy of Global Money and FinancialGovernance: the new ‘Great Transformation’,” Teaching Replacement research grant ( Vervangingssubsidie), September 2007-August 2008, €50,000.
2005 NWO (Scientific Research Council of the Netherlands), Open Competition in Social and Behavioural Sciences (MAGw), project "Public-Private Interaction and Shifting Patterns of Financial Governance," award no. 400-04-233, four years funding (incl. scholarship for PhD candidate), €169,529.00.
2005 Economic and Social Research Council of the United Kingdom, interdisciplinary consortium award under "World Economy and Finance" research programme, project "National and International Aspects of Financial Development," with University of Leicester (lead institution), London School of Economics, and University of Amsterdam (Stijn Claessens, Fac. Econs./World Bank and Geoffrey Underhill Fac. Soc. and Behav. Sciences), award no. RES-156-25-0009, £210,000.00.
2005 GARNET (Globalisation and Regionalisation Network), €5.4 million over 5 years, EU 6 th Framework Research Programme "Network of Excellence," in collaboration with University of Warwick (lead institution) and 42 research institutions EU-wide; the application received 24 out of 25 possible points for excellence and was one of only two established by the EU under the subject area "Governance." My role is as UvA organiser, management committee member, general assembly member, co-ordinator of the work package on global financial governance and market regulation, and director of the first annual conference of the network.
2004 EU Socrates Programme, Erasmus 1, "EuropeanSummer University in Politics, International Relations, and European Studies," €150,000, in co-operation with University of Kent (lead institution), Univ. Grenoble, IEP Lille, University of Essex, Univ. Heidelberg, Budapest Univ. Econ. Sciences and Pub. Admin., Univ. Southampton, etc.
Feb. 2000 Workshop grants from Nederlandse Organisatie voor Wetenschappelijk Onderzoek (NWO, Scientific Research Council of the Netherlands, fl 20,000/€9,000), and Koninklijke Nederlandse Academie voor Wetenschappen (KNAW, Royal Netherlands Academy of Sciences, fl 10,000/€4500) for conference "What is to be Done? Global Economic Disorder and Policies for a New Financial Architecture in the Millennium," co-directed with Prof. Karel van Wolferen.
Oct. 1996 "International Regulatory Institutions and Global Securities Markets," Economicand Social Research Council (UK), Phase Two of Global Economic Institutions Programme, £50,000.00over two years June 1996-June 1998.
Dec. 1995 British International Studies Association Prize for best article published in Review of International Studies in 1995 (£200.00)
May 1994 Jean MonnetProject Teaching Module, "European Financial Integration and the Global Markets," 3 years funding.
1991-1996 University of Warwick Research and Innovations small grants: "Industrial Crisis and the Open Economy" (research travel funds); "International Politics of Financial Markets" (clerical assistance);"Political Economy and the Changing GlobalOrder" (travel funds).
April 1991 Social Sciences and Humanities Research Council of Canada, research grant ($C35,660) "The International Politics of Financial Markets," 3 yrs.
SELECTED PUBLICATIONS
Work in Progress
"Theory and the Market after the Crisis: the Endogeneity of Financial Governance," working draft (02 November 2010) currently under review.
"Markets, Institutions, and Transaction Costs: the endogeneity of governance," Working Paper no. WEF0025, World Economy and Finance research programme of the UK Economic and Social Research Council, June 2007, http://www.worldeconomyandfinance.org/working_papers_publications/wpdetail0025.html
Underhill WEF0025
Endogeneity Financial Governance
"Norms, Legitimacy, andGlobal Financial Governance," (with Xiaoke Zhang), Working Paper no. WEF0013, World Economy and Finance Research Programme of the UK Econ. and Soc. Res. Council, Sept. 2006; http://www.worldeconomyandfinance.org/working_papers_publications/wpdetail0013.html
Underhill-Zhang WEF0013
Policy Brief
Global Financial Architecture, Legitimacy, and Representation: Voice for Emerging Markets, GARNET Policy Brief no. 3, CERI Institut d’Etudes Politiques-GARNET, January 2007, reprinted in Monthly Report, vol 5/07, Vienna Institute for International Economic Studies, May 2007, 9-16.
Policy Brief
Books
Global Financial Integration Thirty Years On: From Reform to Crisis, ed. with J. Blom and D. Mügge, Underhill as principal editor, 18 chapters incl. intro.& conclusion, Cambridge University Press, 2010
Global Financial Integration Thirty Yrs On
Article in Volkskrant 15 Sept. 2010
Political Economy and the ChangingGlobal Order third edition, edited with Richard Stubbs (Oxford University Press, 2006); 37 chs., pp 492 incl index; two single-authored introductions and joint article with Michael Krätke - see personal contributions below.
Stubbs&Underhill
International Financial Governance under Stress: Global Structures versus National Imperatives (ed. with Xiaoke Zhang), (Cambridge: Cambridge University Press, 2003; reissued in paperback 2007), pp 395, intro., concl., chs 17.
Underhill&Zhang
States, Markets, and Governance: Private Interests, the Public Good, and the Democratic Process (Amsterdam: Vossiuspers, 2001), pp 37, short monograph comprising text of inaugural lecture on assuming the office of Chair of International Governance at the University of Amsterdam.
Non-State Actors and Authority in the Global System edited with R. Higgott and A. Bieler , (London: Routledge 2000), including joint-authored introduction by Higgott, Underhill, and Bieler (Higgott/Underhill principal authors); 301 pp.
Political Economy and the Changing Global Order all new second edition (37 chs.), edited with Richard Stubbs (Toronto/Oxford/NY: Oxford University Press, 2000), 422 pp.
Industrial Crisis and the Open Economy: Politics, Global Trade, and Textiles (London and New York: Macmillan/St. Martin's International Political Economy series, 1998), 331 pp.
Industrial Crisis 1998
Regionalism and Global Economic Integration: Europe, Asia, and the Americas, ed. with William D. Coleman, including joint-authoredintroduction and conclusion, (London: Routledge, 1998), pp 253; this book is a revised, updated, and expanded edition of The Single Market and Global Economic Integration listed below.
The New World Order in International Finance, ed., 12 chs. plus single-authoredintroduction (pp. 1-13) and conclusion (pp. 313-318), and two single-authored chapters listed below, (London/NY: Macmillan/St. Martin's International Political Economy Series, January 1997), 331 pp.
The Single Market and Global Economic Integration, edited with William D. Coleman, special issue of Journal of European Public Policy, vol. 2, no. 3, 1995 (Routledge, pp. 331-534), including joint-authored introduction, pp. 331-336.
Political Economy and the Changing Global Order, edited with Richard Stubbs, 33 chs., (London, New York, and Toronto: Macmillan/St. Martin's/McClelland and Stewart, 1994), 553 pp.
Articles in journals (refereed unless indicated *)
“Sources and Legitimacy of Financial Liberalisation,” with B. Burgoon and P. Demetriades, forthcoming in European Journal of Political Economy, vol/issue tbc.
* "Paved with Good Intentions: Global FinancialIntegration and the Eurozone’s Response," European Political Science, vol 10/3, September 2011, 366-74.
Link
"Political Economy, the ‘US School’, and the Manifest Destiny of Everyone Else," in special issue of New Political Economy (The ‘British School’ in IPE), vol. 14/3, September 2009, 347-56.
Underhill NPE 09-2009
“Setting the Rules: Private Power, Political Underpinnings, and Legitimacy in Global Monetary and Financial Governance,” (with X. Zhang), for Power and Rules in the Changing Global Economic Order, special issue of International Affairs vol. 84/3, May 2008 (ISSCI journal), 535-554.
"The Political Economy of Basle II: the costs for poor countries" (with Stijn Claessens and Xiaoke Zhang), The World Economy, forthcoming 2008 (ISSCI journal).
UnderhillZhang IntAffs May 2008
Basle II Working Paper WEF0015
"When will Politics End and the Market Begin? Whither free trade after Doha," Journal of International Trade and Diplomacy, vol. 1/1, Spring 2007, 91-126.
Underhill JITDip
JITDip Website
GeoffreyR.D. Underhill andXiaoke Zhang, "The Changing State-Market Condominium in East Asia: rethinking the political underpinnings of development," lead article in New Political Economy, volume 10, no. 1, March 2005, pp. 1-24 (ISSCI journal).
Underhill-Zhang NPE vol 10-1 Mar05
Geoffrey R.D. Underhill, "States, Markets, and Governance for Emerging Market Economies: Private Interests, the Public Good, and the Legitimacy of the Development Process" International Affairs, vol. 79/4, July 2003 (pp755-781; ISSCI journal), later reprinted in The Third World in the Global Governance System, ed. Martin Hvidt and Morten Ougaard, Development Research Series Occasional Papers no. 4, (Aalborg: Aalborg University, 2003), pp. 59-90.
Underhill IntAff 2003
"State, Market, and Global Political Economy: Genealogy of an (Inter-?) Discipline," in International Affairs, vol. 76, no. 4, October 2000, pp. 805-824(ISSCI journal).
Underhill IntAff 2000
"Transnationaal financiële markten en nationale economischeontwikkelingsmodellen: mondiale structuur tegenover binnenlandse vereisten,"Vrede en Veiligheid, Jaargang 29/2, 2000, themanummer "Internationale Politieke Economie," pp. 249-272.
"The Public Good versus Private Interests in the Global Monetary and Financial System," in International and Comparative Corporate Law Journal, vol. 2/3, 2000, pp. 335-359.
"Transnational Financial Markets and National Economic Development Models: Global Structures versus Domestic Imperatives," in Economies et Sociétés, Série "Monnaie", ME, no. 1-2, September-October 1999, pp. 37-68.
(with William D. Coleman) "Globalism, Regionalism, and the Emergence of International Securities Markets: the Case of IOSCOand EU Financial Integration," in The Single Market and Global Economic Integration, W.D.Coleman and Geoffrey R.D. Underhill (eds.), special issue of Journal of European Public Policy, vol. 2/3, 1995, pp. 488-513.
"Keeping Governments out of Politics: Transnational Securities Markets, Regulatory Co-operation, and Political Legitimacy,"in Review of International Studies, vol. 21/3, July 1995, pp. 251-278; reprinted in B.J. Cohen (ed.), International Monetary Relations in the New Global Economy, 2 vols. celebrating the 34 "key recent contributions" to the study of monetary and financial governanceinthe 1990s, (Cheltenham: Elgar Reference Collection, 2004), pp. 251-278.
"Markets Beyond Politics? The State and the Internationalisation of Financial Markets" in European Journal of Political Research, vol. 19/2 & 3, March-April 1991, pp. 197-225.
"Industrial Crisis andInternational Regimes: France, the EEC, and International Trade in Textiles" in Millennium: Journal of International Studies, vol. 19/2, August 1990, pp. 185-206.
"Neo-Corporatist Theory and the Politics of Industrial Decline: the Case of the French Textile and Clothing Industry 1974-1984", in European Journal of Political Research, October 1988, pp. 489-511.
Chapters in Edited Volumes:
Introduction, "Global Monetary and Financial Governance over Thirty Years On: issues and challenges," (with J. Blom and D. Mügge) in Global Financial Integration Thirty Years On: From Reform to Crisis, ed. with J. Blom and D. Mügge, Underhill as principal editor, Cambridge University Press, 2010.
"Basle II and the Political Economy of Global Financial Governance," (with Stijn Claessens) in Global Financial Integration Thirty Years On: From Reform to Crisis, ed. with J. Blom and D. Mügge, Underhill as principal editor, Cambridge University Press, 2010.
"Public Interest, National Diversity, and Global Financial Governance" (with X. Zhang) in Global Financial Integration Thirty Years On: From Reform to Crisis, ed. with J. Blom and D. Mügge, Underhill as principal editor, Cambridge University Press, 2010.
"Conclusion: whither financial governance after the crisis" (with Jasper Blom and Daniel Mügge, Mügge as principal author) in Global Financial Integration Thirty Years On: From Reform to Crisis,ed. with J. Blom and D. Mügge, Underhill as principal editor, Cambridge University Press, 2010.
"Business Authority and Global Financial Governance: Challenges to Accountability and Legitimacy," (with Xiaoke Zhang), in The Challenges of Global Business Authority: Democratic Renewal, Stalemate, or Decay?, T. Porter and K. Ronit (eds.), State University of New York Press, 2010.
“Financial Stability,” in D. Staffelt and J. Feuerhahn (eds.), Deutschland in der Globalisierung – Chancen und Herausforderungen (Germany’s Role in Globalisation: challenges and Opportunities), Berlin: Detlef Prinz 2008.
"Theorizing Governance in a Global Financial System," in The Political Economy of Financial Market Regulation: Dynamics of Inclusion and Exclusion ed. Peter Mooslechner, Helene Schuberth and Beat Weber (Cheltenham: Edward Elgar, 2006), 3-33.
(with Stijn Claessens) "The Need for Institutional Change in the Global Financial System," in Protecting the Poor: Global Financial Institutions and the Vulnerability of Low-Income Countries ed. J.J. Teunissen and Age Akkerman, (The Hague: FONDAD 2005), 79-114, a revised and reworked version of policy report prepared for HIPC unitof the World Bank, see below, also published earlier as Centre for Economic Policy Research Disccussion Paper DP4970, March 2005,link www.cepr.org/pubs/dps/DP4970.ASP .
"Conceptualising the Changing Global Order," revised introduction for third edition of Political Economy and the Changing Global Order (as above).
(with Michael Krätke) "Political Economy: revival of an ‘interdiscipline’" new chapter 1 of third edition of Stubbs and Underhill, Political Economy and the Changing Global Order, (as above)
"Global Issues inHistorical Perspective," revised introduction for Part IIof third edition of Political Economyand the Changing Global Order (as above).
(with Xiaoke Zhang) "The State-MarketCondominium Approach," in Richard Boyd and Tak Wing Ngo (eds.), Asian States: beyond the developmental perspective (Routledge Curzon, 2005), pp 43-66.
"Global Governance and Political Economy: private, public, and political authority in the 21 st century," in John N. Clarke and Geoffrey Edwards (eds.), Global Governance in the Twenty-First Century (London: Palgrave 2004), 112-38.
Selected contributions (16, e.g. WTO, European Union, Bretton Woods, multilateralism, etc.) to Oxford Concise Dictionary of Politics, ed. Iain McLean, secondedition(Oxford University Press, 2003)
(with X. Zhang) "Introduction: Global Market Integration, Financial Crises, and Policy Imperatives" in International Financial Governance under Stress: Global Structures versus National Imperatives (ed. with Xiaoke Zhang),(Cambridge: Cambridge University Press, 2003)
(with X. Zhang) "Global Structures and Political Imperatives: in Search of NormativeUnderpinnings for the International Financial Order", in Ibid (also translated and published as "Structures globales et impératifs nationaux: pensez les fondements normatifs pour un nouvel ordre financier international," in Olivier Delas et Christian Deblock, Le Bien commun comme réponse politique la mondialisation (Bruxelles: Bruylant 2003), pp 191-218.
(with X. Zhang) "Conclusion: Towards the Good Governance of the International Financial System";in Ibid.
(with X. Zhang as principal author), "Private Capture, Policy Failures, and Financial Crisis: Evidence and Lessons from Korea and Thailand" in Ibid.
"Global Integration, EMU, and Monetary Governance in the European Union: the political economy of the "stability culture," in K. Dyson (ed.), European States and the Euro: Europeanization, Convergence,and the Single Currency (Oxford University Press,2002), pp 31-52.
"The PublicGood versus PrivateInterests in the Global Monetary and Financial System," in D. Drache (ed.), The Market or the Public Domain: Global Governance and the Asymmetry of Power, (London: Routledge, 2001).
"Global Money and the Decline of State Power" in T. Lawton, J.N. Rosenau, and A. Verdun (eds), Strange Power: Shaping the Parameters of International Relations and International Political Economy, (Aldershot: Ashgate Publishing, 2000), pp. 115-135.
"Introduction: Globalisation andNon-Sate Actors," (with Richard Higgott and Andreas Bieler) in Higgott, Underhill, and Bieler (eds.), Non-State Actors and Authority in the Global System(London:Routledge 2000),pp. 1-12.
"Conceptualising the Changing Global Order," considerably revised introduction for second edition of Political Economy and the Changing Global Order (as above, 2000), pp. 3-24.
"Global Issues in Historical Perspective," revised introduction for Part II of second edition of Political Economy and the Changing Global Order (as above, 2000), pp.105-18.
"Organised Business and International Relations Theory" in Justin Greenwood and Henry Jacek (eds.), Organised Business and the New Global Order, (London: Macmillan, 2000), pp. 20-38.
"L’euro et le syst me financier mondial: prédestination ou temps nouveau d’un libre arbitre?" article for inauguralissue of l'Economie Politique, Paris, vol. 1/1, January 1999, pp. 91-102.
(withWilliam D. Coleman) "Globalism, Regionalism, and the Emergence of International Securities Markets: the Case of IOSCO and EU Financial Integration" in Regionalism and Global Economic Integration: Europe, Asia, and the Americas, ed. Coleman and Underhill, as above, pp 223-248.
"Private Markets and Public Responsibility in a Global System: Conflict and Co-operation in Banking and Securities Regulation," in Underhill(ed.), The New World Orderin International Finance, as above, pp. 17-49.
"The Making ofthe European Financial Area: Global Market Integration and the Single MarketforFinancial Services," in Ibid., pp. 101-123.
"When Technology doesn't Mean Change: Industrial Adjustment and Textile Production in France," in Michael Talalay, Chris Farrands, and Roger Tooze (eds.), Technology, Competitiveness, and Culture in the Global Political Economy, (London: Routledge 1997), pp. 139-150.
Selected contributions (18, eg. GATT, European Community, BrettonWoods, IMF, etc.) to Oxford Concise Dictionary of Politics, ed. Iain McLean, (Oxford University Press, 1996).
"Conceptualising the ChangingGlobal Order," in Stubbs/Underhill (eds.), Political Economy and the Changing Global Order, (as above, 1994), pp 17-44.
"The Changing Global Order in Historical Perspective," with Richard Stubbs, in Stubbs/Underhill (eds.), Political Economy and the Changing GlobalOrder, (as above, 1994), pp. 145-162.
"Negotiating Financial Openness: the Uruguay Round and Trade in Financial Services," in P.G. Cerny (ed.), Finance and World Politics: Markets, Regimes, and States in the Post-Hegemonic Era, (Cheltenham: Edward Elgar, 1993), pp. 114-151.
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