Global Political Economy

by Ravenhill, John

• ISBN13: 9780199570812
• ISBN10: 0199570817
• Edition: 3rd
• Format: Paperback
• Copyright: 2011-02-11
• Publisher: Oxford University Press

Summary

Featuring carefully edited contributions from an impressive line-up of international scholars,Global Political Economy,Third Edition, is an authoritative introduction that combines coverage of history and theoretical approaches with contemporary issues and debates. The expert contributors offer a diverse range of perspectives and insights into the relevance of global political economy within international relations. Fully up-to-date, the third edition features substantially revised chapters that reflect the latest developments in global political economy, particularly the events and outcomes of the 2008 financial crisis. The text is enhanced by pedagogical features and a two-color design. ACompanion Websiteoffers resources for students (a flashcard glossary, a timeline, and links) and instructors (PowerPoint-based slides, case studies, and figures and tables from the book).

Author Biography

John Ravenhill is a Professor of International Relations at the Australian National University.

Table of Contents

List of Figures	p. xiii
List of Boxes	p. xiv
List of Tables	p. xvi
Abbreviations	p. xvii
About the Contributors	p. xxii
Guided Tour of Textbook Features	p. xxiv
Guided Tour of the Online Resource Centre	p. xxvi
Theoretical Approaches to Global Political Economy	p. 1
The Study of Global Political Economy	p. 3
Prologue: The Great Recession of 2008-9	p. 4
The World Economy Pre-1914	p. 9
The World Economy in the Inter-War Period	p. 13
The World Economy Post-1945	p. 15
The Study of Global Political Economy	p. 19
The Historical Roots of Theoretical Traditions in Global Political Economy	p. 29
Introduction	p. 30
Why Realist IPE and Nationalist Political Economy are not Necessarily the Same Thing	p. 31
Why the IPE Textbook Account of Smithian Economic Liberalism is Usually Wrong	p. 37
Why the Historical Roots of Marxist IPE are Closer to Liberalism than is Commonly Assumed	p. 42
Methodological Distinctions to Sub-Divide the Field	p. 48
Disciplinary Distinctions to Sub-Divide the Field	p. 53
Conclusion	p. 62
Collaboration and Co-Ordination in the Global Political Economy	p. 67
Introduction	p. 68
Globalization and the Need for International Co-Operation	p. 68
International Co-Operation: A Strategic Interdependence Approach	p. 71
International Co-Operation: A Variety of Solutions	p. 79
The Formation and Evolution of Institutions	p. 82
Conclusion	p. 92
The Domestic Sources of Foreign Economic Policies	p. 96
Introduction	p. 97
Policy Preferences	p. 98
Institutions	p. 113
Conclusions, Extensions, and Complications	p. 121
Appendix 4.1	p. 133
Global Trade	p. 135
The Evolution of the Global Trade Regime	p. 137
Introduction	p. 137
Historical Antecedents: 1860 to 1945	p. 139
The ITO and the GATT: 1947 to 1948	p. 143
Multilateral Trade Negotiations: 1950s to 1980s	p. 147
The Uruguay Round and the WTO: 1986 to 1994	p. 151
The WTO in Action: 1995 and Beyond	p. 159
Conclusion	p. 170
Regional Trade Agreements	p. 173
Introduction	p. 174
Why Regionalism?	p. 177
The Rush to Regionalism	p. 186
The Political Economy of Regionalism	p. 195
The Economic Consequences of Regional Integration	p. 199
Regionalism and the WTO: Stepping Stone or Stumbling Block?	p. 202
Global Finance	p. 213
The Evolution of the International Monetary and Financial System	p. 215
Introduction	p. 216
The Fate of a Previous Globally Integrated Financial and Monetary Order	p. 217
The Bretton Woods Order	p. 220
The Globalization of Financial Markets	p. 223
The Collapse of the Gold Exchange Standard and the Future of the Dollar	p. 229
From Adjustable Pegs to Floating Exchange Rates	p. 235
Conclusion	p. 241
The Political Economy of Global Financial Crises	p. 244
Introduction	p. 244
National Politics and International Markets	p. 246
The Nature and Variety of International Financial Crises	p. 249
The Changing Global Context	p. 252
Crisis Prevention	p. 257
Crisis Management and Resolution	p. 265
A New Global Architecture?	p. 268
Globalization and its Consequences	p. 273
The Logics of Economic Globalization	p. 275
Introduction	p. 276
A Global Economy? 'Embedded Globalization' and the Rescaling of Economic Activity	p. 277
The Logics of Economic Globalization	p. 294
The Second Age of-Globalization: Another Extraordinary Episode?	p. 306
After the Crisis: The Prospects for Economic Globalization	p. 309
Globalization's Impact on States	p. 312
Introduction	p. 312
The Globalization of Politics and the Politics of Globalization	p. 314
Globalization and the Crisis of the Nation State	p. 316
Globalization and State Retrenchment: The Evidence Assessed	p. 324
Conclusions	p. 340
The Globalization of Production	p. 345
Introduction	p. 345
The Rise of Global Production	p. 347
Global Value Chains: Governance and Location	p. 353
China as the World's Factory	p. 361
Conclusion	p. 368
Globalization, Growth, Poverty, Inequality, Resentment, and Imperialism	p. 372
Introduction	p. 374
World Income Distribution	p. 377
Growth and Geographical Distribution	p. 380
Poverty	p. 383
Inequality	p. 389
Case Studies	p. 395
Globalization	p. 399
Does Inequality Matter?	p. 405
Conclusions	p. 408
Globalization and Development	p. 416
Introduction	p. 417
Ways of Thinking about Development	p. 418
Development Theory in Practice	p. 427
The Crisis of the Washington Consensus	p. 435
Responses to the Crisis of the Washington Consensus	p. 439
Interpreting the Relationship between Globalization and Development	p. 444
Conclusion: A New Era of Global Development?	p. 446
Globalization and the Environment	p. 450
Introduction: Globalization and Environmental Change	p. 451
History of Global Environmentalism	p. 456
Economic Growth, Trade, and Corporations	p. 462
A Sustainable Future? Financing and Regimes	p. 469
Conclusion	p. 478
Glossary	p. 481
References	p. 489
Index	p. 522
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