The Politics of International Economic Relations / Edition 5

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The first book to give students the breadth and depth of scholarship they need to understand the politics of the world economy, THE POLITICS OF INTERNATIONAL ECONOMIC RELATIONS has been fully updated to reflect the sweeping changes that continue to reshape the international arena. This Sixth Edition strengthens the text's contemporary coverage of political and economic relations, economic polarization in developing nations, and the roots of economic decline in centrally planned economies. Its new emphasis on the impact of economic globalization makes this definitive text ideal for use as a core text for the International Political Economy course, or as a supplement in the International Relations course.

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Product Details

  • ISBN-13: 9780312084769
  • Publisher: St. Martin's Press
  • Publication date: 8/28/1996
  • Edition description: Older Edition
  • Edition number: 5
  • Pages: 446
  • Product dimensions: 6.06 (w) x 9.01 (h) x 0.86 (d)

Meet the Author

Joan E. Spero is President of the Doris Duke Charitable Foundation, which strives to improve the quality of people's lives through grants supporting performing arts, environmental conservation, medical research, and child maltreatment prevention as well as preservation of Doris Duke's properties. Renowned throughout the field of political science, Spero received her doctorate in political science from Columbia University, where she taught international politics and economics from 1973 to 1979. In 1980, she was named U.S. ambassador to the United Nations Economic and Social Council by President Jimmy Carter. From 1981 to 1993, she served as an executive at the American Express Company, ultimately executive vice president for corporate affairs and communications. Dr. Spero's vast political experience also includes serving as undersecretary of state for economic, business, and agricultural affairs in the Clinton Administration.

Jeffrey A. Hart is Professor of Political Science at Indiana University, Bloomington, where he has taught international politics and international political economy since 1981. He taught at Princeton University from 1973 to 1980, served as a professional staff member of the President's Commission for a National Agenda for the Eighties from 1980-1981, and worked at the Office of Technology Assessment of the U.S. Congress as an internal contractor in 1985-1986. Dr. Hart received his doctorate in political science from the University of California, Berkeley, in 1975.

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Table of Contents

Preface ix
About the Authors xi
I An Overview
1 From Management to Governance in International Economic Relations 1
Bretton Woods 1
Interdependence 4
Globalization 7
Conclusion 10
II The Western System
2 Governing the International Monetary System 12
The Bretton Woods System 14
From Bretton Woods to Interdependence 20
Interdependence 28
Globalization 42
Crisis Management in the 1990s 52
Global Monetary Governance in the Twenty-first Century 59
3 International Trade and Domestic Politics 66
The Bretton Woods System 67
Interdependence 72
Globalization 92
Conclusion 107
4 The Multinational Corporation and Global Governance 117
Common Characteristics of MNCs 119
Trends in FDI and Other MNC Activities 122
Explaining the Growth in MNC Activity 127
The Consequences of MNC Activity 132
International Regimes for Foreign Direct Investment 142
Conclusion 161
III The North-South System
5 The North-South System and the Possibility of Change 171
Liberal Theories of Economic Development 175
Marxist and Neo-Marxist Theories of Development 175
The Structuralists 177
Contrasting Marxist and Structuralist Perspectives 178
Weaknesses of the Three Perspectives 179
Dependence 183
Confrontation 184
Globalization 186
6 Financial Flows to Developing Countries 192
Bretton Woods and Foreign Aid 193
Financial Flows in the Era of Interdependence 198
Globalization 214
7 Trade and Development Strategies 234
Bretton Woods: Isolation from the Trading Order 234
Interdependence: Strategies to Increase Southern Power 241
Globalization: Joining the Trade Regime 252
8 Multinational Corporations in the Third World 267
The Role of MNCs and FDI in the South 268
Interdependence 279
Globalization 289
9 Oil and Politics 299
Corporate Oligopoly 301
The OPEC System 304
Other OPECs? 311
OPEC in Decline 316
Era of Globalization 323
Oil in the Twenty-first Century 330
IV Implications of the End of the Cold War
10 East-West Economic Relations: from Isolation to Integration 336
The Cold War 337
The Collapse of the Communist System 342
From Communism to Capitalism 350
China 361
East-West Economic Relations Since the End of the Cold War 374
11 Conclusion: Globalization and Governance 385
The Evolution of International Economic Management 386
Challenges for Global Governance 390
Characteristics of a New System of Governance 392
Glossary 397
Acronyms 424
Selected Bibliography 429
Index 486
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  • Anonymous

    Posted July 18, 2001

    The Politics of International Economic Relations

    This is the best textbook on international political economy for undergraduates. It provides an historical account of how the world economy has been managed since the end of World War II. Separate chapters deal with international monetary affairs, foreign direct investment, trade, and aid. There are also chapters on theories of economic development, transitions from communism to capitalism, and the politics of oil.

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