During 1970s the developed countries tried to introduce protectionist measures which annoyed the developing economies that tried to establish the New Economic Order. Get Your Custom Essay on, By clicking “Write my paper”, you agree to our, Topic: Approaches to International Political Economy, Bretton Woods- International Political Economy, https://graduateway.com/approaches-to-international-political-economy/, Get your custom Lynne Rienner Publishers: Colorado, 1997. [17] Globalisation process is managed by the international institutions such as WTO, IMF, and World Bank.
Approaches to International Political Economy One can notice that different International Political Economy (IPE) approaches which have been used to discuss the changes in IPE during the pre modern and modern period. All you need to do is fill out a short form and submit an order. [18] Globalisation has challenged the interest of both strong states and weak states. [12] Jan Aart Scholte, p. 614. This study has proved that globalisation process has created economic inequality between North and South countries as the richer countries such as the USA were able to dominate the world economy. Dependency Approaches to International Political Economy A Cross National Study. (2016, Jul 07). Routledge: London, 2003. [8] Woods, p. 331. Negatively it has reduced the role of the state as the state cannot completely regulate the economic affairs such as trade transaction and investment of capital. The main aim of the dominant economies is to maintain their hegemony. economic liberalism, mercantilism, and structuralism. [7] After 1970 the scholars realised that there was a need for the discussion of the IPE through their publications. [21] Economic globalisation was promoted by the international agencies such as Bank for International Settlements, WTO, OECD, UNCTAD, and World Bank Group. 613-614. [6] Woods, 337. Another approach to IPE is the neo Gramscian approach which is more radical than rational choice because this approach highlights the factors such as politics, law, culture, and knowledge which influence the economic policies. One can notice that different International Political Economy (IPE)[1] approaches which have been used to discuss the changes in IPE during the pre modern and modern period. Scholars have debated regarding the intention of IMF imposing its conditions on the Asian countries which suffered from the economic crisis. In 1995, WTO replaced GATT as the WTO was expected to provide greater security to the developing economies.
The IMF introduced Special Drawing Right (SDR) which is the conversion of the computerised currency into money.
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