Jorgenson, K. Rao Kadiyala, Murray C. Kemp, Kenneth M. Kletzer, Anne O. Krueger, Mukul Majumdar, Daniel This book brings together cutting edge contributions in the fields of international economics, micro Addressing the current dearth of available literature on this topic, the editors use a range of international case studies to explore street vending and informal economies which continue to be, especially in developing countries, a vital economic driver.
This volume collects essays from authors around the world about the markets and vendors they Addressing the current dearth of available literature on this topic, the editors use a range of East Asia is a key region in the global economy, including both the second and third largest global economies already and, led by China, continuing to expand at a rapid rate. This economic growth has led to unprecedented gains in prosperity in the region but it has also led to increasing environmental pressures and energy issues.
East Asia is a key region in the global economy, including both the second and third largest global Drawing on the theoretical resources of institutional economics, The New Industrial Geography opens new perspectives in economic geography. In its focus on historical and geographical context, institutional embeddedness, and tacit rules and formal regulations, institutional economics is shown to be the perfect basis for understanding the Drawing on the theoretical resources of institutional economics, The New Industrial Geography Privatization has been one of the most important elements of public policy in the last decade and there have been massive transfers of ownership from the public to the private sector on a national and international level.
This book combines thematic papers with country case studies to discuss the mechanisms which have enabled this to occur, and to Privatization has been one of the most important elements of public policy in the last decade and What is the animating 'spirit' behind what may appear to be the coldly calculating world of markets and business enterprise? Though often mathematically modelled in dry terms, markets can be looked at instead as meaningful domains of human activity. To economists, markets have been seen as nothing but objective 'forces' or allocation 'mechanisms' What is the animating 'spirit' behind what may appear to be the coldly calculating world of markets This book discusses the way in which economic integration and preferential trade agreements reinforce or alter the existing location of industries.
Using a conceptual approach with real life examples, the author seeks to clarify and explain the key tendencies of the relationship and influence between spatial distribution of production and economic This book discusses the way in which economic integration and preferential trade agreements When can a country be said to benefit from free trade? This question has obsessed economists for more than years, and a definitive answer has never been provided. Continuing the influential work begun in The Gains from Trade and the Gains from Aid, Routledge , Murray Kemp here presents the recent progress he and his co-workers have made The article ends with a view towards the future introducing three possible scenarios for the IPE sub-discipline.
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While the term 'political economy' has of course a formidable intellectual pedigree, IPE scholars came to associate themselves with this new label only during the s, when a group of political scientists defined IPE as an autonomous field of research apart from economics. The volume by Robert Keohane and Joseph Nye "Power and Interdependence"  emblematically signaled the arrival of the new sub-discipline within International Relations.
Scholars increasingly realized the multiple interactions between politics and economics on the international level as discussed by Keohane and Nye studying the political implications of the oil shocks during the s which required an integrated perspective between the two professions. This brief overview about the "state of the art" in International Political Economy will introduce the field along metatheoretical lines.
Any substantial theory in the social sciences in general and international relations in particular is built upon a specific philosophy of social science or metatheory. Metatheory includes ontological claims - claims about existence of the form 'what is the world made of '. Epistemological considerations are claims about what would constitute a valid knowledge claim, and the grounds for such claims. Epistemology is closely related to methodological implications.
Methodology is focused on the specific ways - the methods -that we can use to try to understand our world better Smith Taken together, ontology, epistemology and methodology form a tripartite system of acquiring knowledge along the following lines: "if you believe in X ontology and wish to ground the claim X in Y epistemology then you should follow method Y methodology " Wight 41, fn 4.
In other words, depending on what you believe the world of IPE mainly consists of, you have a preference for the objects of your investigation.
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Likewise, virtually all IPE scholars approach their research questions with the help of specific methodological understandings. While these metatheoretical decisions remain mostly implicit in theoretical and empirical research, the purpose of this paper is to make them explicit and visible.
After discussing what IPE is all about, I will separate the research tradition in the United States from the one in Western Europe in order to highlight the different trajectory that the sub-discipline has taken in both regions. I conclude with a brief consideration of possible scenarios for the future. The U. The parallel existence and mutual interaction of 'state' and 'market' in the modern world create 'political economy' In the absence of the state, the price mechanism and market forces would determine the outcome of economic activities; this would be the pure world of the economist.
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In the absence of the market, the state or its equivalent would allocate economic resources; this would be the pure world of the political scientist Gilpin 8. Both spheres - state and market - are supposed to operate separately, with different functional logics. While power politics dominates the political realm, market processes are driven by economic or efficiency imperatives. However, the increasingly complex links between developed countries described by Keohane and Nye and more recently the onslaught of globalization in all its different forms, including the rise of new actors such as multinational corporations and social movements across borders, have challenged the treatment of states and markets as separate and contesting units of analysis, reinforcing the political and scientific significance of their mutual interconnectedness Strange 2.
We now live in the era of a truly global economy reaching virtually all parts of the world and making economic integration a fact of life. On the other hand, we are still confined by a fragmented political system of states, which are desperately trying to keep control of economic globalization. The resulting tensions and constant interactions between politics and economics make for the 'bread and butter' of analyses in IPE.
Rather than thinking in terms of separate spheres, contemporary IPE can be defined as the analysis of the interaction between the political and the economic sphere involving state and non-state actors on the national and the international level. Politics and economics have transcended their traditional disciplinary anchors and their fusion has given rise to numerous theoretical research agendas and empirical analyses. The main topics in contemporary IPE are either specific issue-areas such as international trade, international finance, and economic development, or questions of political regulation under the term governance of the international economy.
Examples for specific research areas are the political and institutional determinants of foreign trade policy, the effects of foreign direct investment on domestic political processes and institutions, the amount of economic 'development space' granted by multilateral economic institutions to developing countries, and the political effects of economic globalization on states.
Yet recent theoretical and empirical developments have superseded these hermetical divisions between the three schools of thought. First, realism and liberalism have converged on many important points. While the debate between neorealism and neoliberalism characterized the theoretical discourse in IPE during the s, it ended with a pragmatic fusion of sorts Baldwin Sharing important ontological and epistemological assumptions, realist scholars increasingly embraced the rationalist, 'scientific' methodology derived from neoclassical economics, while liberals came to appreciate the relevance of power and structural anarchy for the analysis of international economic co-operation.
The result has been the hegemony of a specific metatheoretical approach to IPE in the United States see below. While most textbooks focus on the capitalist world system theory of Immanuel Wallerstein as the main protagonist of this paradigm Wallerstein , recent contributions in the Marxist literature challenge its over-deterministic, structural analysis of history. More nuanced approaches have emerged that try to 'bring the capitalist state back in' and to transcend the class-based exploitative politics of traditional Marxism.
Especially neo-Gramscian scholars have contributed a new theoretical vocabulary and a new empirical focus to study the multiple, often hidden dimensions of exploitation, including the various discursive techniques seen as expressions of power relations Gill A related aspect of the relative decline of Marxist structuralism has been the virtual disappearance of genuine 'Latin American voices' in mainstream IPE.
The comparative advantage of Latin American scholars as the originators of the dependency theory dissipated with the end of Cold War and the triumph of neoliberal ideology in economic theory and practice in the developing world. Latin American IPE scholars - a rare specie in any case -have largely shied away from subscribing to the emerging dominance of the liberal-institutionalist paradigm in the United States and have instead pursued a strategy of theoretical eclecticism in their writings Tickner 3.
Yet, the lack of diversification in both theoretical approach and research method has limited the visibility and influence of Latin American writers in the contemporary IPE discipline, at least beyond the region itself 4. Third, many contemporary IPE scholars do not define themselves as followers of one of the three paradigms. The main reason is that each school presents a coherent but largely self-contained interpretive framework that focuses on one aspect of the international political economy but neglects many others.
A significant amount of IPE students is unwilling to make the trade-off between paradigmatic consistency and engaging the infinite range of processes and actors in IPE. Studying the complexities and inherent contradictions of the international political economy requires leaving behind the "either-or" mentality suggested by the paradigmatic division in the search for better explanatory theories 5. One defining trend over the last fifteen years in the IPE field has been the growing distance between the United States and Western Europe in discursive terms. Liberal or rational institutionalism has established itself as the undisputed metatheoretical orthodoxy in the U.
IPE in the United States has so many commonalities with neo-classical economics, both from an epistemological and a methodological point of view, that the latter clearly serves as the 'lead discipline' in U.
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As a result, a wide range of substantial causal theories have been derived under this common framework for various aspects of the international political economy. The convergence around major ontological, epistemological and methodological issues and problems in U. IPE takes the following form.
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The majority of U. IPE scholars accept the ontological premise that human interactions have a material foundation. Actors are essentially driven by material interests, not norms or ideas. As a consequence, depending on the position in the domestic political economy, different actors will pursue different goals, yet all of them with a material substance.
The goal-oriented, utility-maximizing behavior of rational, self-interested individuals is the ontological baseline from where substantial theory-building is supposed to start. For example, while domestic economic groups strive for additional wealth, policy-makers are primarily interested in reelection. The concepts and methodologies of neoclassical economics and especially its inherent methodological individualism constitute the epistemological backbone of the IPE mainstream in the U.
The strategic choice framework has been particularly influential in tackling research questions in IPE, where individual behavior is aggregated into group behavior Lake and Powell A neo- positivist, empiricist research strategy aimed at uncovering causality and empirical regularities with the help of scientific inference reflects the methodological core of contemporary IPE in the United States King et al.
This often comes in form of using quantitative or statistical methods in order to allow for law-like generalizations and parsimonious theoretical arguments 6.