New Books in Finance

The
number of people in the world with a bank account or money service
provider increased by 2 billion over the past decade. This phenomenon
reflects what Dr. Tyler Girard calls the global financial inclusion
agenda. This agenda emerged in the wake of the 2008 financial crisis and
quickly became a prominent feature of global economic governance. 

The
core idea of financial inclusion is that all individuals and businesses
should have access to and use formal financial services, including bank
accounts, payment services, credit, and insurance. Today, the
widespread ability to digitally store and transfer money has impacted
every aspect of our lives. What explains the emergence and evolution of
the global financial inclusion agenda? And what does the politics of
the agenda tell us about the impacts of new technologies on global politics and how ideas become global agendas? 

Drawing
on an original collection of primary documents and interviews with
elites from Ghana, the United Kingdom, the United States, and
Switzerland, Financial Inclusion: How an Idea Became a Global Agenda (Stanford University Press, 2026) traces the global financial inclusion
agenda over time and interrogates its adaptation in specific contexts
and issue areas. Through the concept of participatory ambiguity, Dr.
Girard offers a novel explanation of the agenda that advances important
debates in international relations and international political economy
on the distribution of power and authority in global governance.

This interview was conducted by Dr. Miranda Melcher whose book
focuses on post-conflict military integration, understanding treaty
negotiation and implementation in civil war contexts, with qualitative
analysis of the Angolan and Mozambican civil wars. You can find
Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts. 
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Privatising Humanity: How Our Essential Human Needs Became Financial Assets (Manchester UP, 2026) is the latest book from Dr Kate Bayliss, a Senior Research Fellow in the Department of Economics at SOAS, University of London. Dr Bayliss’ excellent title, published with Manchester University Press, is a critical examination of the privatisation paradigm.

In the book, Dr Bayliss specifically analyses the history, processes, political economy and outcomes of privatisation policies in Britain across three major economic sectors – that of water, energy, and housing. Infamously, Britain was arguably in the vanguard of a proliferation of privatisation policies in the 1980s, courtesy of then Prime Minister Margaret Thatcher, a key proponent of the neoliberal revolution at this time. Privatisation was touted as a solution for increased efficiency, the creation of a shareholder society, and relieving taxpayer burdens. Dr Bayliss’ book, Privatising Humanity, is a crucial tool to understand how privatisation policies were applied, who benefited, and whether the outcomes lives up to these expectations. It is both an exceptionally detailed account of the web of interests that have profited from privatisation, on the one hand, and on the other, a highly accessible volume that is critical reading in this current moment.

Elliot Dolan-Evans is a sessional lecturer and tutor in law at Monash University and RMIT. His research investigates the political economy of global capitalism, forms of international governance, and questions of war and peace. His first book, Making War Safe for Capitalism: The World Bank, IMF and the Conflict in Ukraine, is now out with Bristol University Press.
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Indonesia is often framed as a key arena of China-Japan-US competition in the Second Cold War. In this episode, we talk with Trissia Wijaya about her book on the political economy of Chinese and Japanese infrastructure financing in Indonesia. She challenges the view that it is simply an instrument of competition and instead situates infrastructure finance within Indonesia’s own development strategies. She shows how development assistance, commercial loans, export credits, and public-private partnerships are shaped by contestation among Chinese and Japanese capital, as well as Indonesian civil society, state actors, and labor. We also link these dynamics to the country’s changing industrial policy, from energy infrastructure to Nickel processing to the planned capital of Nusantara, asking how Indonesia uses strategies of polyalignment and foreign finance to pursue its own developmental ambitions.

—

Trissia Wijaya is a McKenzie Research Fellow at the Asia Institute at the University of Melbourne. Prior to this role, she worked as a Senior Research Fellow at Asia-Japan Research Organization, Ritsumeikan University, and taught at the College of Global Liberal Arts. She received her PhD in Politics from Murdoch University, Australia, and remains affiliated as an Honorary Research Fellow at the Indo-Pacific Research Centre there. She has also worked at the Asian Development Bank and UNDP Indonesia, cultivating an interest in the political economy of development and evidence-informed policymaking. Her research spans green infrastructure financing, industrial policy, and critical mineral development. She has conducted intensive fieldwork across Indonesia, Japan, and China.

The Political Economy of Japanese and Chinese Infrastructure Financing Governance: Organizing Alliances, Institutions, and Ideology (Bristol University Press 2025)

Indonesia, nickel, and the political economy of polyalignment in the Second Cold War in Third World Quarterly

An EV-fix for Indonesia: the green development-resource nationalist nexus in Environmental Policy
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Commercial seafaring, both dangerous and with large amounts of capital at stake, was the source of the risk-management institutions that still undergird the global economy today. A key institution of early modern risk management was General Average, a procedure used to redistribute extraordinary costs arising from a maritime venture between all financially interested parties. For example, should one merchant’s cargo be jettisoned to lighten a ship in a storm, the loss would be shared pro rata by the shipper and all the cargo-owners. A risk-sharing practice, different from the risk-shifting of marine insurance which became established relatively late, General Average is still in widespread use.

In Managing Maritime Risk in Early Modern Europe: General Average in Law and Practice in Seventeenth-Century Tuscany (Boydell Press, 2025), Jake Dyble explores how General Average worked. It reveals the gap between General Average in law and how it worked on the ground. It shows how General Average partitioned a wide array of business costs, thereby performing a significant role in structuring maritime commerce, managing risk and promoting shipping and trade. In addition, the book discusses how far General Average was a feature of a supposedly ancient, universal, customary maritime law, and contributes to debates about the evolution of institutions in economic development.

Dr Jake Dyble is a postdoctoral researcher at the University of Padova, Italy.

This interview is conducted by Dr Lewis Wade, a Humboldt Research Fellow at the University of Bamberg. He is the author of the prize-winning Privilege, Economy and State in Old Regime France and can be found on Bluesky @wadehistory.bsky.social.
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In Wild Tides: Media Infrastructure and Financial Crisis in Ireland (Duke University Press, 2026),
Patrick Brodie maps the shifting fortunes of the Irish economy before
the 2008 financial crisis up to 2020, outlining how the Irish state
moved from rampant and irresponsible financialized development to
incentivizing private media infrastructure and policy as instruments for
economic recovery. Brodie contends that while the Irish state’s
investment in creative and technological sectors of media was supposed
to bring resources back into the country and stabilize the economy, it
instead rendered the country even more vulnerable to future instability
and transferred wealth into the hands of multinational corporations.
Through ethnographic work and close engagement with the Irish state’s
policy and planning across a number of key media infrastructure sites,
Brodie unfolds the very real environmental and social impacts of
Ireland’s naturalized model of financialized, foreign direct
investment-led infrastructural development. Richly researched and
comprehensively argued, Wild Tides reveals the multifarious, unexpected ways that financialization reaches into the daily life of a nation.
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