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Liberal Perspectives on the Global Political Economy  

Darel E. Paul

Liberal international political economy (IPE) is the offspring of a marriage between mainstream international economics with its focus on markets and mainstream international relations with its emphasis on the state. While clearly involving the traditional disciplines of economics and political science, liberal scholarship in IPE tends to be housed almost exclusively in the latter. Liberal IPE has always maintained a special relationship with its absentee father economics, looking to it particularly as a source of theoretical and especially methodological inspiration. In its earlier phase, the “American school” of IPE, also known by its practitioners as Open Economy Politics (OEP), was strongly oriented toward studying the societal determinants of state trade policy and indeed continues to expand upon this terrain. OEP has moved into many diverse areas since then. Having roots in both neoclassical economics and realist international relations theory, OEP has a strong tendency to limit its empirical interest to observable behavior, define interest in strictly material terms, and assume the psychology of decision-making to be rational and therefore unproblematic. Unsurprisingly, OEP has little room for ideas as interesting and important objects of study, and in turn some of the early pioneers of the liberal approach in IPE have lamented its becoming “too materialistic.”


Globalization and the Global Political Economy  

Ronen Palan and Angus Cameron

Like many other social scientific terms, the exact meaning of globalization has always been unclear. It does not have a single point of origin, but emerged in the mid to late 1980s in several disciplines. In the general sense, globalization is the increasing interaction of people through the growth of the international flow of money, ideas, and culture. It first manifested in media and cultural studies as early as the 1970s—the spread of TV, telephones, information and communication technology (ICT), and other media provided an enduring image of the technological “shrinking” of space, a defining trait of globalization. Advances in the means of transport (such as the steam locomotive, steamship, jet engine, and container ships) and in telecommunications infrastructure (including the rise of the telegraph and its modern offspring, the Internet and mobile phones) have been major factors in globalization, generating further interdependence of economic and cultural activities. In connection to the study of globalization, global political economy (GPE), or international political economy (IPE), is an academic discipline that analyzes economics and international relations. As an interdisciplinary field, it draws on a few distinct academic schools, most notably economics, political economy, political science, sociology, history, and cultural studies. Other topics that command substantial attention among IPE scholars are international trade, international finance, financial crises, macroeconomics, development economics, and the balance of power between and among states and institutions.


Gender and the Global Political Economy  

Penny Griffin

Feminist and gendered interventions in the discipline of international political economy (IPE) traces the constitutive and causal role that gender plays in the diverse forms, functions, and impacts of the global political economy (GPE). There are subtle distinctions between “feminist” and “gendered” political economy. The term “feminist IPE” is assigned only to those scholars who identify directly with feminism and label themselves feminist. “Gendered IPE” includes feminist IPE, but also incorporates those analyses not necessarily centered on women’s work, their practices, and their experiences. Whether understood empirically or analytically, increased references to “gender” in IPE invariably resulted from the extensive, varied, and challenging feminist theorizing that had made visible the neglect of sex and gender in IPE. Indeed, gendered IPE scholarship is dedicated to transforming knowledge through committed gender analysis of the global political economy, deploying “gender” as a central organizing principle in social, cultural, political, and economic life. A relatively recent theoretical turn in gendered political economy thoroughly highlights the problems involved when gender is entirely associated with the body as a mark of human identity. Contemporary gendered IPE covers the variety of ways in which analysis of a person’s sex is simply not enough to describe their experiences. Indeed, ongoing feminist and gendered IPE concerns generally focus on the marginalization of gender analysis in IPE. Meanwhile, promising avenues in gendered IPE include gender and sexuality in IPE, as well as gender and the “Illicit International Political Economy” (IIPE).


Peacekeeping Economies  

Kathleen M. Jennings

“Peacekeeping economy” designates the political economy of a peacekeeping operation. It broadly encompasses economic activity that either would not occur, or would occur at a much lower scale and pay rate, without the international peacekeeping (or peacebuilding) presence. Peacekeeping economies are, to a significant degree, inextricable from peacekeeping missions: While they are not under the purview or direct control of the mission, the formal and informal economic activity that they include is important to peacekeeping missions’ ability to function in the host society. Of course, behind this simple formulation is a significantly more complex phenomenon. Moreover, the peacekeeping economy is not just an interesting empirical reality. It is also a useful analytical framework for examining and better understanding how peacekeeping is designed, regulated, and done; its socioeconomic, gendered, and racialized dimensions; and its (intended and unintended) consequences.



Tony Porter

The literature on the global organization of finance has grown along with the global financial system, but also in response to theoretical innovations that suggested new lines of inquiry. In the 1970s and early 1980s, the emerging field of international political economy began to make valuable contributions to our understanding of global finance, but these focused on monetary politics or the formal intergovernmental organizations such as the IMF. By the 1990s, the literature focused on the greater complexity evident in global finance as traditional bank lending was increasingly displaced by other types of financial instruments, such as bonds, equities, and derivatives, which were also spreading geographically to influence “emerging markets” in the developing world and in countries in transition from communism. Since the mid-1990s, three interconnected changes in theory and practice are evident in international political economy (IPE) literature on the global organization of finance. First, the theoretical changes that characterized the broader fields of international relations and IPE were evident in the study of the global organization of finance as well, including the emergence of a new divide separating rational choice approaches from constructivism and other approaches. Second, the growing prominence of the concepts of globalization and global governance in the study and practice of international affairs inspired new literatures that overlapped and interacted with the IPE literature. Third, criticisms of globalized financial markets and questions of accountability and democracy directed at these markets grew and their role in structural adjustment.


Legal Perspectives in IR and the Role of Latin America  

Juliana Peixoto Batista

The room for dialogue between international law (IL) and international relations (IR) is vast. Since the emergence of the liberal world order in the 20th century, there is a growing closeness between IL and IR approaches. Latin America played a significant role in this process, helping to shape the liberal world order. Despite the fact that liberal approaches to IR and IL promote the most self-evident interdisciplinary dialogue, there is a growing intersection field in critical approaches to IR and IL that should be further explored, and Latin America also has a role to play in that cross-fertilization process. By analyzing critical approaches, the narrative in both disciplines can be expanded, bringing a Global South perspective to the mainstream debate. How did IL scholars read changes in the international system from the second half of the 20th century? How did IR scholars read changes in the role of IL in the international system at the beginning of the 21st century? What is the role of Latin America and its contribution to these changes? With this in mind, intersection spaces can be revealed where room for conceptual, methodological, and collaborative work can be explored.


Habitus and Field  

Anna Leander

The terms habitus and field are useful heuristic devices for thinking about power relations in international studies. Habitus refers to a person’s taken-for-granted, unreflected—hence largely habitual—way of thinking and acting. The habitus is a “structuring structure” shaping understandings, attitudes, behavior, and the body. It is formed through the accumulated experience of people in different fields. Using fields to study the social world is to acknowledge that social life is highly differentiated. A field can be exceedingly varied in scope and scale. A family, a village, a market, an organization, or a profession may be conceptualized as a field provided it develops its own organizing logic around a stake at stake. Each field is marked by its own taken-for-granted understanding of the world, implicit and explicit rules of behavior, and valuation of what confers power onto someone: that is, what counts as “capital.” The analysis of power through the habitus/field makes it possible to transcend the distinctions between the material and the “ideational” as well as between the individual and the structural. Moreover, working with habitus/field in international studies problematizes the role played by central organizing divides, such as the inside/outside and the public/private; and can uncover politics not primarily structured by these divides. Developing research drawing on habitus/field in international studies will be worthwhile for international studies scholars wishing to raise and answer questions about symbolic power/violence.


Gramscian International Political Economy from a Feminist Perspective  

Pooja Rishi

Feminist Gramscian international political economy (IPE) is an interdisciplinary intellectual project that has focused both on theoretical and empirical analysis of women and gender within the field. Feminist Gramscian IPE emerged from the confluence of an eclectic body of work over the last several years encompassing fields as disparate as international relations, IPE, feminist economics, the literature on gender and development, and feminist literature on globalization. As with feminist perspectives in other disciplinary fields, Gramscian feminists have largely embraced postpositivist, interpretivist, and relational analysis while trying to maintain the emancipatory potential of their work for women the world over. Current Gramscian feminist analyses are firmly grounded and draw from early Marxist/Socialist feminist interventions. They have also engaged with the three major categories of analysis in Gramscian thought—ideas, material capabilities, and institutions—in order to understand hegemonic processes that function to (re)construct and (re)produce both gendered categories of analysis and practice. Feminist revisions of Gramscian IPE have focused on international institutions, rules and norms, while simultaneously shedding light on contemporary states and how they are being transformed in this current phase of globalization. Three central tasks that feminist Gramscian scholars may consider in future research are: to be more engaged with the notion of hegemony, to revisit the political methodology employed by many feminist Gramscian analyses, and to devote more attention to non-mainstream perspectives.


Investment and Transnational Corporations  

Jonathan Crystal

Transnational corporations (TNCs) are networks of related enterprises, composed of a parent in one country and subsidiaries or affiliates in other countries. They play a central role in the global economy, and have recently come into focus in international political economy (IPE) scholarship. Early studies on TNCs and foreign direct investment (FDI) took place in the late 1960s and the 1970s. FDIs are a type of cross-border investment in which a resident in one economy establishes a lasting interest in an enterprise in another economy, in order to ensure a significant degree of influence by the direct investor in the management of the direct investment enterprise. Both TNCs and FDIs were controversial in the field, as tensions arose between TNCs and host states and people began to question whether or not FDIs were beneficial for developing countries. By the 1980s and 1990s, the world fell into the grip of financial crisis, and the study of TNCs fell largely into neglect, only to witness a revival during the 2000s. Since then, while the field of IPE has returned to focus its research on FDI, the current literature has taken a different track from the earlier work, and the results have made important contributions to answering questions about the effects of FDI and about what affects firm–state bargaining or the governance of TNCs in the twenty-first century. Too much of the recent literature, however, still focuses narrowly on explaining investment flows.


Trade: Determinants of Policies  

Marc L. Busch and Edward D. Mansfield

A survey of the literature on trade has revealed that it is becoming more difficult for elected officials resist protectionist pressures by citing constraints imposed by global pacts and supply free trade. There are two main reasons why. First, the literature on the design and politics of international institutions increasingly emphasizes how they build in slack that can undermine government claims of being constrained. Second, as states accede to an ever-growing list of overlapping international institutions, there is often a choice among, or uncertainty over, which institution’s obligations apply. Where this situation creates more policy space for government officials, it also will make it more difficult for them to credibly tie their hands and supply free trade in the face of interest group pressures for protection. Currently, the literature is somewhat at a turning point. Questions about the design and politics of international institutions, and the growing thickness of the market for them, are very much in vogue. These questions have profound implications for the supply of free trade. The credibility of elected officials’ hands-tying strategies is likely undermined where institutions anticipate the political reactions of their members, or where members can shop for different rules on trade to accommodate domestic preferences. The irony is that the proliferation of international institutions may lead scholars of trade policy to renew their focus on domestic interest groups.


International Political Economy: Overview and Conceptualization  

Renée Marlin-Bennett and David K. Johnson

The concept of international political economy (IPE) encompasses the intersection of politics and economics as goods, services, money, people, and ideas move across borders. The term “international political economy” began to draw the attention of scholars in the mid-1960s amid problems of the world economy and lagging development in the third world. The term “global political economy” (GPE) later came to be used frequently to illustrate that what happens in the world is not only about interactions between states and that the GPE includes many different kinds of actors. The survey aims at a comprehensive picture of the different schools of IPE, both historically and as they have developed in the early 21st century. Authors of antiquity, such as Aristotle and Kautilya, explored the relationship between the political and the economic long before the term “political economy” was coined, presumably by Antoine de Montchrestien in 1613. The mercantilist writings of the 17th and 18th centuries, including those of Colbert, Mun, and Hamilton, argued in favor of the state using its powers to increase its wealth. List, writing in the 19th century, emphasized the tension between national economic self-determination and free markets. The 19th- to 20th-century iteration of the mercantilist view can be found in the form of economic nationalist policies, which link to a realist approach to international relations more generally. Theorists of the Global South have adapted economic nationalist policies to address the problem of development. The liberal tradition of IPE also has historical antecedents, beginning with classical political economy. Examples include the influential works of Locke, Hume, Smith, and Ricardo. After World War II, the economic writings of Keynes, Hayek, and Friedman were influential. Variants of neoliberal IPE can be found from the 1950s with scholarship on integration and from the late 1970s with scholarship on international regimes. Late-20th-century and early-21st-century liberal scholarship has also explored varieties of capitalism and economic crises. An alternative stream of IPE can be traced through Marxian political economy, beginning with the work of Marx and Engels in the 19th century and proliferating globally. This approach provides a critique of capitalism. Other critical approaches that have emerged in the 20th and 21st centuries include feminist global political economy and postcolonial critiques of liberal and Marxian analyses. Trends in scholarship include analyses of China and transition of the neoliberal order, queer theory for global political economy, and studies of growing trends toward precarious forms of labor. A final section discusses research beginning in the 1990s that is relevant to the global political economy of transborder transmission of disease, a topic of special concern in light of the Covid-19 pandemic of 2020.


Mercantilist and Realist Perspectives on the Global Political Economy  

Daniel W. Drezner

Mercantilism and realism would appear to go hand in glove with each other. If realism represents both a systemic worldview and explanatory model for world politics, then mercantilism would appear to be the paradigm’s default foreign economic policy doctrine. And, to be sure, there are obvious and strong areas of overlap. Both paradigms stress the autonomous role of the state—and warn against capture by particularistic interests. Both also stress the conditioning effects of the distribution of power in defining national economic interests. Despite these constants, however, over time, the two approaches diverged more and more. Most modern-day writers who sympathize with mercantilism do so from perspectives ranging from left-leaning social democracy to more radical Gramscian critiques. Realists, on the other hand, have tended to gravitate towards the conservative, Burkean side of the political spectrum. While realists and mercantilists might agree on the role that power plays in the global economy, they do not necessarily agree on the normative implications of that insight. Paradoxically, as realism has acquired a more “scientific” cast, it has become less influential in international political economy (IPE) scholarship. For realism to maintain its relevancy in IPE, it must reacquire its deftness in incorporating nonstructural variables into its explanatory framework. The paradigm retains some useful predictive power for how systemic political variables affect global economic outcomes, but it is of little use in discussing the reverse causal effects.


Crime: The Illicit Global Political Economy  

John T. Picarelli

Transnational crimes are crimes that have actual or potential effect across national borders and crimes that are intrastate but offend fundamental values of the international community. The word “transnational” describes crimes that are not only international, but crimes that by their nature involve cross-border transference as an essential part of the criminal activity. Transnational crimes also include crimes that take place in one country, but their consequences significantly affect another country and transit countries may also be involved. Examples of transnational crimes include: human trafficking, people smuggling, smuggling/trafficking of goods, sex slavery, terrorism offences, torture and apartheid. Contemporary transnational crimes take advantage of globalization, trade liberalization and new technologies to perpetrate diverse crimes and to move money, goods, services, and people instantaneously for purposes of perpetrating violence for political ends. While these global costs of criminal activity are huge, the role of this criminal market in the broader international economic system, and its effects on domestic state institutions and economies, has not received widespread attention from an international political economy (IPE) or political science perspective. Given the limits on the exercise of extraterritorial enforcement jurisdiction, states have developed mechanisms to cooperate in transnational criminal matters. The primary mechanisms used in this regard are extradition, lawful removal, and mutual legal assistance.


International Insertion: A Non-Western Contribution to International Relations  

Fabrício Chagas-Bastos

International insertion is a concept that comes from non-Western intellectual origins and can help individuals understand how peripheral and semi-peripheral countries behave in world politics, and their interests, core values, and strategies. International insertion also expands the knowledge to characterize how agency spaces are created by peripheral countries. Insertion is a necessary step to those countries attempting to transition from the condition of one who seeks to be recognized as part of, to one who is admitted as possessing and capable of seeking status and acting within political, economic, and military global hierarchies. In a nutshell, insertion means being recognized by the small group of gatekeeping states as a relevant part of the specific social networks that constitute the global hierarchy. The conceptualization of international insertion allows a robust middle-range explanation that considers multiple dimensions (political, economic, and military) of the national and international structural and contextual aspects these actors must translate to navigate world politics.


Foreign Policy Analysis and Rational Choice Models  

Bruce Bueno de Mesquita

Since the end of World War II, foreign policy thinking has been dominated by a realist (or neorealist) perspective in which states are taken as the relevant unit of analysis. The focus on states as the central actors in international politics leads to the view that what happens within states is of little consequence for understanding what happens between states. However, state-centric, unitary rational actor theories fail to explain perhaps the most significant empirical discovery in international relations over the past several decades. That is the widely accepted observation that democracies tend not to fight wars with one another even though they are not especially reluctant to fight with autocratic regimes. By looking within states at their domestic politics and institutionally induced behavior, the political economy perspective provides explanations of the democratic peace and associated empirical regularities while offering a cautionary tale for those who leap too easily to the inference that since pairs of democracies tend to interact peacefully; therefore it follows that they have strong normative incentives to promote democratic reform around the world. Rational choices approaches have also helped elucidate new insights that contribute to our understanding of foreign policy. Some of these new insights and the tools of analysis from which they are derived have significantly contributed to the actual decision making process.


The Global Political Economy of the Informal Mining Industry: A Critical Analysis of Latin American Perspectives  

Santiago Carranco-Paredes

The traditional paradigms within International Political Economy (IPE) and International Relations (IR) have historically focused primarily on formal sectors of political and economic activities, often overlooking analyses of informal or covert realms. This approach has limited the comprehension of global power dynamics, neglecting crucial insights into phenomena occurring within the informal sector. The oversight of informal actors, considered irrelevant by conventional perspectives, hampers a holistic understanding of global relations. This research adopts a critical stance, drawing on the insights of Robert Cox and postcolonial contributions, to challenge the traditional paradigms of IPE and IR. It advocates for a more inclusive and comprehensive approach that recognizes the agency of non-state actors in transnational processes. Through a focused examination of the small and medium-scale gold-mining sector, this study seeks to transcend the state-centric approach, providing a broader understanding of global relations. The analysis delves into the intricate dynamics of this sector, shedding light on the significant role played by non-state actors in shaping transnational processes. By doing so, the research contributes to the development of a more inclusive and nuanced global political economy. It emphasizes the need to incorporate diverse perspectives and account for local realities, thereby enriching the academic discourse on global relations. In essence, this research challenges the established narratives, advocating for a paradigm shift that acknowledges the multifaceted and influential role of non-state actors in the global arena. The study’s findings offer valuable insights into the complexities of global relations, highlighting the interconnectedness of formal and informal sectors. This approach not only deepens the understanding of the small and medium-scale gold-mining sector but also fosters a more comprehensive and inclusive framework for analyzing global political and economic phenomena.


Globalization through Feminist Lenses  

Angela B. McCracken

Feminist scholarship has contributed to the conceptual development of globalization by including more than merely the expansion and integration of global markets. Feminist perspectives on globalization are necessarily interdisciplinary; their definitions and what they bring to discussions of globalization are naturally shaped by differing disciplinary commitments. In the fields of International Relations (IR) and International Political Economy (IPE), feminists offer four major contributions to globalization scholarship: they bring into relief the experiences and agency of women and other marginalized subjects within processes of globalization; they highlight the gendered aspects of the processes of globalization; they offer critical insights into non-gender-sensitive globalization discourses and scholarship; they propose new ways of conceiving of globalization and its effects that make visible women, women’s agency, and gendered power relations. The feminist literature on globalization, however, is extensively interdisciplinary in nature rather than monolithic or unified. The very definition of key concepts such as globalization, gender, and feminism are not static within the literature. On the contrary, the understanding of these terms and the evolution of their conceptual meanings are central to the development of the literature on globalization through feminist perspectives. There are at least four areas of feminist scholarship on globalization that are in the early stages of development and deserve further attention: the intersection between men/masculinities and globalization; the effects of globalization on women privileged by race, class, and/or nation; the gendered aspects of the globalization of media and signs; and the need for feminists to continue undertaking empirical research.


Teaching International Relations Theory  

Craig Douglas Albert

International relations (IR) theory is favorably described in almost every syllabus since 1930. The most important questions asked were: “What is theory?” and “Is there a reason for IR theory?” The most widely used texts all focus on the first question and suggest, among others, that IR theory is “a way of making the world or some part of it more intelligible or better understood.” We can gauge where the teaching of IR theory is today by analyzing a sample of syllabi from IR scholars serving on the Advisory Board of the International Studies Association’s (ISA) Compendium Project. These syllabi reveal some trends. Within the eight undergraduate syllabi, for example, a general introduction to IR theory is taught in four separate classes. Among the theories discussed in different classes are realism, classical realism, neo-realism, Marxism and neo-Marxism, world-systems theory, imperialism, constructivism, and international political economy. Novel methods for teaching IR theory include the use of films, active learning, and experiential learning. The diversity of treatments of IR theory implied by the ISA syllabi provides evidence that, with the exception of the proliferation of perspectives, relatively little has changed since the debates of the late 1930s. The discipline lacks much semblance of unity regarding whether, and how, to offer IR theory to students. Nevertheless, there have been improvements that are likely to continue in terms of the ways in which theories may be presented.


Review of Available Data Sets  

Paul R. Hensel

The International Studies Association’s (ISA) Scientific Study of International Processes (SSIP) section is dedicated to the systematic analysis of empirical data covering the entire range of international political questions. Drawing on the canons of scientific inquiry, SSIP seeks to support and promote replicable research in terms of the clarity of a theoretical argument and/or the testing of hypotheses. Journals that have been most likely to publish SSIP-related research include the top three general journals in the field of political science: the American Political Science Review, American Journal of Political Science, and Journal of Politics. A number of more specialized journals frequently publish research of interest to the SSIP community, such as Conflict Management and Peace Science, International Interactions, International Organization, International Studies Quarterly, Journal of Conflict Resolution, and Journal of Peace Research. Together, these journals published a total of 1,024 qualifying articles between 2003 and 2010. These articles cover a wide range of topics, from armed conflict and conflict management to terrorism, international political economy, economic development or growth, monetary policy, foreign aid, sanctions, human rights and repression, international law, international organizations/institutions, and foreign policy attitudes and beliefs. Data users who are interested in conducting their own research must: choose the most appropriate data set(s), become familiar with what the data set includes and how its central concepts are measured, multipurpose data sources, investigate missing data, and assess robustness across multiple data sets.


Middle East Foreign Policy  

Manochehr Dorraj

The scholarly literature on Middle Eastern foreign policies has long treated the region as a pawn in the larger game of the great powers’ international rivalry for global supremacy. During the Cold War, Middle Eastern foreign policies were seen in terms of East-West confrontation, or as a replica of Western foreign policies. Over time, more sophisticated theories of Middle Eastern foreign policy have emerged. Two of the earliest theories that were applied to the study of Middle Eastern foreign policies were diplomatic political history and psychological approaches. Some scholars argue that the behavior of Middle Eastern states is reflective of some of the basic premises of the realist theory. Others, adopting a neorealist structural approach, contend that while Middle Eastern states may use the language of Islam and Pan-Arabism, power politics still lies at the core of their foreign policy. These scholars consider the shift in the regional and the global balance of power as the major explanatory factors for understanding foreign policy changes in the Middle East. Then there are those who conceptualize Middle Eastern foreign policies primarily in terms of dependency theory, the core-periphery power relations, and a struggle for the control of the region's oil and energy. Two other approaches to the study of Middle Eastern foreign policies are international political economy and bureaucratic politics. The Palestinian–Israeli conflict has been a major polarizing issue responsible for radicalization of regional politics and foreign policies in the Middle East.