Introduction – Conceptual and Analytical Issues
1. What is International Political Economy?
2. What are the issues?
A. Actor behavior
B. System governance
C. Globalization
o I. Introduction (cont’d)
A. Actor Behavior. How do we explain and evaluate the actions of
...
INTRODUCTION TO INTERNATIONAL POLITICAL ECONOMY
o I. Introduction – Conceptual and Analytical Issues
1. What is International Political Economy?
2. What are the issues?
A. Actor behavior
B. System governance
C. Globalization
o I. Introduction (cont’d)
A. Actor Behavior. How do we explain and evaluate the actions of
states?
1. Levels of analysis: international (structural, systemic) vs.
domestic
2. State (government, public sector) vs. society (markets, private
sector)
o I. Introduction (cont’d)
B. System Governance. Formulation, implementation, and enforcement
of rules; promotion of cooperation; management of conflict
1. Governance without government; governance mechanisms
(regimes)
2. Organizing principles: automaticity, supranationality,
hegemony, pluralism (negotiation, cooperation)
o I. Introduction (cont’d)
C. Globalization. Inter-national vs. globalized model of world economy
o II. Analytical Perspectives on Political Economy
1. Liberalism
2. Realism (statism, economic nationalism, mercantilism)
3. Marxism (structuralism, historical materialism)
II. Analytical Perspectives on IPE - Liberalism
A. Focus: individuals, households, enterprises
B. Nature of economic relations: harmonious; interests reconcilable
C. Relationship between economics and politics: economics drives
politics
II. Analytical Perspectives on IPE -Realism
A. Focus: states
B. Nature of economic relations: conflictual (zero-sum game)
C. Relationship between economics and politics: politics drives
economics
o II. Analytical Perspectives on IPE - Marxism
A. Focus: classes, social forces
B. Nature of economic relations: conflictual (zero-sum game)
Relationship between economics and politics: economics drives politics
III. Alternative Perspectives on Globalization
1. Definition: a broadening, deepening, and acceleration of
interconnectedness of states and markets; networks of connections at
intercontinental distances
2. Alternative views: from “hyperglobalists” to skeptics
This study source was downloaded by 100000838690865 from CourseHero.com on 06-06-2023 03:14:42 GMT -05:00
, 3. Why do we care? By creating a dissonance between the jurisdiction of
states and the domains of markets, globalization problematizes
governance: who is in charge?
o III. Globalization (cont’d)
4. Perspectives on causes and consequences
A. Liberalism: triumph of markets; good for economic welfare
B. Realism: product of state policy; bad for power of states
C. Marxism: triumph of markets; bad for poorer states and
disadvantaged classes
o IV. International Economic History – Nineteenth Century
1. Three major developments
2. Political economy issues
3. Key lessons
o IV. Nineteenth Century - three major developments
Monetary system: classical gold standard
Trading system: movement toward free trade in 1860s-70s, then back
toward protectionism
Core-periphery relations: rise of “new imperialism” after 1870s
IV. Nineteenth Century - political economy issues
A. Gold standard: What accounts for its stability and relatively smooth
operation?
B. Trade: What accounts for the free trade movement in the 1860s-70s?
What accounts for the subsequent return to protectionism?
C. Core-periphery relations: What accounts for the “new imperialism?”
IV. Nineteenth Century - key lessons
A. No single (mono-causal) explanations; need to sift the evidence.
B. No single rule for all regimes; different governance mechanisms can
exist side by side
o V. International economic history – interwar period
1. Major developments
A. Breakdown during World War I
B. Attempted reconstruction during 1920s
C. Renewed breakdown (Great Depression) during 1930s
o V. Interwar period (cont’d)
2. Political economy issue: What explains the failure of the attempted
reconstruction?
A. Liberalism: markets failed because of wrong-headed
government policies
B. Marxism: internal contradictions of capitalism
C. Realism: absence of effective governance (theory of
hegemonic stability)
o VI. International economic history – postwar period
1. Major developments
A. Creation of new international institutions: IMF, World Bank,
GATT
B. Cold War, leading to two separate blocs (East-West) and the
rest (Third World)
C. Unprecedented economic growth
This study source was downloaded by 100000838690865 from CourseHero.com on 06-06-2023 03:14:42 GMT -05:00
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsRevision. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.91. You're not tied to anything after your purchase.
