2000/08/01 by Aihwa Ong · 1 citation
Economics, Econometrics and Finance · Social Sciences · #Global Financial Crisis and Policies #Global Financial Regulation and Crises #International Development and Aid
paper · doi:10.1177/02632760022051310
openalex publication_date 2000/08/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29
What fundamental changes in the state, and in the analysis of the state, have been stimulated by economic globalization? In the course of interactions with global markets and regulatory agencies, so-called Asian tiger countries like Malaysia and Indonesia have created new economic possibilities, social spaces and political constellations, which in turn condition their further actions. The shifting relations between market, state, and society have resulted in the state's flexible experimentations with sovereignty. Graduated sovereignty refers to a) the different modes of governing segments of the population who relate or do not relate to global markets; and b) the different mixes of legal compromises and controls tailored to the requirements of special production zones. The Asian financial crisis further demonstrates the concept of graduation in that the market-oriented agenda can mean different things, strengthening state power and protections in certain areas, but not in others.