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Politics and International Relations (PIR): People


Iain Hardie

Iain Hardie
Dr Iain Hardie
Senior Lecturer in International Relations
B.1 22 George Square Edinburgh UK EH8 9LF
+44 (0)131 650 4249
Research Interests
Comparative Political Economy, International Political Economy, Financial Markets, Financialization

Guidance and Feedback Hours

  • Wednesdays 10-12. Outside these times, please email for an appointment. My office is only accessible by steep stairs. If this might cause you problems, feel free to ask to meet in the CMB cafe. A university pass is needed to enter the building.


  • M.A. (Cantab.)
  • MSc (Edinburgh)
  • MSc by Research (Edinburgh)
  • PhD (Edinburgh)

Recent Posts

Iain completed his first degree in 1985 in History at Gonville and Caius College, Cambridge, before beginning an investment banking career in London and Hong Kong, specialising in emerging bond markets. He came to Edinburgh in 2001 to complete a part-time MSc in International and European Politics, before completing a PhD in 2003-07. His PhD examines the links between the financialization of government bond markets and emerging market government policy autonomy, focusing on case studies Brazil, Lebanon and Turkey. He also works with Donald Mackenzie on the sociology of financial markets.


Honours and MSc courses in The International Politics of Money.

Research Interests

Iain’s research interests include issues surrounding financial globalization, especially financialization and varieties of financial capitalism, focusing on the implications for both developed and developing countries. He convenes in International Political Economy Research Group and is a member of the International Relations Research Group. He is currently part of an ERC-funded research project with Donald Mackenzie on Evaluation Practices in Financial Markets, focusing on Government Bond Markets.

Selected Publications

'Financial Structure and the Development of Domestic Bond Markets' in Emerging Economies, 2018 (with Lena Rethel) Business and Politics, First View.

Chains of Finance: How Investment Management is Shaped Oxford University Press, 2017 (with Diane-Laure Arjailes, Philip Grant, Donald MacKenzie and Ekaterina Svetlova).

'Varieties of Capitalism and Banking in the EU' in Routledge Companion to Banking Regulation and Reform 2017.

'What is Patient Capital and Where Does It Exist?' in Socio Economic Review, 2017 (co-authored with Richard Deeg). 

'Bond Markets' in Handbook of Globalisation and Development, 2017 (with Lena Rethel).

'Atlas Constrained: The US External Balance Sheet and US Monetary Power' in Review of International Political Economy 2016 (co-authored with Sylvia Maxfield).

'EU Ring-Fencing and the Defense of Too Big to Fail Banks'  West European Politics 2016 (co-authored with Huw Macartney).

'The Lemon-Squeezing Problem: Analytical and Computational Limitations in Collaterized Debt Obligation Evaluation' Competition & Change 2014 (co-authored with Donald MacKenzie).

'Banks and the False Dichotomy in the Comparative Political Economy of Finance' in World Politics 2013 (co-authored with David Howarth, Sylvia Maxfield and Amy Verdun),

Market-Based Banking and the International Financial Crisis (co-edited with David Howarth). Oxford University Press, 2013.

Financialization and Government Borrowing Capacity in Emerging Markets, Palgrave Macmillan 2012.

'How Much Can Governments Borrow? Financialization and Emerging Markets Government Borrowing Capacity' in Review of International Political Economy 2011

'Die Krise but not La Crise? The Financial Crisis and the Transformation of German and French Banking Systems' in Journal of Common Market Studies 2009 (co-authored with David Howarth);

‘Constructing the Market Frame: Distributed Cognition and Distributed Framing in Financial Markets’ in New Political Economy 2007 (co-authored with Donald MacKenzie);

Topics interested in supervising

Iain welcomes enquiries from prospective students interested in research into issues surrounding the politics of markets, particularly financial markets, from an international political economy or comparative political perspective, and on financialization and its impact on governments. Research can cover any geographic area.

If you are interested in being supervised by Iain Hardie, please see the links below for more information:

PhD in Politics; MSc (R) Politics