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The Transformation of the International Financial Order and the Redefinition of “Embedded Liberalism” : Governance Challenges Presented Concerning Crypto-Assets
https://doi.org/10.18896/0002000196
https://doi.org/10.18896/0002000196c8acd9be-04c1-4ff1-9d7a-94c6a2bb9cf7
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
函大論究57-1_04参川.pdf (1.9 MB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||||||
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| 公開日 | 2026-01-27 | |||||||||
| タイトル | ||||||||||
| タイトル | The Transformation of the International Financial Order and the Redefinition of “Embedded Liberalism” : Governance Challenges Presented Concerning Crypto-Assets | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Embedded Liberalism | |||||||||
| キーワード | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Crypto-Assets | |||||||||
| キーワード | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Multilayered Governance | |||||||||
| キーワード | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Bretton Woods System | |||||||||
| キーワード | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Disembedding/Re-embedding | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||||
| 資源タイプ | departmental bulletin paper | |||||||||
| ID登録 | ||||||||||
| ID登録 | 10.18896/0002000196 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
参川, 城穂
× 参川, 城穂
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| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | The modern international financial order is undergoing significant structural transformation driven by globalization and digital technological innovation. This paper analyzes this transformation from the perspective of “embedded liberalism,” which formed the foundation of the postwar order. This paper examines the history of how the Bretton Woods system achieved both international liberalization and domestic social stabilization through capital mobility restrictions, verifying that financial liberalization since the 1970s led to governance hollowing out. It then clarifies that while the rise of crypto assets demonstrates a “de-embedding” logic that circumvents centralization, it simultaneously triggers attempts at “re-embedding” through regulation. The risks of decentralized finance (DeFi) and regulatory fragmentation are difficult to address with conventional governance. Therefore, we conclude that transitioning to a “multi-layered governance model” where states, international institutions, and the protocol layer interact is essential for ensuring the stability of the future international financial order. This amounts to building a modern version of “embedded liberalism” that reconciles the freedom of technological innovation with social stability. |
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| 言語 | en | |||||||||
| bibliographic_information |
ja : 函館大学論究 巻 57, 号 1, p. 61-85, 発行日 2025-10-31 |
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| 出版者 | ||||||||||
| 出版者 | 函館大学 | |||||||||
| 言語 | ja | |||||||||
| item_10002_source_id_9 | ||||||||||
| 収録物識別子タイプ | PISSN | |||||||||
| 収録物識別子 | 02866137 | |||||||||
| item_10002_source_id_11 | ||||||||||
| 収録物識別子タイプ | NCID | |||||||||
| 収録物識別子 | AN00204857 | |||||||||
| 出版タイプ | ||||||||||
| 出版タイプ | AM | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||||
