International Political Economy: Interests and Institutions in the Global Economy / Edition 3

International Political Economy: Interests and Institutions in the Global Economy / Edition 3

by Thomas Oatley
     
 

View All Available Formats & Editions

ISBN-10: 0205559913

ISBN-13: 9780205559916

Pub. Date: 07/06/2007

Publisher: Longman

Emphasizing both domestic and international politics as well as fundamental economic principles, International Political Economy is the most accessible and holistic overview of the global economy. This text offers students a uniquely engaging introduction to IPE by viewing global economic exchange as a political competition. While surveying key IPE theories,

Overview

Emphasizing both domestic and international politics as well as fundamental economic principles, International Political Economy is the most accessible and holistic overview of the global economy. This text offers students a uniquely engaging introduction to IPE by viewing global economic exchange as a political competition. While surveying key IPE theories, economic principles, institutions, and processes, the text explains how this competition raises social welfare but also creates winners and losers who influence the policies of governments and international institutions and ultimately the global economy.

Product Details

ISBN-13:
9780205559916
Publisher:
Longman
Publication date:
07/06/2007
Series:
MySearchLab Series for Political Science Series
Edition description:
Older Edition
Pages:
432
Product dimensions:
6.24(w) x 9.28(h) x 0.87(d)

Table of Contents

Prefacexii
Chapter 1International Political Economy1
What Is International Political Economy?3
Studying International Political Economy8
Traditional Schools of International Political Economy9
Interests and Institutions in International Political Economy13
The Organization of the Book15
Key Terms17
Chapter 2The Multilateral Trade System18
The Multilateral Trade System19
Power, Interests, and the Multilateral Trade System26
The Creation of the Postwar Trade System27
The Evolution of the Multilateral Trade System30
A Closer Look: Hegemonic Decline and American Trade Policy33
The Problem of Trade Cooperation42
The Politics of Trade Liberalization43
Multilateral Institutions and Trade Cooperation48
Globalization and its Critics51
The Globalizing World Economy51
A Closer Look: The Global Division of Labor in the Semiconductor Industry56
The Critics of Globalization and the World Trade Organization58
A Closer Look: The WTO and its Critics59
Conclusion72
Key Terms73
Web Links73
Suggestions for Further Reading74
Chapter 3The Domestic Politics of Trade Policy75
Protection and its Consequences76
The Structure of Protection in the Advanced Industrialized Countries76
A Closer Look: Trade Policy Instruments77
The Economic Consequences of Protection80
A Society-centered Approach to Trade Policy86
Trade Policy Preferences88
The Collective Action Problem and Trade Policy Demands94
Political Institutions and Trade Politics96
Interests and Institutions in American Trade Politics99
A Closer Look: Trade Politics in the European Union100
Weaknesses of a Society-centered Approach107
A State-centered Approach to Trade Policy109
States and Industrial Policy109
Industrial Policy in High-technology Industries113
Weaknesses of the State-centered Approach118
Conclusion120
Key Terms121
Web Links121
Suggestions for Further Reading122
Chapter 4Trade and Economic Development in the South123
Insulation and Systemic Reform124
Domestic Interests, Internal Pressures, and Protectionist Coalitions124
Markets, Trade, and Economic Development: The Structuralist Critique130
Domestic and International Elements of Trade and Development Strategies135
A Closer Look: Import Substitution Industralization in Brazil140
Dismantling ISI: Trade Policy Reform in the Developing Countries145
Emerging Problems with Import Substitution Industrialization146
The East Asian Model149
International Financial Institutions and Structural Adjustment157
A Closer Look: Structural Adjustment in Mexico161
Domestic Politics and Structural Adjustment162
Developing Countries in the Contemporary Multilateral Trade System164
Conclusion167
Key Terms168
Web Links168
Suggestions for Further Reading169
Chapter 5Multinational Corporations in the World Economy170
Multinational Corporations: The Agents of Globalization171
Economic Explanations for MNCs180
Market Imperfections180
Locational Advantages183
Domestic Politics and MNCs185
The Host Country Dilemma187
Regulating MNC Activity189
A Closer Look: Singer Sewing Machines in Taiwan192
The Bargaining Relationship198
A Closer Look: Luring the German Luxury Car Producers to the South200
MNCs and Labor in the Global Economy204
MNCs and Labor in Developing Countries204
MNCs and Labor in Advanced Industrialized Countries207
International Regulation of MNCs210
A Closer Look: Protecting Investment in NAFTA214
Conclusion217
Key Terms218
Web Links219
Suggestions for Further Reading219
Chapter 6The International Monetary System220
The International Monetary System221
The Exchange Rate System222
Balance of Payments Adjustment224
The Tradeoff between Exchange Rate Stability and Domestic Autonomy228
The Bretton Woods System230
Creating the Bretton Woods System231
A Closer Look: The International Monetary Fund235
The Operation and Collapse of the Bretton Woods System237
A Closer Look: Dollar Overhang and the Confidence Problem240
Contemporary International Monetary Arrangements246
International Financial Integration246
Exchange Rate Arrangements in a World of Mobile Capital250
Conclusion264
Key Terms265
Web Links266
Suggestions for Further Reading266
Chapter 7Domestic Politics and Exchange Rate Policy267
Domestic Politics, Monetary Policy, and the Exchange Rate268
Electoral Politics, the Keynesian Revolution, and Monetary Policy268
The Unholy Trinity and the Domestic Politics of Exchange Rate Policies273
Society-based Approaches to Monetary and Exchange Rate Policy277
The Electoral Model of Exchange Rate Politics277
The Partisan Model of Exchange Rate Politics280
The Sectoral Model of Exchange Rate Politics284
Weaknesses of the Society-centered Approaches289
The State-centered Approach to Monetary and Exchange Rate Policy290
Monetary Policy and Unemployment291
A Closer Look: The Natural Rate in the United States and European Union292
The Time Consistency Problem300
Independent Central Banks as Commitment Mechanisms301
A Closer Look: The European Monetary System as a Commitment Mechanism303
Independent Central Banks and Exchange Rates307
Criticisms of the State-centered Approach309
Conclusion310
Key Terms311
Web Links311
Suggestions for Further Reading312
Chapter 8Developing Countries and the International Financial System313
The Early Postwar Period314
The Supply of External Finance316
A Closer Look: The World Bank319
Financial Arrangements in Developing Countries322
Commercial Bank Lending: Private Capital and the Debt Crisis325
The Oil Shock, ISI, and the Demand for External Finance325
Commercial Banks and the Supply of External Finance327
Commercial Bank Lending and the Boom and Bust Cycle in Latin America329
Managing the Debt Crisis334
The Debt Regime334
The Sources of Bargaining Power337
A Closer Look: The Debt Crisis in Africa338
The Domestic Politics of Economic Reform342
The Resumption of Capital Flows and the Return of Financial Crises346
The Causes and Consequences of the Asian Financial Crisis349
Reforming the International Financial System?355
Conclusion358
Key Terms359
Web Links359
Suggestions for Further Reading360
Chapter 9Political Economy of Socialist and Post-socialist Societies361
The Rise and Fall of the Soviet Bloc362
Creating and Extending the Soviet System362
Stagnation, Crisis, and Collapse372
Economic Decline and Political Change375
Market Reform in the Former Soviet Bloc379
Strategies of Market Reform380
A Closer Look: Shock Therapy in Poland382
Economic Reform in China392
Economic Reform393
The Political Logic of China's Economic Reforms397
Conclusion399
Key Terms400
Web Links401
Suggestions for Further Reading401
Glossary402
References415
Index434

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >