'This ambitious study opens up the black box of how power and institutions interact in the rapidly changing post-Crisis world of global economic governance. Kaya exposes the tensions between the formal and informal faces of power in the struggle to influence both rules and outcomes across the World Bank, the IMF, and the emerging G20 process. Her analysis tells us that where the 'declining old' might prove too slow in ceding their formal institutional prerogatives, the 'rising new' may up the ante and take the game elsewhere to new forums. Global governance thus becomes less predictable and institutions less effective at adapting to the need for change. In short, Kaya's analysis shows us how familiar institutions remain a potentially fragile part of an increasingly fragile world order. A 'must' for scholars and students alike.' Geoffrey Underhill, University of Amsterdam

'Increasingly, students of international political economy are returning to consideration of the role of power in the functioning of the world economy. With this thoughtful analysis, Ayse Kaya makes a notable contribution to current debates, focusing in particular on the relationship between the economic power of states and formal power in multilateral institutions. Even seasoned specialists will find much to learn in this knowledgeable and well-crafted study.' Benjamin Jerry Cohen, University of California, Santa Barbara