International monetary relations: The question of power

This dissertation examines how states can and have used international currency relationships and arrangements to coerce other states. Its goals are to create a theory of currency power, demonstrate that such power has been exercised by states in the past, and consider the potential of such power. The focus is exclusively on the introduction of this power in the pursuit of security related (as opposed to economic) goals. The main arguments are that such power exists, and it has been utilized by states in the past, but it remains an underappreciated form of state power, both by states and (especially) scholars.; The dissertation deals with the questions of existence, demonstration, and potential in three separate parts. Part One frames the question with an examination of two related issues: international monetary relations and economic statecraft. The chapters in this part then consider what forms currency power can take, and compare these instruments with other types of economic coercion (such as trade sanctions). Part One also examines the economic mechanisms through which currency power operates.; Part Two examines more closely the main instruments of currency power established in Part One. Chapters here consider "Currency Manipulation", "Monetary Dependence", and "Systemic Disruption", the three primary forms of currency power. For each form, Part Two examines a number of specific historical episodes in order to demonstrate that such power has been employed in the past, and, more importantly, to generate specific theories about how these techniques have been introduced and to what ends. Part Three focuses on the potential of currency power, considering "missed opportunities" in history, and examining the utility of currency power in the present and the future.; This dissertation has important implications for both International Relations Theory and contemporary international politics. With regard to the former, this dissertation explores an underappreciated form of state power, and bridges the gap between international political economy and national security studies. As for the latter, theories of currency power will be vital for an understanding of the changes in Europe, both West (with regard to monetary integration) and East (with regard to convertibility), U.S. - Japanese relations, and influence attempts by large powers in the third world.