International Political Economy: Perspectives on Global Power and Wealth / Edition 5

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International Political Economy: Perspectives on Global Power and Wealth provides a flexible set of readings that introduce students to the major ideas, arguments, and topics in the field. In this Fifth Edition, Professors Frieden, Lake, and Broz take full account of recent developments in IPE scholarship and in global economic events. The 32 readings include new articles on current issues, such as the response to the global financial crisis that began in 2008 and globalization and the environment, as well as seminal pieces that have shaped the field as it is understood today. Throughout, helpful introductions and headnotes provide context and highlight the significance of each reading.

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Editorial Reviews

An anthology of readings for a first course in international political economy, international relations, and international economics. Of the 31 articles, 15 are new to the fourth edition; no dates are noted for earlier editions. The sections include contending perspectives, historical views, production, money and finance, and economies in development and transition. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9780393935059
  • Publisher: Norton, W. W. & Company, Inc.
  • Publication date: 11/10/2009
  • Edition description: Fifth Edition
  • Edition number: 5
  • Pages: 608
  • Sales rank: 247,559
  • Product dimensions: 6.10 (w) x 9.20 (h) x 0.80 (d)

Meet the Author

Jeffry A. Frieden is Professor of Government at Harvard University. He specializes in the politics of international monetary and financial relations. Frieden is the author (with Menzie Chinn) of Lost Decades: The Making of America’s Debt Crisis and the Long Recovery. His previous books include Global Capitalism: Its Fall and Rise in the Twentieth Century; Debt, Development, and Democracy: Modern Political Economy and Latin America, 1965–1985; and Banking on the World: The Politics of American International Finance; and he is the co-author or co-editor of many other books on related topics. His articles on the politics of international economic issues have appeared in a wide variety of scholarly and general-interest publications.

David A. Lake is the Jerri-Ann and Gary E. Jacobs Professor of Social Sciences and Distinguished Professor of Political Science at the University of California, San Diego. He is the author, most recently, of Hierarchy in International Relations. Other books include Entangling Relations: American Foreign Policy in Its Century and Power, Protection, and Free Trade: International Sources of U.S. Commercial Strategy, 1887–1939. In addition, he is co-editor of ten volumes and author of over 80 articles and book chapters on international relations, international political economy, and American foreign policy.

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Table of Contents

preface ix

About the Editors xi

Introduction: International Politics and International Economics 1

I Contending Perspectives on International Political Economy 21

1 State Power and the Structure of International Trade Stephen D. Krasner 23

2 The Political Economy of the Smoot-Hawley Tariff Barry Eichengreen 42

3 History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World Kenneth L. Sokoloff Stanley L. Engerman 53

4 Globalization of the Economy Jeffrey A. Frankel 63

II Historical Perspectives 83

5 Free Trade: The Repeal of the Corn Laws Cheryl Schonhardt-Bailey 87

6 International Trade, Domestic Coalitions, and Liberty: Comparative Responses to the Crisis of 1873-1896 Peter Alexis Gourevitch 98

7 International Investment and Colonial Control: A New Interpretation Jeffry A. Frieden 119

8 British and American Hegemony Compared: Lessons for the Current Era of Decline David A. Lake 139

III Production 153

9 The Multinational Enterprise as an Economic Organization Richard E. Caves 157

10 Third World Governments and Multinational Corporations: Dynamics of Host's Bargaining Power Shah M. Tarzi 169

11 Competing for Capital: The Diffusion of Bilateral Investment Treaties Zachary Elkins Andrew T. Guzman Beth A. Simmons 180

12 Globalization and Policy Convergence Daniel W. Drezner 200

IV Money And Finance 217

13 The Domestic Politics of International Monetary Order: The Gold Standard J. Lawrence Broz 223

14 Hegemonic Stability Theories of the International Monetary System Barry Eichengreen 246

15 The Triad and the Unholy Trinity: Problems of International Monetary CooperationBenjamin J. Cohen 273

16 Globalization and Exchange Rate Policy Jeffry A. Frieden 286

17 Divided Opinion, Common Currency: The Political Economy of Public Support for EMU Matthew Gabel 297

18 Financial Globalization: Gain and Pain for Developing Countries Sergio L. Schmukler 314

V Trade 337

19 The Controversy over Free Trade: The Gap between Economists and the General Public Cletus C. Coughlin 341

20 Commerce and Coalitions: How Trade Affects Domestic Political Alignments Ronald Rogowski 365

21 The Political Economy of Trading States: Factor Specificity. Collective Action Problems, and Domestic Political Institutions James E. Alt Michael Gilligan 376

22 Are Your Wages Set in Beijing? Richard B. Freeman 393

23 What You Should Know about Globalization and the World Trade Organization Alan V. Deardorff Robert M. Stern 404

24 The Institutional Roots of American Trade Policy: Politics, Coalitions, and International Trade Michael Bailey Judith Goldstein Barry R. Weingast 422

VI Economies In Development 443

25 Globalization, Poverty, and Inequality since 1980 David Dollar 447

26 Root Causes: A Historical Approach to Assessing the Role of Institutions in Economic Development Daron Acemoglu 468

27 Globalization and Inequality, Past and Present Jeffrey G. Williamson 474

28 The Political Economy of Trade Policy Reform: Lessons from Developing Countries Razeen Sally 486

VII Current Problems in International Political Economy 505

29 Globalization and the Environment Jeffrey A. Frankel 507

30 A New Deal for Globalization Kenneth F. Scheve Matthew J. Slaughter 536

31 How to Save Globalization from Its Cheerleaders Dani Rodrik 546

32 The Quiet Coup Simon Johnson 567

Acknowledgments 583

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