1. The Study of Global Political Economy

2020 ◽  
pp. 3-24
Author(s):  
John Ravenhill
Keyword(s):  
International Economic ◽  
Political Economy ◽  
World Economy ◽  
Global Financial Crisis ◽  
Raw Materials ◽  
Transnational Corporation ◽  
Global Political Economy ◽  
Economic Relations ◽  
Complex Interdependence ◽  
The World

This chapter provides an overview of the current state of the world economy. The contemporary international economic system is more closely integrated than in any previous era. The global financial crisis and its aftermath provide a clear illustration of the relationship between trade, finance, international institutions, and the difficulties that governments face in coping with the problems generated by complex interdependence. The chapter then traces how the world economy evolved to reach its present state. Before 1945, the spectacular increase in economic integration that had occurred over the previous century was not accompanied by institutionalized governmental collaboration on economic matters. The end of the Second World War marked a significant disjunction: global economic institutions were created, the transnational corporation emerged as a major actor in international economic relations, and patterns of international trade began to change markedly from the traditional North–South exchange of manufactures for raw materials. Since the emergence of global political economy (GPE) as a major subfield of the study of international relations in the early 1970s, GPE scholars have generated an enormous literature that has employed a wide variety of theories and methods. Most introductions to the study of GPE have divided the theoretical approaches to the subject into three categories: liberalism, nationalism, and Marxism.

The Russian Empire and the Countries of the African Continent: From the First Contacts to Regular Economic Interaction

2021 ◽  
pp. 216-224
Author(s):  
Aigul R. Nurieva ◽  
◽  
Marat Z. Gibadullin ◽  
Diana I. Zainutdinova ◽  
◽  
...  
Keyword(s):  
International Economic ◽  
Economic Activity ◽  
World Economy ◽  
Russian Empire ◽  
African Continent ◽  
African Countries ◽  
Economic Relations ◽  
International Economic Relations ◽  
The World ◽  
The Russian Empire

The current state of the world economy is characterized by instability and mobility. In the context of a protracted crisis, aggravated by the COVID-19 pandemic, competitive contradictions between the leading actors in international economic relations and world politics are exacerbating. Each of them is trying to fix the positions they have won in the world arena, resorting to the tools of economic and military diplomacy to achieve their strategic goals. The confrontation between old and new world leaders of the world economy is being transferred not only to traditional markets, but also to new ones, which were previously on the periphery of their economic interests. The African continent today, like in the nineteenth century, attracts more and more close attention of the leading states of the world. Rich in natural resources, it becomes an arena for the struggle for control over it from the United States, China, and European countries. Taking into account the fact that for Russia the field of foreign economic activity has significantly narrowed in recent years, its return to Africa should become one of the priorities of the national foreign economic strategy. In the above context, it seems relevant to comprehensively study the stages of development of economic relations between Russia and African countries and, based on historical experience, to identify the shortcomings and failures of economic policy in relations with African partners. When writing the article, the authors used general scientific research methods, primarily the dialectical method of cognition, the logical and historical method, deduction and induction, and mathematical methods. In the course of the study, the following results were achieved. (1) Based on the analysis of historical documents, the nature of the economic relations of the Russian Empire with African countries at various stages of their evolution has been determined. It has been established that, at the initial stage of interaction, Russia, in its desire to establish economic contacts with the states in the region, relied on the principle of respect for their sovereignty as independent states, independent subjects of international economic relations; however, at the following stage, associated with the beginning of the colonial division of Africa by the European powers, Russia was forced to passively participate in the colonial aggression against the countries of the region, entering into international agreements with the colonialists on the status of African countries. (2) Based on the processing of statistical data on the foreign trade of the Russian Empire with African countries and territories, a tendency has been revealed that characterizes the gradual curtailment of Russia’s economic activity in this region.

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.

World economy and international economic relations

2020 ◽  
Author(s):  
Ol'ga Baburina
Keyword(s):  
International Economic ◽  
World Economy ◽  
System Analysis ◽  
Point Of View ◽  
Modern World ◽  
Federal State ◽  
Economic Relations ◽  
International Economic Relations ◽  
The World ◽  
State Educational

The main provisions of the theory of the world economy and international economic relations are presented. The strengthening of the integrity of the world economy is justified. The most important indicators from the point of view of system analysis are given. The concepts, concepts and dynamics of development of key forms of international economic relations are revealed. The construction of the balance of payments of various countries is analyzed. In the proposed publication, to control the level of mastering the discipline on each topic, tests, topics of reports and abstracts are given, practice-oriented tasks are developed based on objective statistical data of recent years. Meets the requirements of the Federal state educational standards of higher education of the latest generation. For bachelors studying in the field of Economics, it can be useful for teachers who lead the disciplines "World economy", "World economy and international economic relations", as well as for anyone interested in the processes taking place in the modern world economic system and the role of Russia in it.

The Political Economy of Resources: Africa's Future in the Global Environment

1978 ◽  
Vol 16 (1) ◽  
pp. 1-32 ◽  
Author(s):  
Timothy M. Shaw ◽  
Malcolm J. Grieve
Keyword(s):  
Political Economy ◽  
World Economy ◽  
Raw Materials ◽  
Global Environment ◽  
The Political ◽  
Foreign Markets ◽  
Absolute Increase ◽  
Primary Products ◽  
The World ◽  
Relative Decline

Africa has become more reliant – not less – on exports of primary products and raw materials and on imports of finished and semifinished goods since independence… the fact that Africa's role in the world economy has undergone a relative decline at the same time as dependence on foreign markets, goods and capital has experienced an absolute increase is evidence that the gap between Africa and the industrialised world is growing, despite the ambitious efforts of African states to close it.1

MECHANISMS OF STRUCTURAL REFORMING OF CHINA’ ECONOMY IN THE CONTEXT OF DEVELOPMENT OF THE TRADE CONFLICT WITH THE USA

2019 ◽  
pp. 31-44
Author(s):  
Evgeniy N. Smirnov
Keyword(s):  
Financial Crisis ◽  
World Economy ◽  
System Analysis ◽  
Global Financial Crisis ◽  
Raw Materials ◽  
Problem Analysis ◽  
The World ◽  
Analysis And Synthesis ◽  
The Usa ◽  
Relationship Of

The world economy recovers from global financial crisis slowly and unevenly that calls a question about efficiency and advantage of economic globalization for the countries of the world. Developing countries recovered from global financial crisis of 2008–2009 comparative quickly, and it was promoted in many respects by the high prices of raw materials and low levels of debt of these countries. NowChinatakes leader positions in the international capital flow and world trade. Globalization had significant effect on scales of the involvement of the country into world economic communications that became one of the reasons of overheating of national economy. The economy ofChina, besides the increasing overheating potential, begins to be under pressure from the trade conflict initiated by theUSA. In these conditions problems of structural reforming ofChina’ economy, on that depend competitive positions of the country in the world economy depend, become aggravated. In modern Sinology, the problems of trade conflicts between countries are studied very fragmentally. Approaches of the author are based on the results previously obtained by Russian scientists Y. M. Galenovich, A. P. Mozias, M. L. Titarenko, and theoretical developments of leading research centers. Historical approach, comparative, system analysis and synthesis, prognostic and problem analysis were used as instrumental scientific methods in the research presented in the article. The author's ideas are based on the hypothesis of the relationship of «overheating», appearing in the economies with the growth of economic contradictions and conflicts between them.

Analysis of the Impact of Monetary Relations Between the Russian Federation and the Middle East on the Region's Economy

2021 ◽  
Vol 10 (1) ◽  
pp. 12-18
Author(s):  
Vahib Al'-Mavazhde
Keyword(s):  
International Economic ◽  
Middle East ◽  
Russian Federation ◽  
World Economy ◽  
Arab Countries ◽  
Economic Relations ◽  
International Economic Relations ◽  
The World ◽  
The Russian Federation ◽  
Labor Specialization

International monetary and credit relations are an integral part and one of the most difficult areas of a market economy. They reflect the problems of the national and world economies, which historically developed in parallel. With the globalization and internationalization of the world economy, there is an intensification of international flows of goods, services, and especially capital and loans. International monetary and credit relations (IMCO) are one of the forms of international economic relations (IEE) along with such forms as: international trade, international movement of capital and foreign investment, international labor migration, international cooperation in science and technology, international division of labor (specialization and cooperation of production). Russia is one of the key partners in the world market in the field of currency and credit relations and trade, which affects the country's economic development. On the financial market arena, Russia acts as a lender for developing countries, and is also a borrower from more developed countries. In the modern realities of the development of international economic relations, it is worth considering various alternative financial markets or renewing old international economic relations, as an option these are the countries of the Middle East. Today, market economic relations between Russia and the Middle East are based on mutually beneficial conditions for both parties. The Russian Federation views the Arab countries, firstly, as a market for its manufactured products, technical equipment, and secondly, as a prospect for credit relations and the development of a market for energy products. At the moment, the improvement of relations in the currency and credit directions is aggravated by the state of the world economy and foreign economic activity of Russia.

1. The Study of Global Political Economy

2016 ◽  
Author(s):  
John Ravenhill
Keyword(s):  
Political Economy ◽  
Interwar Period ◽  
Global Financial Crisis ◽  
Economic Policies ◽  
Global Political Economy ◽  
Developed Economies ◽  
The World ◽  
World Poverty ◽  
The Global Financial Crisis ◽  
The Impact

This volume provides an introduction to the field of Global Political Economy (GPE). It explores some of the approaches that have addressed the key concerns of theorists of GPE; for example. what conditions are most conducive to the emergence of collaborative behaviour among states on economic issues, or what are the determinants of the foreign economic policies of states. It examines various aspects of the debate about globalization as well as the impact of globalization on world poverty, inequality, and the environment. It also considers how globalization has changed the relations between industrialized and less developed economies. This chapter discusses the global financial crisis and the world economy pre-1914, in the interwar period, and post-1945. It also analyses the emergence of GPE as a field and describes a number of approaches to the study of GPE.

International political economy: perspectives and prospects—Part II

1982 ◽  
Vol 8 (1) ◽  
pp. 39-52 ◽  
Author(s):  
R. J. Barry Jones
Keyword(s):  
International Economic ◽  
Political Economy ◽  
Critical Review ◽  
International Political Economy ◽  
Global Political Economy ◽  
Economic Relations ◽  
International Economic Relations

The study of international political economy is beset with complexity: the complexity of the empirical referent and the variety of intellectual perspectives. The complexity of contemporary international economic relations was discussed in the first of these two papers. This paper is devoted to a critical review of the major established perspectives on the global political economy and a discussion of some of the bases upon which it might be possible to construct a synthetic, and hopefully more satisfactory, approach.

scholarly journals American World Empire or Declining Hegemony

2004 ◽  
pp. 516-524 ◽  
Author(s):  
Terry Boswell
Keyword(s):  
System Theory ◽  
Political Economy ◽  
World Economy ◽  
World System ◽  
Political Control ◽  
Global Political Economy ◽  
World System Theory ◽  
Fundamental Assumption ◽  
The World ◽  
The U.S

Gowan challenges the usefulness of world-system theory in accounting for the emergence of an American world empire. His argument is based on one fundamental assumption, that of overwhelming U.S. power in the contemporary period. The assumption, however, is flawed. The U.S. is clearly an uncontested military superpower, a world leader with the ability to project its power and interests around the world. But its economic hegemony is in decline, and it is no longer the overwhelming presence it once was in the world-economy. Moreover, Gowan is unable to support his thesis that the U.S. is becoming an empire over Europe. Although the U.S. occupation and administration of Iraq is an example of colonial imperialism, there is no evidence to show that the U.S. has begun to establish a core-wide empire. On the contrary, U.S. political control over Europe has declined to its lowest level in the post-WWII period. The persuasiveness of world-system theory in explaining the changing global political economy remains strong.

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