A Study of Major Developments in the Global Political Economy of Trade (original) (raw)
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The Political Economy of International Trade
Annual Review of Political Science, 1999
▪ One of the most salient changes in the world economy since 1980 has been the move toward freer trade among countries across the globe. How do existing theories about trade policy explain this puzzle? Three sets of explanations are prominent. First, many focus on changes in trade policy preferences among domestic actors, either societal groups or political leaders. Second, scholars examine changes in political institutions to account for such policy change. Third, they seek explanations in changes in the international political system. Large-scale changes in political institutions, especially in the direction of democracy, may be necessary for the kind of massive trade liberalization that has occurred. But changes in preferences cannot be overlooked in explaining the rush to free trade. Moreover, the influence of international institutions has been important. Finally, the reciprocal impact of trade on domestic politics and the international political system is important. If the r...
Political Economy and Its Impact on International Trade
Humanities & Social Sciences Reviews, 2019
Purpose of the study: The aim of this study was to relate the political economy and its impact on trade and development of economy. One of the currently witnessed changes that strike out the most from previous years is the relatedness of each political economy aspect of the world. The dimension of economy can be found in different problems throughout the world and economy has become the most prioritized aspect in the 21st century. Methodology: The data for this study were obtained from existing literatures on political economy and trade as well. The methodology heavily relied on the existing previous literatures on the subject being dealt with. Results: The findings indicated that the government could decide to intervene in markets with the intention of limiting import or maximizing export. Trade barriers might be applied for the intention of limiting imports such as tariffs, import quotas, native gratified necessities, directorial strategies, and anti-dumping policies. Implications...
The Political Economy of the World Trading System
2001
Preface ix m an uscript, to Maarteri de Groot, M aria Kasilag, and Francis N g for p u lling togeth er data and preparing the figures, and to Lili Tabada for help in g to put togeth er the Index.
The Political Economy of the WTO
In the introduction to the first chapter author tried to emphasized that the amount of global trade rose dramatically in the second part of the XX century. One of the stimulus of that raise was the creation of GATT/WTO whose processes and disciplines became the tools for liberalization of international trade. Then author keeps on developing his idea -not only trade in goods, but also in services and knowledge showed impressive growth, trade volume has own rapidly than output and GDP (due to the spread of vertical specialization of production). Even though most of the developing countries (including LDCs) are the members of WTO and their part in global production increased, the poorest countries get no benefit from membership, interests of the countries are increasingly distinct.
Free International Trade: The Economic and Political Entites Clash
WandyEssays (Pty) Ltd., 2014
To state that international trade of goods and services across state borders is a tug of war between Government and Private trader is an obvious matter. If that was not so, we would not have bodies that watch over international trade like World Trade Organization (W.T.O.) formerly known as General Agreements on Tariffs and Trade (GATT). International trade of goods and services is surrounded by a series of rules and regulations that trade has to comply to. Trade barriers are of a greater issue in the international trade. The clashing views between government and wealth creators have not really got out of hand but that is where it is heading. A series of bad impacts, spillovers and externalities arise as these two super power entities of trade have everlasting debatable views about trade of goods and services across the global market. Ethical codes get breached, humanity stepped over and neglected due to trade. Welcome to my research that looks at issues or impacts that arise in the international trade of goods and services as Political Entities works jointly with Economic Entities and how they deteriorate or enhance state economy, politics and ethical issues.
The New Political Economy of Trading and its Institutional Consequences
International Political Science Review, 1999
This article offers a theory that can explain a relatively open international trade system as corresponding to a non-cooperative (in the game-theoretical sense) outcome of bargaining interactions between states. Such a non-cooperative outcome, as will be shown, can be expressed as a subgame perfect Nash equilibrium between several states or trading blocs. This type of Nash equilibrium does not lead countries to complete "free" trade, but to an outcome that is closer to what is usually called "managed" trade. The theory also shows that under certain circumstances, this Nash equilibrium corresponds to a trade war similar to the one that broke out in the 1930s, and has the advantage of explaining the emergence of large trading blocs. Also introduced is the concept of a two-dimensional strategy when actors use two independent instruments as policy tools and establish the existence of a unique Nash equilibrium between three actors optimizing in two instruments.
Journal of Policy Analysis and Management, 1988
necessarily and generally correct, only that we ought to look into ideas like this. All of the books reviewed here, especially Elazar's, raise for me enticing, far-reaching questions appropriate for empirical research that would usefully test many of the ideas in the literature about the character and workings of modern federal systems of government.
The Study of Global Political Economy
* The contemporary international economic system is more closely integrated than in any previous era. The recession of 2008–9 provides a clear illustration of the relationship between trade, finance, international institutions, and the difficulties that governments face in coping with the problems generated by complex interdependence. Before 1945, the spectacular increase in economic integration that had occurred over the previous century was not accompanied by institutionalized governmental collaboration on economic matters. International trade patterns also changed very little over several centuries before 1945. The end of the Second World War marked a significant disjunction: global economic institutions were created, and the transnational corporation emerged as a major actor in international economic relations. Since the emergence of international political economy (IPE) as a major subfield of the study of international relations in the early 1970s, IPE scholars have generated an enormous literature that has been the product of the employment of a wide variety of theories and methods. Most introductions to the study of IPE have divided the theoretical approaches to the subject into three categories: liberalism, nationalism, and Marxism. This threefold typology is of limited utility today, given the overlap between many of the approaches classified in different categories, and the wealth of theories and methodologies applied in the contemporary study of global political economy.