Global Political Economy

2020 ◽  
Keyword(s):  
Political Economy ◽  
International Political Economy ◽  
Real Word ◽  
Economic Nationalism ◽  
Global Political Economy ◽  
The Impact ◽  
Trump Administration ◽  
Selection Of

Global Political Economy presents a diverse and comprehensive selection of theories and issues. Debates are presented through a critical lens to encourage readers to unpack claims, form independent views, and challenge assumptions. This text has been updated with contemporary real word examples, including the impact of the Trump administration, Brexit, and economic nationalism. Furthermore, new analysis has been added on the international political economy of work, labour, and energy.

International Political Economy: Overview and Conceptualization

2010 ◽  
Author(s):  
Renée Marlin-Bennett
Keyword(s):  
Political Economy ◽  
Immanuel Kant ◽  
John Locke ◽  
International Political Economy ◽  
Adam Smith ◽  
Economic Activities ◽  
Economic Nationalism ◽  
Global Political Economy ◽  
Globalizing World ◽  
The World

The concept of international political economy (IPE) encompasses the intersection of politics and economics as goods, services, money, people, and ideas move across borders. The term “international political economy” began to draw the attention of scholars in the mid-1960s amid problems of the world economy and lagging development in the third world. IPE was later replaced by the term “global political economy” (GPE) in recognition of the fact that what happens in the world is not only about interactions between states, and that the global political economy includes many different kinds of actors. In general, GPE better suits the reality of a globalizing world. Early works that explored the relationship between economic activities and state interests originated long before the term “political economy” was coined. Examples are those by Aristotle, Kautilya, Ibn Khaldun, and Niccolò Machiavelli. Adam Smith used the word “mercantilism” to describe the various theories and policies on how states should intervene in markets in order to increase wealth and power. “Mercantilism” was supplanted by “economic nationalism” in the twentieth century, followed by classical liberalism, neoliberal institutionalism, and neoclassical liberalism. Whereas both mercantilism and economic nationalism emphasize state power and state interests, liberal writers such as John Locke and Immanuel Kant argue that possessive individualism and the individual are the bearer of rights. Other major schools of thought that have conceptualized important concepts, relationships, and causal understandings in IPE include Marxism and its variants, feminist approaches, and communitarianism.

scholarly journals The political consequences of the product cycle: industrial history and political outcomes

1979 ◽  
Vol 33 (1) ◽  
pp. 1-34 ◽  
Author(s):  
James R. Kurth
Keyword(s):  
Political Economy ◽  
Domestic Politics ◽  
International Political Economy ◽  
Product Cycle ◽  
The West ◽  
Political Consequences ◽  
Industrial History ◽  
Political Outcomes ◽  
Foreign Policies ◽  
The Impact

What explains the continuing stagnation in the industrial economies of the West? What will be the impact of such stagnation upon domestic politics and upon international relations? Are there domestic and foreign policies which the state can undertake to bring about a return to sustained economic prosperity and a recapitulation of that lost golden age of 1948–1973? These are now the central questions for scholars in the emerging field of international political economy. A recent special issue of International Organization, edited by Peter Katzenstein, has presented some of the most useful and sophisticated approaches to these questions and analyses of the international political economy of the West during the period of the last thirty years.

scholarly journals Measuring Economic Development and the Impact of Economic Globalisation

2020 ◽  
Vol 15 (3) ◽  
pp. 185-207
Author(s):  
Roukanas Spyros
Keyword(s):  
Political Economy ◽  
Economic Development ◽  
Economic Crisis ◽  
Field Of Study ◽  
Global Political Economy ◽  
Development Index ◽  
Global Economic Crisis ◽  
National Economies ◽  
The Impact ◽  
Economic Globalisation

Abstract The aim of this article is to measure economic development and the impact of economic globalisation under the prism of global political economy. Global political economy is a field of study that has its roots in international relations. The growth of world economic transactions after the collapse of the Bretton Woods system in the 1970s created the need for a new field of study, in order to explain the interdependence between politics and economics on the international level. Global political economy is the field of study that also examines the implications of economic globalisation for national economies and for the global economy. The concept of economic development is broader than economic growth, which is related to GDP growth. The concept of economic globalisation has changed the prospects of economic development for certain developed and developing economies. The main changes of economic globalisation are closely related to the following aspects of national economies: trade, finance, and production. The analysis of this article will reveal the effects of economic globalisation on different aspects of economic development. These aspects are studied under the prism of indexes such as Financial Development Index, openness to trade, Human Development Index, the GINI Index and other inequality indexes. The aftermath of the global economic crisis of 2007-2008 placed at the epicentre the interdependence of national economies and the issue of economic inequalities. The study of the aforementioned indexes will highlight the alterations that have occurred from the manifestation of the global economic crisis until today. The article is focusing on the following countries: China, Germany, Greece, and the United States for the last decade (2009-2019), on the basis of the available data.

COVID-19 and the International Political Economy of Risk and Resilience

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Nick Bernards
Keyword(s):  
Political Economy ◽  
International Political Economy ◽  
Control Measures ◽  
Health Costs ◽  
Risk And Resilience ◽  
Economic Costs ◽  
Global Political Economy ◽  
The Public ◽  
And Control ◽  
Development Agendas

This forum contribution highlights the confluence of two distinct trends in the COVID-19 pandemic and its aftermath. On one hand, many of the worst socio-economic costs of the virus and control measures have been disproportionately borne by marginalized workers, primarily in the global south. Often these impacts have not overlapped with the public health costs of the virus itself. In this sense the pandemic has highlighted the ways that risks in the global political economy are unevenly and systematically distributed. On the other, early indications are that highly individualized notions of ‘risk management’ and ‘resilience’ will be central to post-crisis global development agendas. At the same time as the COVID-19 pandemic has made the systemic and unequal nature of risks in the global political economy visible, then, many of the most marginalized segments of the world’s population are being asked to take responsibility for managing those risks.

Duterte’s Foreign Policy Pivot and Its Impact on Philippine Trade and Investments: An International Political Economy Perspective

2020 ◽  
Vol 41 (1-2) ◽  
pp. 127-160
Author(s):  
Jenny D. Balboa
Keyword(s):  
Political Economy ◽  
Foreign Policy ◽  
International Political Economy ◽  
The United States ◽  
The Philippines ◽  
The Political ◽  
The European Union ◽  
Economic Relations ◽  
The Impact ◽  
Trade And Investment

Abstract Since the Philippines elected President Rodrigo Duterte in 2016, the country’s foreign policy seems to have become more uncertain. President Duterte’s mercurial personality and antagonistic tirades against the country’s traditional Western allies, including the United States (US) and the European Union (EU), and his statements of building closer ties with China and Russia, had changed the political and diplomatic tone of the Philippines overall. Certainly, the political relationship between the Philippines and the West has been changed by Duterte’s strong remarks against the US and EU. Has this change spilled over to the economy? The paper presents an international political economy framework in examining the impact of Duterte’s foreign policy pivot to the country’s foreign economic relations, focusing on trade and investment. The paper argues that Duterte’s foreign policy shift is mainly shaped by Duterte’s “politics of survival”. Not firmly anchored in any idea, norms, or interest that can clearly benefit the country, Duterte is unable to provide coherent guidance and leadership on the foreign policy pivot, particularly on the economy. Duterte’s lack of guidance provided the technocrats with the policy space to continue the policies from the previous administration and not to divert radically from previous economic policies. The stability of the economic institutions provided a refuge in the period of uncertainty. As a result, the foreign economic relations of the Philippines has not radically shifted. The trade and investment situation of the Philippines remained stable, and economic relations with traditional partners are maintained.

10. Global Political Economy

2021 ◽  
pp. 223-249
Author(s):  
Stephanie Lawson
Keyword(s):  
Political Economy ◽  
Global Economy ◽  
Historical Perspective ◽  
International Political Economy ◽  
Global Politics ◽  
Traditional Role ◽  
Global Political Economy ◽  
The North ◽  
Role Of The State

This chapter offers an overview of the field of Global Political Economy (GPE)—also known as International Political Economy (IPE). It builds on themes introduced in previous chapters, including connections with theories of global politics. These are discussed from a historical perspective to enable a better appreciation of how ideas, practices, and institutions develop and interact over time. These theories arose substantially within a European context, although the extent to which these may be applied uncritically to issues of political economy in all parts of the globe must be questioned. Significant issues for GPE include trade, labour, the interaction of states and markets, the nexus between wealth and power, and the problems of development and underdevelopment in the global economy, taking particular account of the North–South gap. The chapter then discusses the twin phenomena of globalization and regionalization and the way in which these are shaping the global economy and challenging the traditional role of the state. An underlying theme of the chapter is the link between economic and political power.

Institutions and the Global Political Economy

2017 ◽  
Author(s):  
Lisa L. Martin
Keyword(s):  
International Economic ◽  
Nineteenth Century ◽  
Political Economy ◽  
Global Economy ◽  
International Institutions ◽  
Well Being ◽  
Economic Institutions ◽  
Global Political Economy ◽  
The World ◽  
The Impact

In a comparison of today’s global political economy with that of the last great era of globalization, the late nineteenth century, the most prominent distinction is be the high degree of institutionalization in today’s system. While the nineteenth-century system did have some important international institutions—in particular the gold standard and an emerging network of trade agreements—it had nothing like the scope and depth of today’s powerful international economic institutions. We cannot understand the functioning of today’s global political economy without understanding the sources and consequences of these institutions. Why were international organizations (IOs) such as the World Trade Organization (WTO) or International Monetary Fund (IMF) created? How have they gained so much influence? What difference do they make for the functioning of the global economy and the well-being of individuals around the world? In large part, understanding IOs requires a focus on the tension between the use of power, and rules that are intended to constrain the use of power. IOs are rules-based creatures. They create and embody rules for gaining membership, for how members should behave, for monitoring, for punishment if members renege on their commitments, etc. However, these rules-based bodies exist in the anarchical international system, in which there is no authority above states, and states continue to exercise power when it is in their self-interest to do so. While states create and join IOs in order to make behavior more rule-bound and predictable, the rules themselves reflect the global distribution of power at the time of their creation; and they only constrain to the extent that states find that the benefits of constraint exceed the costs of the loss of autonomy. The tension between rules and power shapes the ways in which international institutions function, and therefore the impact that they have on the global economy. For all their faults, international economic institutions have proven themselves to be an indispensable part of the modern global political economy, and their study represents an especially vibrant research agenda.

FOREIGN INVESTMENT AND THE POLITICAL ECONOMY OF INDONESIAN CAPITAL MARKET IN 2015-2016

2019 ◽  
Vol 7 (6) ◽  
pp. 340-348
Author(s):  
Faris Al-Fadhat ◽  
Mohammad Raihan Nadhir
Keyword(s):  
Political Economy ◽  
Interest Rates ◽  
Foreign Investment ◽  
Capital Market ◽  
International Political Economy ◽  
Stock Exchange ◽  
Economic Stability ◽  
Foreign Investors ◽  
The Impact ◽  
The Capital Market

Purpose of the study: This article examines the impact of foreign investment—especially through the capital market—towards the economic stability and strategic policy in Indonesia. Despite being a member of G20, a group of states with the world’s highest Gross Domestic Products, Indonesia is still a developing state whose need for investment to support economic growth is high. On the other side, Indonesia has a low capital accumulation rate due to low people’s savings which inhibits the development projects. Therefore, the government prioritizes the incoming flow of foreign investment. Methodology: This study applies the international political economy approach to provide critical analysis of Indonesian contemporary foreign investment, especially in the capital market. The data used is the investment activities through the Indonesia Stock Exchange during 2015-2016. Main Findings: It argues that Indonesia’s considerable dependence on investment has enabled foreign investors to play the capital flow to influence the national economic stability for their interests. Such influence was a result of two strategies: (i) the transaction domination in the capital market through the Indonesia Stock Exchange, and (ii) the alliance with financial actors in accessing inside information—which is not commonly owned by domestic investors. Implications/Applications: This study suggests that the politics of foreign investors has contributed towards the changes of government policies in the financial sectors to facilitate the process and to ensure the flow of foreign investment to Indonesia. Such policies include the government’s control of interest rates, fiscal policy, as well as currency stability through macroprudential regulation. Novelty/Originality: Essentially, the capital market is not politically neutral. It has been used by foreign investors to augment their interests by dominating transactions and building political alliances at the domestic level.

scholarly journals Peter Wilkin. The Political Economy of Global Communication: An Introduction. London: Pluto Press, 2001. vi + 163 pages. Paperback. ,14.99.

2002 ◽  
Vol 41 (2) ◽  
pp. 199-201
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Political Economy ◽  
International Political Economy ◽  
Human Life ◽  
Human Security ◽  
Maximum Level ◽  
Well Being ◽  
Human Beings ◽  
Global Communications ◽  
Key Indicators ◽  
The Impact

The author of this book has enriched international political economy by introducing a new aspect, namely, the impact of the steadily advancing global communications industry on economies and societies and, more specifically, on human security. The latter is a broad-based concept developed by the UNDP to reflect, through certain key indicators, human well-being. This consists of a very strong element of social justice in which human beings can satisfy their needs by organising the appropriate political, economic, and cultural institutions within a framework that provides the maximum level of participation and autonomy. For the latter to be achieved, it is essential that people have the means to decide what they wish to do in life and then can translate these wishes into actuality. As the author quotes Streeten, human security is “a broad approach to improving human well-being that would cover all aspects of human life, for all people, in both high-income and developing countries, both now and in the future” (p. 5).

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