Global governance

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Aims and scope: 

The course examines the political economy of 'North-South' relations, focusing on how changes in international organizations and the international policy framework affect developing countries' economic trajectories and national-level strategies for interaction with the global economy. It covers the performance of the world economy as a whole; international systems of production, trade, and finance; the rules or regimes which govern interaction between economies, states and firms (regimes such as Bretton Woods, and the Post Bretton Woods dollar standard); and several international organizations (such as the World Bank and IMF). Along the way it analyses the major financial/economic crises of 1997-99 and 2007-continuing. In contrast to much writing in International Political Economy, it looks at these things from the perspective of the low and middle-income countries (in the spirit of the Swahili proverb, "Until lions have their own historians tales of hunting will always glorify the hunters"), and does not take for granted that the G7 states provide a generally benign ("win-win") environment for development in the rest of the world.

  1. International political economy.
  2. The WTO, the world trade system, and international trade arrangements.
  3. The political economy of international trade.
  4. International trade and development.
  5. The international monetary system and international monetary arrangements.
  6. The political economy of international finance.
  7. International finance and development.
  8. Globalization and its consequences.
Indicative reading: 
  • John Ravenhill (ed) (2014) Global Political Economy, 4th edition, Oxford University Press.
  • Thomas Oatley (2013) International Political Economy, 5th edition, Pearson/Longman.
  • Andrew Walter and Gautam Sen (2008) Analyzing the Global Political Economy, Princeton University Press.
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