Global Political Economy

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  • Edition: 5th
  • Format: Paperback
  • Copyright: 2010-01-01
  • Publisher: Longman
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Praised for its authoritative coverage,Global Political Economyplaces the study of IPE in its broadest theoretical context. This text not only helps students understand the fundamentals of how the global economy works but also encourages them to use theory to more fully grasp the connections between key issue areas like trade and development. Written by a leading IPE scholar,Global Political Economyequally emphasizes theory and practice to provide a framework for analyzing current events and long-term developments in the global economy.

Table of Contents

Prefacep. xi
Acronyms and Abbreviationsp. xvii
Introduction and Overviewp. 1
Introductionp. 2
What is International Political Economy?p. 2
The IPE Theoretical Perspectivesp. 4
Purposes and Themes of this Bookp. 5
Focus of this Bookp. 11
Questionsp. 13
Further Readingp. 13
Notesp. 14
Managing the Global Economy Since World War II: The Institutional Frameworkp. 17
Global Economic Relations Before World War IIp. 18
The Functions of the IMF, World Bank, and GATTp. 22
International Economic Organizations and the United Nationsp. 23
Postwar Economic Institutions and the Northp. 23
Postwar Economic Institutions and the Southp. 31
Postwar Economic Institutions and the Centrally Planned Economiesp. 38
Nonstate Actorsp. 42
Conclusionp. 43
Questionsp. 44
Further Readingp. 45
Notesp. 45
Theoretical Perspectivesp. 51
The Realist Perspectivep. 55
Basic Tenets of the Realist Perspectivep. 56
The Mercantilistsp. 58
Realism and the Industrial Revolutionp. 58
Realism in the Interwar Periodp. 59
Realism after World War IIp. 60
The Revival of Realist IPEp. 60
Hegemonic Stability Theory and Debates over U.S. Hegemonyp. 61
Realism and North-South Relationsp. 68
Critique of the Realist Perspectivep. 69
Questionsp. 70
Further Readingp. 71
Notesp. 71
The Liberal Perspectivep. 77
Basic Tenets of the Liberal Perspectivep. 77
Orthodox Liberalismp. 80
The Influence of John Maynard Keynesp. 81
Liberalism in the Postwar Periodp. 82
A Return to Orthodox Liberalismp. 82
Liberalism and Institutionsp. 84
Liberalism, Global Governance, and Regimesp. 89
Liberalism and Domestic-International Interactionsp. 90
Liberalism and North-South Relationsp. 92
Critique of the Liberal Perspectivep. 94
Questionsp. 96
Further Readingp. 96
Notesp. 97
Critical Perspectivesp. 103
Basic Tenets of Historical Materialismp. 103
Early Forms of Historical Materialismp. 106
Whither the Historical Materialist Perspective?p. 110
Constructivismp. 114
Feminismp. 116
Environmentalismp. 118
Critique of the Critical Perspectivep. 121
Questionsp. 123
Further Readingp. 123
Notesp. 124
The Issue Areasp. 130
International Monetary Relationsp. 131
The Balance of Paymentsp. 132
Government Response to a Balance-of-Payments Deficitp. 134
The Functions and Valuation of Moneyp. 138
International Monetary Relations Before Bretton Woodsp. 138
The Formation of the Bretton Woods Monetary Regimep. 140
The International Monetary Fundp. 141
The Functioning of the Bretton Woods Monetary Regimep. 142
The Regime of Floating (or Flexible) Exchange Ratesp. 148
Alternatives to the Current Monetary Regimep. 150
European Monetary Relationsp. 151
What is the Likely Future of the U.S. Dollar as the Key Currency?p. 153
Sovereign Wealth Fundsp. 157
Considering IPE Theory and Practicep. 158
Questionsp. 160
Further Readingp. 161
Notesp. 162
Global Trade Relationsp. 167
Trade Theoryp. 168
Global Trade Relations Before World War IIp. 172
GATT and the Postwar Global Trade Regimep. 173
Principles of the Global Trade Regimep. 174
Formation of the WTOp. 180
The WTO and the Global Trade Regimep. 184
The South and Global Trade Issuesp. 185
The Transition Economies and Global Trade Relationsp. 190
Civil Society and Global Trade Relationsp. 195
Trade and the Environmentp. 196
Considering IPE Theory and Practicep. 199
Questionsp. 201
Further Readingp. 201
Notesp. 202
Regionalism and the Global Trade Regimep. 209
Regionalism and the IPE Theoretical Perspectivesp. 211
Regionalism and Globalizationp. 212
A Historical Overview of RTAsp. 213
Explanations for the Rise of Regional Integrationp. 214
The GATT/WTO and RTAsp. 218
The European Unionp. 222
The North American Free Trade Agreementp. 229
Mercosurp. 234
East Asian Regionalismp. 236
Considering IPE Theory and Practicep. 239
Questionsp. 241
Further Readingp. 242
Notesp. 242
Multinational Corporations and Global Productionp. 250
Definitions and Terminologyp. 251
Why do Firms Become MNCs?p. 252
The Historical Development of FDIp. 254
MNC-Host Country Relations: Determinants and Effects of FDIp. 262
Host Country Policies Toward MNCsp. 265
MNC-Home Country Relationsp. 269
A Regime for FDI: What is to be Regulated?p. 276
Bilateral Investment Treatiesp. 277
United Nationsp. 278
Regional Approaches: The EU and NAFTAp. 279
The GATT/WTO to the OECD and Back to the WTOp. 281
Private Actorsp. 283
Considering IPE Theory and Practicep. 284
Questionsp. 287
Further Readingp. 287
Notesp. 288
International Developmentp. 296
IPE Perspectives and North-South Relationsp. 298
Official Development Assistancep. 299
The World Bank Groupp. 303
LDC Development Strategiesp. 308
Import Substitution Industrializationp. 309
Socialist Development Strategiesp. 312
Export-Led Growthp. 313
The Revival of Orthodox Liberalismp. 319
Another Shift in Development Strategy?p. 324
Considering IPE Theory and Practicep. 330
Questionsp. 332
Further Readingp. 333
Notesp. 334
Foreign Debt and Financial Crisesp. 341
What is a Debt Crisis?p. 341
The Origins of the 1980s Debt Crisisp. 343
The Foreign Debt Regimep. 348
Strategies to Deal with the 1980s Debt Crisisp. 355
Transition Economies and Foreign Debtp. 363
The IMF, World Bank, and the Debt Crisisp. 365
The 1990s Financial Crisisp. 367
The Global Financial Crisis-2008 to?p. 371
Considering IPE Theory and Practicep. 373
Questionsp. 375
Further Readingp. 375
Notesp. 376
Concluding Commentsp. 382
Current Trends in the Global Political Economyp. 383
Globalizationp. 383
North-North Relationsp. 394
North-South Relationsp. 400
A Final Word on IPE Theory and Practicep. 404
Notesp. 405
Glossaryp. 409
Indexp. 419
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