This text not only helps students understand the fundamentals of how the global economy works but also encourages them to use theory to more fully grasp the connections between key issue areas like trade and development. Written by a leading IPE scholar, Global Political Economy equally emphasizes theory and practice to provide a framework for analyzing current events and long-term developments in the global economy.
Global Political Economy Sixth Edition
THEODORE H.
COHN
Simon Fraser University
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To Shirley
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[email protected] For information regarding permissions, call (847) 486-2635. Library of Congress Cataloging-in-Publication Data Cohn, Theodore H Global political economy : theory and practice / Theodore H. Cohn.—6th ed. p. cm. Includes bibliographical references and index. ISBN-13: 978-0-205-07583-6 (alk. paper) ISBN-10: 0-205-07583-5 (alk. paper) 1. International economic relations. 2. International trade. 3. International finance. I. Title. HF1359.C654 2012 337—dc22 2010042877 1 2 3 4 5 6 7 8 9 10—COS —14 13 12 11
ISBN-13: 978-0-205-07583-6 ISBN-10: 0-205-07583-5
BRIEF CONTENTS Preface x Acronyms and Abbreviations
xvii
PART I
Introduction and Overview 1
CHAPTER 1
Introduction
CHAPTER 2
Managing the Global Economy Since World War II: The Institutional Framework 18
PART II
Theoretical Perspectives
CHAPTER 3
The Realist Perspective
56
CHAPTER 4
The Liberal Perspective
77
CHAPTER 5
Critical Perspectives
PART III
The Issue Areas
CHAPTER 6
International Monetary Relations
CHAPTER 7
Global Trade Relations
CHAPTER 8
Regionalism and the Global Trade Regime
CHAPTER 9
Multinational Corporations and Global Production 249
CHAPTER 10
International Development
CHAPTER 11
Foreign Debt and Financial Crises
PART IV
Concluding Comments
CHAPTER 12
Current Trends in the Global Political Economy 382
Glossary Index
409 419
2
52