Global Political Economy

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Global Political Economy

Introduction to International Political Economy: The Study of International Political Economy

The study of international political economy developed rapidly as an academic discipline in the 1980s and 1990s. Scholars in this subject area generally adopt the theoretical perspectives of either liberalism or mercantilism in their efforts to understand the operations of the global economy.” (1)


Notes and References

Guide to International Political Economy

See Also

globalization, global political economy, international political economy, media, cultural studies, international relations, economics, international finance

Further Reading

  • Albert, M. (1993) Capitalism against Capitalism. London: Whurr.
  • Amsden, A.H. (1989) Asia’s Next Giant: South Korea and Late Industrialization. New York: Oxford University Press.
  • Archibugi, D., Held, D., and Köhler, M. (eds.) (1998) Re-Imagining Political Community: Studies in Cosmopolitan Democracy. Cambridge: Polity Press.
  • Barnet, R.J. (1974) Global Reach: The Power of the Multinational Corporations. London: Simon and Schuster.
  • Bichler, S., and Nitzan, J. (1996) Putting the State in its Place: US Foreign Policy and Differential Capital Accumulation in Middle East Energy Conflicts. Review of International Political Economy 3, 608–61.
  • Bobbitt, P. (2002) The Shield of Achilles: War, Peace and the Course of History. London: Allen Lane/Penguin.
  • Braudel, F. (1979) Civilization and Capitalism 15th–18th Century. New York: Harper and Row.
  • Bull, H. (1977) The Anarchical Society: A Study of Order in World Politics. London: Macmillan.
  • Cameron, A. (2008) Crisis? What Crisis? Displacing the Spatial Imaginary of the Fiscal State. Geoforum 39 (3), 1145–54.
  • Cartapanis, A., and Herland, M. (2002) The Reconstruction of the International Financial Architecture: Keynes’ Revenge? Review of International Political Economy 9 (2), 271–97.
  • Cavarero, A. (2008) Horrorism: Naming Contemporary Violence. New York: Columbia University Press.
  • Chandler, A.D. (1977) The Visible Hand: The Managerial Revolution in American Business. Cambridge: The Belknap Press of Harvard University Press.
  • Conca, K. (2000) The WTO and the Undermining of Global Environmental Governance. Review of International Political Economy 7 (3), 484–94.
  • Cox, R.W. (1987) Production, Power, and World Order: Social Forces in the Making of History. New York: Columbia University Press.
  • Cummings, B. (1984) The Origins and Development of the Northeast Asian Political Economy: Industrial Sectors, Product Cycles, and Political Consequences. International Organization 38 (1), 1–40.
  • Dicken, P. (1995) Global Shift: The Internationalization of Economic Activity, 3rd edn. London: Paul Chapman.
  • Dunning, J. (1997) Alliance Capitalism and Global Business. London: Routledge.
  • Evans, P., Rueschemeyer, D., and Skocpol, T. (1985) Bringing the State Back In. New York: Cambridge University Press, pp. 77–106.
  • Falk, R. (2003) On the Political relevance of Global Civil Society. In J.H. Dunning (ed.) Making Globalization Good: The Moral Challenges of Global Capitalism. Oxford: Oxford University Press, pp. 280–300.
  • Frankman, M.J. (2004) World Democratic Federalism: Peace and Justice Indivisible. London: Palgrave.
  • Geras, N. (1976) The Legacy of Rosa Luxembourg. London: New Left Books.
  • Gill, S. (1990) American Hegemony and the Transnational Commission. Cambridge: Cambridge University Press.
  • Gill, S., and Law, D. (1989) Global Hegemony and the Structural Power of Capital. International Studies Quarterly 33, 475–99.
  • Gilpin, R. (1987) The Political Economy of International Relations. Princeton: Princeton University Press.
  • Gowa, J. (1989) Rational Hegemons, Excludable Goods, and Small Groups: An Epitaph for Hegemonic Stability Theory? World Politics 41, 307–24.
  • Grieco, J.M. (1988) Realist Theory and the Problems of International Cooperation. Journal of Politics 50 (3), 577–99.
  • Haas, P. (1992) Introduction: Epistemic Communities and International Policy Coordination. International Organization 46 (1), 1–35.
  • Hall, P.A., and Soskice, D.W. (2001) Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford: Oxford University Press.
  • Harmes, A. (2001) Unseen Power: How Mutual Funds Threaten the Political and Economic Wealth of Nations. Toronto: Stoddart.
  • Hasenclever, A., Mayer, P., and Rittberger, V. (1997) Theories of International Regimes. Cambridge: Cambridge University Press.
  • Held, D., McGrew, A., Goldblatt, D., and Perraton, J. (1999) Global Transformations: Politics, Economics and Culture. Cambridge: Polity Press.
  • Hilferding, R. (1981/1910) Finance Capital: A Study of the Latest Phase in Capitalist Development. London: Routledge and Kegan Paul.
  • Hirst, P.Q. (1997) From Statism to Pluralism: Democracy, Civil Society and Global Politics. London: UCL Press.
  • Hodgson, G. (1996) Varieties of Capitalism and Varieties of Economic Theory. Review of International Political Economy 33, 381–434.
  • Jessop, B. (2002) The Future of the Capitalist State. Cambridge: Polity Press.
  • Kapstein, E.B. (1994) Governing the Global Economy: International Finance and the State. Cambridge: Harvard University Press.
  • Keohane, R.O. (1984) After Hegemony: Cooperation and Discord in the World Political Economy. Princeton: Princeton University Press.
  • Keohane, R.O., and Nye, J. (eds.) (1971) Transnational Relations and World Politics. International Organization 25 (3, Summer). Republished by Harvard University Press, 1972.
  • Kindelberger, C. (1973) The World in Depression 1929–1939. Berkeley: University of California Press.
  • Kindelberger, C. (1996) A History of Financial Crises: Mania, Panic and Crash. New York: John Wiley and Sons.
  • Lake, D.A. (1993) Leadership, Hegemony, and the International Economy: Naked Emperor or Tattered Monarch with Potential? International Studies Quarterly 37, 459–89.
  • MacKenzie, D. (2006) An Engine, Not a Camera: How Financial Models Shape Markets. Cambridge: MIT Press.
  • McMichael, P. (1996) Development and Social Change. A Global Perspective. Thousand Oaks: Pine Forge Press.
  • Milner, H.V. (1997) Interests, Institutions, and Information: Domestic Politics and International Relations. Princeton: Princeton University Press.
  • Moravcsik, A. (1997) Taking Preferences Seriously: A Liberal Theory of International Politics. International Organization 51 (4, Autumn), 513–53.
  • Nitzan, J. (1998) Differential Accumulation: Toward a New Political Economy of Capital. Review of International Political Economy 5 (2), 169–216.
  • Obstfeld, M. (1998) The Global Capital Market: Benefactor or Menace? Journal of Economic Perspectives 12 (4), 9–30.
  • Ohmae, K. (1990) The Borderless World: Power and Strategy in the Global Marketplace. London: Collins.
  • Olson, M. (1982) The Rise and Decline of Nations. Economic Growth, Stagflation and Social Rigidities. New Haven: Yale University Press.
  • Palan, R. (2002) Tax Havens and the Commercialization of Sovereignty. International Organization 56, 151–76.
  • Palan, R., and Abbott, J. (1996) State Strategies in the Global Political Economy. London: Pinter.
  • Palan, R., Murphy, R., and Chavagneux, C. (2010) Tax Havens: How Globalization Really Works. Ithaca: Cornell University Press.
  • Pauly, L. (1997) Who Elected the Bankers? Surveillance and Control in the World Economy. Ithaca: Cornell University Press.
  • Pijl, K. van der (1984) The Making of an Atlantic Ruling Class. London: Verso.
  • Pijl, K. van der (2006) Global Rivalries from the Cold War to Iraq. London: Pluto.
  • Putnam, R.D. (1988) Diplomacy and Domestic Politics: The Logic of Two-Level Games. International Organization 42, 427–60.
  • Robertson, R. (1992) Globalization: Social Theory and Global Culture. London: Sage.
  • Robert Gilpin, The Political Economy of International Relations (Princeton University Press, 1987)
  • Rogowski, R. (1989) Commerce and Coalition: How Trade Affects Domestic Political Alignment. Princeton: Princeton University Press.
  • Ruggie J.G. (2004) Reconstituting the Global Public Domain – Issues, Actors, and Practices. European Journal of International Relations 10 (4), 499–531.
  • Saxenian, A.L. (1996) Regional Advantage: Culture and Competition in Silicon Valley and Route 128. Cambridge: Harvard University Press.
  • Scott, A.J. (1998) Regions and the World Economy: The Coming Shape of Global Production, Competition and Political Order. Oxford: Oxford University Press.
  • Sklair, L. (2002) Globalization: Capitalism and its Alternatives. Oxford: Oxford University Press.
  • Soja, E. (2000) Postmetropolis: Critical Studies of Cities and Regions. Oxford: Blackwell.
  • Strange, S. (1987) The Persistent Myth of ‘Lost’ Hegemony. International Organization 41, 551–74.
  • Strange, S. (1998) Mad Money. Manchester: Manchester University Press.

8 thoughts on “Global Political Economy”

  1. As we have discovered in relation to the “credit crunch” of 2008, the emergent nature of power remains a pressing political, economic, and legal issue in the contemporary world.

  2. Globalization articulated by and through global political economy and the other social sciences is part of a debate about the nature and location of power once the state as an exclusive, sovereign “power container” can no longer be sustained.

  3. Partly in response to the emergent complexity of a global political economy, and the new constellations and spatializations of power it necessarily entails, “globalization” both in theory and practice has not been confined to big firms or governments. From the outset, globalization has been defined and shaped by a “new” politics of “global civil society” groups. The assertion that there is such a thing as a global civil society is a contentious one – the unbounded nature of the global clearly posing definitional as well as practical challenges to such an idea.

  4. This entry omits almost all discussion of politico-economic modeling which is necessary to validate research propositions. The application of social science tools common to econometric or politicometric testing is important. Recounting the history of their successes, failures, promises and application to the international political economy would have rounded out the state-of-the-art pertaining to con- temporary research on the international political economy.

    This is not to imply that theorists ought to be carried away with methodology and problems of quantification, something that happened in the 1960’s and 1970’s at the expense of confronting significant policy problems. I certainly do not favor more and more preciseness about less and less substance. I am convinced that the more important a problem is in international relations, the less susceptible it is to quantification. Nevertheless, meaningful empirical assessment is possible only when it takes place within a sound conceptual framework.

  5. Many writers are now seized with a heightened sense of urgency in reaction to the 2007 economic crisis. Authors are offering a variety of remedies concerning international competitiveness, foreign direct investment, international trade, monetary and finance systems, and a host of other specific matters. Going transnational is not confined to manufacturing firms. It is becoming imperative for any business that aims at a leadership position any place in the developed world.” This need significantly explains the boom in transnational direct investment and it requires probably concentration of efforts, not diversification.

  6. This entry, maybe more than any other, provides a systematic review and discussion of the conceptual context of Global Political Economy in a short space, which is necessary to understand these policy issues more fully.

  7. It is my belief that if the United States is to compete more effectively, it needs to change various areas of society. A top priority is change in the educational system. Change in the law school curriculum is necessary to provide better training of future public and private sector leaders for participation in the business environment in the global marketplace.

  8. To provide the necessary conceptual and interdisciplinary education there is no better starting place than this excellent entry. It describes the state of the art, its problems and promises concerning the international political economy. This is essential to the international legal profession in pointing the way toward further research and offering a conceptual basis for more effective understanding of the momentous changes taking place in the world economy.

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