The Politics of International Economic Relations

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ISBN: 9780415166485 | 0415166489
Cover: Nonspecific Binding
Copyright: 4/24/1997

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This is the first book to give you the full breadth and depth of coverage you need to truly understand the politics of today's world economy-now and in your future career. Completely updated, the new edition reflects the sweeping changes that continue to reshape the international system. The Seventh Edition strengthens the text's contemporary coverage of political and economic relations, global inequality, and the transition to capitalism in the formerly communist countries. Its emphasis on the impact of globalization makes this definitive text ideal for equipping you with a global perspective.

Preface	p. xv
About The Authors	p. xvii
An Overview
From Management to Governance in International Economic Relations	p. 1
Bretton Woods	p. 1
Interdependence	p. 4
Globalization	p. 7
Conclusion	p. 10
The Western System
Governing the International Monetary System	p. 12
The Bretton Woods System	p. 14
The Original Bretton Woods System	p. 14
U.S. Leadership	p. 16
Multilateral Management Under U.S. Leadership	p. 17
From Bretton Woods to Interdependence	p. 20
Financial Interdependence and Pluralism	p. 20
The Nixon Shock and the Emergence of Floating Exchange Rates	p. 24
Petrodollar Recycling	p. 25
Interdependence	p. 28
Growing Financial Interdependence	p. 28
Liquidity: The Problem of the Dollar	p. 29
Adjustment Under Floating Exchange Rates	p. 30
Stability and Crisis Management	p. 35
Europe's Efforts to Build a Regional Monetary System	p. 40
Globalization	p. 42
Globalization of Financial Markets	p. 42
Economic and Monetary Union	p. 46
Adjustment	p. 48
Crisis Management	p. 53
Regional or Country-Based Crises	p. 54
Crises Involving Banks and Other Financial Institutions	p. 58
The Subprime Mortgage Crisis	p. 59
Preventing Future Crises	p. 61
Global Monetary Governance in the Twenty-First Century	p. 62
International Trade and Domestic Politics	p. 72
The Bretton Woods System	p. 73
The Havana Charter	p. 73
The General Agreement on Tariffs and Trade	p. 74
U.S. Leadership	p. 76
Interdependence	p. 79
Structural Change and Protectionism	p. 79
An Old Issue: Agriculture	p. 92
The New Protectionism	p. 93
The Tokyo Round	p. 96
Globalization	p. 98
New Forms of Trade	p. 98
The New Regionalism	p. 100
The Uruguay Round	p. 102
The Marrakesh Agreement	p. 105
New Trade Challenges	p. 107
Shifting Power Relationships	p. 110
The Doha Round	p. 113
Conclusions	p. 115
The Multinational Corporation and Global Governance	p. 128
Common Characteristics of MNCs	p. 130
Trends in FDI and Other MNC Activities	p. 135
Explaining the Growth in MNC Activity	p. 141
Horizontal and Vertical FDI and the KK Model	p. 141
Internalization Theory	p. 142
The OLI Model	p. 143
Product Cycle Theory	p. 143
Obsolescing Bargain Theory	p. 143
Oligopoly Theory	p. 144
The Tariff-Jumping Hypothesis	p. 145
The Importance of the Home Country	p. 145
The Consequences of MNC Activity	p. 146
Possible Negative Effects of MNCs	p. 148
National Economic Control	p. 150
Interference by Home Governments of Multinationals	p. 153
Multinationals and the National Political Process	p. 155
International Regimes for Foreign Direct Investment	p. 157
National Governance	p. 158
Regional Governance	p. 166
International Governance	p. 169
Governance in the OECD	p. 170
Governance in the United Nations	p. 172
Bilateral and Minilateral Governance	p. 173
International Investment Agreements	p. 173
The Multilateral Agreement on Investment	p. 174
Conclusions	p. 175
The North-South System
The North-South System and the Possibility of Change	p. 188
Liberal Theories of Economic Development	p. 193
Marxist and Neo-Marxist Theories of Development	p. 194
The Structuralists	p. 195
Contrasting Marxist and Structuralist Perspectives	p. 197
Weaknesses of the Three Perspectives	p. 198
Dependence	p. 201
Confrontation	p. 202
Globalization	p. 204
Financial Flows to Developing Countries	p. 212
Bretton Woods and Foreign AID	p. 213
The Original Bretton Woods	p. 213
The Link Between Aid and Foreign Policy	p. 213
Stagnation of Aid	p. 215
Financial Flows in the Era of Interdependence	p. 217
Confrontation and the New International Economic Order	p. 217
Privatization of Financial Flows	p. 219
The Decline of Aid in the 1980s	p. 221
The Debt Crisis of the 1980s	p. 224
Debt Crisis Management	p. 228
Debt Fatigue	p. 230
Globalization	p. 232
Emerging Markets	p. 232
Financial Crises of the 1990s	p. 233
Common Causes, Distinct Consequences	p. 239
Financial Flows to the Poorest Developing Countries	p. 240
Financial Flows in the Twenty-First Century	p. 241
Millennium Development Goals	p. 243
The Impact of Financial Flows	p. 245
Conclusion: The Future of Financial Flows	p. 248
Trade and Development Strategies	p. 257
Bretton Woods: Isolation from the Trading Order	p. 257
Import Substitution	p. 257
Trade Expansion and Declining Terms of Trade	p. 259
Unity and Confrontation	p. 262
Interdependence: Strategies to Increase Southern Power	p. 265
Commodity Power and the New International Economic Order	p. 265
Export-Led Growth	p. 268
Theoretical Controversies over Export-Led Growth	p. 272
New Pressures for Protection in North-South Trade	p. 273
The New Pragmatism	p. 275
Globalization: Joining the Trade Regime	p. 277
The Uruguay Round	p. 277
The Rise of the BRICs	p. 280
The Doha Round	p. 282
North-South Trade in the Twenty-First Century	p. 287
Multinational Corporations in the Third World	p. 298
The Role of MNCs and FDI in the South	p. 299
Bargaining for Greater Control	p. 303
Political Factors that Influence the Location of Foreign Direct Investment	p. 305
Arguments about the Positive Impact of MNCs on Economic Development	p. 306
Criticisms of the Role of MNCs in Economic Development in the 1970s	p. 308
The Economic Impact of MNCs in the Developing World: Empirical Evidence	p. 310
Interference by MNCs in National Politics: Empirical Evidence	p. 311
Interdependence	p. 312
Regulation of Inflows of Foreign Investment by Developing Countries in the 1970s	p. 312
The New Pragmatism	p. 317
Globalization	p. 322
The Rise of International Production Networks	p. 323
Third World MNCs	p. 324
MNCs and the Antiglobalization Movement	p. 325
The Future: Cooperation or Conflict?	p. 328
Oil and Politics	p. 338
Corporate Oligopoly	p. 340
Seven Sisters	p. 340
Decline of the Oligopoly	p. 342
The OPEC System	p. 343
Negotiation	p. 343
The First Oil Crisis: Unilateral Power	p. 344
Stable OPEC Management	p. 346
The Second Oil Crisis: A System Out of Control	p. 349
Other OPECs?	p. 350
OPEC in Decline	p. 355
The Impact of Higher Oil Prices	p. 355
Oil Price Wars	p. 359
Era of Globalization	p. 361
The Gulf War	p. 361
Oil in the Caspian Region	p. 363
Changing Economics of Oil at the End of the Twentieth Century	p. 365
Oil in the Twenty-First Century	p. 368
Rising Price of Oil	p. 368
The War in Iraq	p. 372
Looking Ahead	p. 373
Implications of the End of the Cold War
East-West Economic Relations: From Isolation to Integration	p. 378
The Cold War	p. 379
The Creation of an Eastern Economic Bloc	p. 379
Western Economic Warfare	p. 381
The Collapse of the Communist System	p. 384
Forces of Change in the East	p. 384
Gorbachev's Economic and Political Reforms	p. 388
The Failure of Perestroika	p. 390
From Communism to Capitalism	p. 392
Problems of Transition from Communism	p. 392
Yeltsin: Crisis and Reform	p. 393
Russian Foreign Economic Policies under Yeltsin and the West's Response	p. 396
The Crisis of 1998	p. 397
Domestic Economic Policies of the Putin Regime	p. 398
International Economic Relations in the Putin Era	p. 400
Economic Reform in Eastern Europe	p. 401
China	p. 405
Cold War and Isolation	p. 405
Deng Xiaoping's Economic Reforms	p. 408
China: Regional Power or Global Economic Superpower?	p. 415
Conclusion	p. 415
Conclusion: Globalization and Governance	p. 427
The Evolution of International Economic Governance	p. 428
Challenges for Global Governance	p. 432
Characteristics of a New System of Governance	p. 435
Glossary	p. 441
Acronyms	p. 475
Index	p. 481
Table of Contents provided by Ingram. All Rights Reserved.

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