【新刊速递】《新政治经济》(NPE)， Vol.30， No.2， 2025

摘要：《新政治经济学》（New Political Economy）是一份涵盖国际政治经济学研究的双月刊同行评审学术期刊。其成立于1996年，由Routledge出版社出版。本刊是国际政治经济学领域的主流期刊之一，与《国际政治经济学评论》（Review of Int

期刊简介

《新政治经济学》（New Political Economy）是一份涵盖国际政治经济学研究的双月刊同行评审学术期刊。其成立于1996年，由Routledge出版社出版。本刊是国际政治经济学领域的主流期刊之一，与《国际政治经济学评论》（Review of International Political Economy）并列。2022年该刊影响因子为4.2。

本期目录

1 国际金融分工：重新评估金融化资本主义中的边缘状况

The International Division of Finance: reassessing the peripheral condition in a financialised capitalism

2 当数字税到期时：国家数字税与经合组织包容性框架的谈判

When digital taxes come due: national digital taxes and the negotiation of the OECD inclusive framework

3 绿色新政中的国家、资本和民族：英国工党 2019 年计划的启示

State, capital and nation in Green New Deal Politics: lessons from the British Labour Party’s 2019 programme

4 应对平台公司权力：各国的不同对策

Responding to platform firm power: differing national responses

5 策划反思：行业活动与另类金融的表演政治

Curating reflexivity: industry events and the performative politics of alternative finance

6 算法治理还是敲诈勒索？尼日利亚金融科技贷款的日常体验

Algorithmic governance or extortion? Everyday experiences of fintech for loans in Nigeria

7 伊斯兰金融的金融化：从波兰尼的角度看市场逻辑对伊斯兰逻辑的霸权作用

Financialisation of Islamic finance: a Polanyian approach on the hegemony of market logic over Islamic Logic

8 快速去碳化的绿色经济规划

Green economic planning for rapid decarbonization

9 通过次级抵押贷款的历史反思金融化下的掠夺：一个掠夺金融的案例

Rethinking predation under financialisation through the history of subprime mortgages: a case of raiding finance

内容摘要

国际金融分工：重新评估金融化资本主义中的边缘状况

题目：The International Division of Finance: reassessing the peripheral condition in a financialised capitalism

作者：Édivo de Almeida Oliveira，坎皮纳斯大学经济学博士研究生；Bruno De Conti，坎皮纳斯大学助理教授。

摘要：本文以拉丁美洲结构主义理论为基础，且主张需要在当前的历史背景下（以金融化和金融全球化为特征）进行讨论，研究了全球经济的中心-边缘配置，重点关注货币-金融领域。更具体地说，本文旨在分析边缘国家在当前国际货币和金融体系（IMFS）中的作用。在与国际分工（IDL）相关讨论的对话中，文章提出了国际金融分工（IDF）及其相应的结构差异和结构趋势，并将其概念化。文章认为，国际金融分工并非偶然，而是在国际金融循环中的财富再生产模式中发挥着根本性的作用。通过对 2000-2023 年间 212 个国家的数据进行实证分析，文章证明了财富从边缘国家向中心国家转移的结构性趋势。它与 IDL（当代形式）一起，产生了 “财富的双重攫取”。因此，IDL 和 IDF 产生了反馈效应，加深了边缘国家的从属地位、经济政策缺乏自主性和脆弱性。

Based on the Latin American structuralist theory, but advocating for a need of framing the discussions in the current historical context – characterised by financialisation and financial globalisation –, this article investigates the centre-periphery configuration of the global economy with the focus on the monetary-financial sphere. More specifically, it aims to analyse the role of the peripheral countries for the current International Monetary and Financial System (IMFS). In a dialogue with the discussions related to the International Division of Labour (IDL), the article thence proposes and conceptualises the International Division of Finance (IDF), as well as its corresponding structural differentiation and structural tendency. It argues that the IDF is not accidental, but plays a fundamental role in the modus operandi of the reproduction of wealth in international financial circuits. Through an empirical analysis with data from 212 countries for the period 2000-23, the article demonstrates a structural tendency of transfer of wealth from periphery to central countries. Along with the IDL (in its contemporary format), it generates a ‘double-capture of wealth’. As a result, the IDL and the IDF have feedback effects, deepening the subordination, the lack of autonomy for economic policy and the vulnerability of peripheral countries.

当数字税到期时：国家数字税与经合组织包容性框架的谈判

题目：When digital taxes come due: national digital taxes and the negotiation of the OECD inclusive framework

作者：Jonas Heering，乔治城大学国际关系博士研究生。

摘要：是什么原因导致了国际税务合作的重大转变？现有文献主要强调美国是成功改革的核心，或者强调跨国公司对全球税率施加下调压力的力量。然而，2021 年，经合组织包容性框架（IF）成员同意根据市场活动而非实际存在对一些最大的跨国公司征税--这是美国政府和美国跨国公司（MNCs）长期以来一直反对的对国际税收制度的根本性变革。本文认为，数字价值链的传播使跨国公司的活动受到更多监管活动的影响，从而使政府可以利用单边监管行动作为国际谈判的筹码。通过改变回归点--没有国际协议的现状--各国政府能够共同改变协议。本研究通过研究国家数字服务税（DST）的实施如何影响经合组织国际论坛的谈判来证明本研究的论点。通过与主要利益相关者的访谈和原始资料，本文发现，包括法国和印度在内的国家采用数字服务税，以及数字服务税的进一步扩散威胁，促使美国放弃了其长期以来对国际框架进程部分内容的反对。

What explains major shifts in international tax cooperation? Existing literature emphasises either the centrality of the United States for successful reform or the power of multinational corporations to exert downward pressure on global tax rates. Nonetheless, in 2021 members of the OECD Inclusive Framework (IF) agreed to tax some of the largest multinational companies based on their market activities rather than physical presence – a fundamental change to the international taxation regime that the U.S. government and U.S. multinational corporations (MNCs) had long opposed. We argue that the spread of digital value chains has exposed the activities of MNCs to greater regulatory activity, allowing governments to use unilateral regulatory action as leverage in international negotiations. By shifting the reversion point – the status quo absent an international agreement – governments were collectively able to transform an agreement. We demonstrate our argument by examining how the implementation of national digital services taxes (DSTs) affected the OECD IF negotiations. Drawing on interviews with key stakeholders and primary sources, we show that the adoption of DSTs, including in France and India, and the threat of additional proliferation of DSTs, pushed the United States to drop its longstanding opposition to parts of the IF process.

绿色新政中的国家、资本和民族：英国工党 2019 年计划的启示

题目：State, capital and nation in Green New Deal Politics: lessons from the British Labour Party’s 2019 programme

作者：Mary Robertson，玛丽女王大学商业转型与可持续性讲师。

摘要：绿色新政（GND）已成为可持续发展转型的重要进步议程，但将其发展为政府具体方案的尝试却寥寥无几。本文探讨了这样一种尝试--杰里米-科尔宾领导下的英国工党提出的 GND 建议--以及它如何应对更广泛的 GND 议程所面临的三个关键挑战：对国家的依赖、与资本的关系以及西方中心主义。本文认为，这些挑战导致了工党提案中的紧张关系：既将国家视为变革的工具，又将其视为变革的对象；对资本主义作为一种经济体系的矛盾态度；以及努力调和民族主义与国际主义的竞争力量。本研究通过考察这些挑战以及工党为克服这些挑战所做的努力，为我们了解绿色新政愿景的混乱政治提供了宝贵的见解。

The Green New Deal (GND) has emerged as a crucial progressive agenda for sustainability transition, but there have been few attempts to develop it into a concrete programme for government. This paper considers one such attempt – the GND proposals put forth by the British Labour Party under Jeremy Corbyn – and how it tackled three key challenges faced by the broader GND agenda: its reliance on the state, its relationship with capital, and its Western centrism. The paper argues that these challenges gave rise to tensions within Labour’s proposals: treating the state both as an instrument and as an object of change, ambivalence towards capitalism as an economic system and struggling to reconcile the competing forces of nationalism and internationalism. By examining these challenges and Labour's efforts to overcome them, this study provides valuable insights into the messy politics of enacting Green New Deal visions.

应对平台公司权力：各国的不同对策

题目：Responding to platform firm power: differing national responses

作者：Angela Garcia Calvo，雷丁大学亨利商学院讲师；Martin Kenney，加州大学戴维斯分校人类生态社区与区域发展系教授；John Zysman，加州大学伯克利分校政治学教授。

摘要：由于意识到平台公司的力量和平台经济的风险，各国政府正在重新考虑占主导地位的自由放任方法，转而采取监管平台公司力量的战略。跨国动态在形成新兴国家制度方面发挥着重要作用，但本文认为，各国政府还受到主要在国内运作的三个因素的影响：平台公司的代理、美国先行者平台的影响以及国内政治。本文通过分析美国、欧盟、中国和印度四个经济体的发展轨迹和监管措施来说明本研究的方法。随着治理工作扩展到人工智能等新兴技术，本文的分析预示着除少数重要例外情况外，相对无国界的全球网络经济结构将发生更广泛的变化。

Aware of the power of platform firms and the risks of the platform economy, governments are reconsidering the dominant laissez faire approach in favour of strategies that regulate the power of platform firms. transnational dynamics play an important role in shaping emerging national regimes, but we argue that governments are also influenced by three factors that operate primarily at domestic level: the agency of platform firms, the impact of first-mover US platforms, and domestic politics. We illustrate our approach through an analysis of the trajectories and regulatory measures of four economies: the US, the EU, China, and India. As governance efforts expand to emerging technologies such as AI, our analysis presages broader changes to the structure of what was, with a few important exceptions, a relatively borderless global online economy.

策划反思：行业活动与另类金融的表演政治

题目：Curating reflexivity: industry events and the performative politics of alternative finance

作者：Marco Andreu，华威大学研究员；Ruben Kremers，约翰内斯·古腾堡美因茨大学博士后研究员；Lena Rethel，华威大学国际政治经济学教授。

摘要：本文探讨了行业活动在策划金融业反思性方面的作用。通过对与社会企业债券和伊斯兰金融相关的行业活动的研究，文章指出了策划反思性的三个重要机制。首先，行业活动作为基础框架，创造了历史叙事和起源故事，使来自不同背景的专业人士产生了共同的社会目的感和方向感；其次，行业活动作为审议空间，市场合理性在此得到展示、挑战和协商；第三，行业活动作为网络节点，替代性市场主体在此得到培养、验证和塑造。本文认为，这三种机制共同在另类金融中发挥着反思政治的作用。与那些认为另类金融试图压制政治对抗的研究相反，本研究揭示出，正是在此类活动中表现出的异议和外部声音创造了可信度和稳定性。

This article examines the role of industry events in curating reflexivity within the financial sector. Through an examination of industry events related to impact bonds and Islamic finance, it identifies three important mechanisms through which reflexivity is curated. First, industry events act as foundational frames, creating historical narratives and origin stories that conjure up a shared sense of social purpose and direction amongst professionals from different backgrounds; second, they act as deliberative spaces where market rationalities are presented, challenged, and negotiated; and third, they act as networking nodes where alternative market subjectivities are cultivated, validated, and shaped. Together, we argue, these three mechanisms perform a politics of reflexivity within alternative finance. In contrast to investigations arguing that alternative finance seeks to silence political confrontation, our work reveals that it is the very performance of dissent and outside voices at such events that creates credibility, and stability.

算法治理还是敲诈勒索？尼日利亚金融科技贷款的日常体验

题目：Algorithmic governance or extortion? Everyday experiences of fintech for loans in Nigeria

作者：Shuaib Jalal-Eddeen，伦敦大学学院全球繁荣学院博士研究生。

摘要：本文旨在了解尼日利亚金融科技用户的日常金融化普惠体验。社会科学学者对全球南方国家利用金融科技推动金融包容性的做法表示担忧，认为这种做法利用不透明的算法提取用户的行为数据，向他们提供无担保信贷，并通过转售将他们的数据货币化，从而扩大了金融化进程。在各种情况下，人们对这些做法的后果并不完全了解。本文采用多种人种学方法，研究了尼日利亚希梅塔地区采用和使用金融科技的模式。它表明，虽然金融科技允许人们在不稳定的环境中解决个人问题，但它也与算法治理问题纠缠在一起，从而助长了算法勒索，损害了用户群体的利益。最后，本文认为，与金融科技释放繁荣潜力的说法相反，金融科技为盈利和积累开辟了新的可能性，尽管会对用户群造成严重后果。

This paper aims to understand the everyday experiences of financialised inclusion amongst fintech users in Nigeria. Concerns about the use of fintech to drive financial inclusion in the global south have led social scientific scholars to argue that it extends processes of financialisation by employing opaque algorithms to extract the behavioural data of users in order to inundate them with unsecured credit and monetise their data through resale. The consequences of these practices are not fully understood across various contexts. Using a variety of ethnographic methods, this paper examines patterns of fintech adoption and usage in Jimeta, Nigeria. It demonstrates that while fintech allows people to sort out their personal issues amidst precarity, it is also entangled in algorithmic governance issues that facilitate algorithmic extortion to the detriment of user populations. Ultimately, the paper argues that fintech, contrary to claims about its potential to unlock prosperity, is one that opens up novel possibilities for profit making and accumulation, albeit with severe consequences on user populations.

伊斯兰金融的金融化：从波兰尼的角度看市场逻辑对伊斯兰逻辑的霸权作用

题目：Financialisation of Islamic finance: a Polanyian approach on the hegemony of market logic over Islamic Logic

作者：Mehmet Asutay，杜伦大学商学院教授；Isa Yilmaz，伊斯坦布尔医学大学经济学系副教授。

摘要：金融在新兴经济体的显著崛起证明，金融化并不局限于发达经济体。在金融资本主义蔓延到每个角落的同时，金融化也以各种金融资本的形式出现在新兴经济体中。尽管伊斯兰金融市场在理论上具有反霸权的构造，但它并没有在这种渗透中脱颖而出。因此，本文旨在探讨伊斯兰金融在那些伊斯兰金融已占据重要地位的国家的金融化进程中发挥的作用。基于克里普纳的金融化方法，本文对伊斯兰金融的金融化进行了研究，得出的结论是，金融资本的力量导致了以道德为支撑的金融体系与新自由主义逻辑的变异或嫁接。经验分析支持的话语分析表明，由于伊斯兰金融脱离了其真正的新颖性，它已成为新自由主义议程的混合产物。这一点在其鼓励举债的金融工具中显而易见，这加剧了实体经济与金融经济之间的差距。本文的贡献在于其契约层面的分析，重点关注伊斯兰银行和金融的运作和工作机制，以及它是如何被金融资本引入歧途的。

The significant rise of finance in emerging economies evidenced that financialisation is not limited to advanced economies. While financial capitalism spreads to every corner, financialisation appears in emerging economies in the form of variegated finance capital. Despite its theoretically counter-hegemonic construct, Islamic financial markets do not stand out of this permeation. This paper, hence, aims to explore the role of Islamic finance in making inroads into financialisation in the countries where Islamic finance has reached a significant presence. Based on Krippner’s approach to financialisation, this paper examines the financialisation of Islamic finance by concluding that the strength of finance capital resulted in variegating or grafting a morally backed financial system into the neoliberal logic. The discursive analysis supported by empirical analysis suggests that due to the observed dis-embeddedness of Islamic finance away from its genuine novelty, it has become a hybrid product of the neo-liberal agenda. This is evident in its debt-encouraging financial instruments, which worsens the gap between the real and financial economy. The contribution of this paper is evident in its contractual-level analysis, which focuses on the operational and working mechanism of Islamic banking and finance and how it has been led astray by the finance capital.

快速去碳化的绿色经济规划

题目：Green economic planning for rapid decarbonization

作者：Cornel Ban，哥本哈根商学院国际政治经济学副教授； Jacob Hasselbalch，哥本哈根商学院组织学副教授。

摘要：可持续的未来需要深刻的社会和经济变革，以充分应对气候变化。目前的政府间和市场协调格局无法实现这一目标。为此，政治经济学研究正围绕绿色国家的概念展开，以纠正现状。尽管人们对绿色国家的兴趣再度升温，但许多研究都是在特定问题的孤岛上进行的，没有探索它们之间的协同作用。本文的贡献在于呼吁制定以 “绿色经济规划 ”为重点的综合议程，这是一种由国家主导的去碳化形式，国家通过这种形式设计并实施宏观金融架构、产业政策和私营部门激励措施之间的结构互补。本文从战后民主国家指示性规划的历史案例、国家部门规划的当代案例以及跨国公司的规划中为这一方法提供了证据。本文不仅借鉴了政治经济学，还参考了商业、环境、能源和经济史领域的学术成果。最后，本文提出了一个新的研究议程，重点关注分级协调机构中的国家规划能力，并将跨国公司作为研究实验室，研究国家规划所需的组织和技术基础设施。

Sustainable futures require deep social and economic transformations to address climate change adequately. The current landscape of intergovernmental and market-based coordination is not delivering this outcome. In response, political economic scholarship is congregating around the concept of the green state as a corrective to the status quo. In spite of this resurgence of interest in the green state, much research takes place in issue-specific silos without exploring synergies between them. Our contribution is to call for an integrative agenda focused on ‘green economic planning’, a form of state-led decarbonisation whereby the state designs and implements structural complementarities between macro-financial architectures, industrial policy, and private sector incentives. Our evidence for this approach is taken from historical cases of indicative planning in post-war democracies, contemporary cases of sectoral planning by states, and finally, planning by multinational corporations. We draw not only on political economy but also on scholarship in the fields of business, environment, energy and economic history. The upshot is a new research agenda focusing on state planning capacity in hierarchical coordination institutions and multinational corporations as research laboratories for the study of the organisational and technological infrastructure needed for state planning.

通过次级抵押贷款的历史反思金融化下的掠夺：一个掠夺金融的案例

题目：Rethinking predation under financialisation through the history of subprime mortgages: a case of raiding finance

作者：Pasquale Emanuele De Girolamo，米兰大学博士后研究员。

摘要：“食利者”模式为概念化金融化的掠夺性特征提供了一个有影响力的框架。该模型认为，金融化赋予了食利者阶层权力，他们通过控制稀缺的资金并向他人收取使用费来施加影响。次级抵押贷款的发展经常被作为食利者剥削的典型例子，银行利用历史上被边缘化的借款人进行资本运作。本文重温了这段历史，认为金融化下的掠夺在历史上偏离了租界化。具体而言，次贷并非由符合食利化的实体开发，而是由在既有金融体系之外运作的房地产参与者开发的。后者由于能够通过债务获得大量资金，从而减少了对自有资本的依赖，从而发展了掠夺性能力。这导致了次级抵押贷款的产生，这些贷款侧重于房屋资产剥离，对维持其融资模式至关重要。基于这些见解，本研究引入了 “掠夺 ”的概念，将其作为一种掠夺形式，强调以快速提取资金为中心的做法，以及更为传统的食利主义。

The ‘rentier’ model provides an influential framework for conceptualising the predatory traits of financialisation. It asserts that financialisation has empowered a class of rentiers who wield influence by controlling scarce money and charging others for its use. The development of subprime mortgages is often cited as a prime example of rentier exploitation, wherein banks capitalised on historically marginalised borrowers. This article revisits this history to argue that predation under financialisation has historically deviated from rentierisation. Specifically, subprime mortgages were not developed by entities fitting the rentier model, but rather by real estate actors operating outside the established financial system. The latter developed predatory capabilities by virtue of their ability to secure substantial funds through debt, thus reducing reliance on their own capital. This led to the creation of subprime mortgages, loans focused on home-equity stripping, which were crucial to sustain their funding model. Building on these insights, this study introduces the concept of ‘raiding’ as a form of predation that emphasises practices centred on the rapid extraction of money, alongside more traditional forms of rentierism.

译者：王涵婧，国政学人编译员，伦敦大学学院美国研究，研究兴趣：中美关系、文化软实力。

审校 | 赖永祯

排版 | 张奕睿

本文源于《新政治经济》（NPE） Vol. 30, No. 2, 2025，本文为公益分享，服务于科研教学，不代表本平台观点。如有疏漏，欢迎指正。