Global Political Economy Assignment Pap
Philip J. Taiwo
MSc Social Business and Microfinance – 2014/5
Module: Global Political Economy Assignment: Globalization constrains policy choices of domestic governments
This paper examines the overview of the field of global political economy and globalization and the impact of constrain policy choices of the domestic government. I examine the international trading system, the international monetary system, the international financial system and I argue that political economy and the resulting of globalization exerts strong pressures on the local government’s economy to stay competitive and to reduce government spending and thus enable especially those from the development countries remains international financial dependencies. However, the important tasks in a globalized economy are inevitable.
Globalization
Philip Cerny (1995) argues globalization transforms collective action in domestic and international politics. Cerny continued by saying globalization is a set of economic and political structures and it a process which derives from the changing character of the goods and assets that comprise the base of the international political economy. This the author refers to as the increase structural differentiation of those goods and assets. Kayser (2007) looked at how globalization has influenced domestic politics and suggested that it has disproportionately focused on questions of policy rather than politics. Who are the players of globalization? To answer this question, I hypothesize that member states are involved in the global fiscal policies debates. However, the International institutions are the major player in implementing and enforcing the agreed fiscal policies. Example, the International Monetary Funds or the (I.M.F.) is charged of global economy integration and to implement policies and, the World Trade Organizations or the (W.T.O.) is charged of implementing and regulating the international trade regulations and
MSc Social Business and Microfinance – 2014/5
Module: Global Political Economy Assignment: Globalization constrains policy choices of domestic governments
This paper examines the overview of the field of global political economy and globalization and the impact of constrain policy choices of the domestic government. I examine the international trading system, the international monetary system, the international financial system and I argue that political economy and the resulting of globalization exerts strong pressures on the local government’s economy to stay competitive and to reduce government spending and thus enable especially those from the development countries remains international financial dependencies. However, the important tasks in a globalized economy are inevitable.
Globalization
Philip Cerny (1995) argues globalization transforms collective action in domestic and international politics. Cerny continued by saying globalization is a set of economic and political structures and it a process which derives from the changing character of the goods and assets that comprise the base of the international political economy. This the author refers to as the increase structural differentiation of those goods and assets. Kayser (2007) looked at how globalization has influenced domestic politics and suggested that it has disproportionately focused on questions of policy rather than politics. Who are the players of globalization? To answer this question, I hypothesize that member states are involved in the global fiscal policies debates. However, the International institutions are the major player in implementing and enforcing the agreed fiscal policies. Example, the International Monetary Funds or the (I.M.F.) is charged of global economy integration and to implement policies and, the World Trade Organizations or the (W.T.O.) is charged of implementing and regulating the international trade regulations and
References: Cerny, P.G, (1995). Globalization and the changing logic of collective action. International Organization, (49)4, pp. 595-625 Riddell, J.B., (1992). Things Fall Apart Again: Structural Adjustment Programmes in Sub-Saharan Africa. The Journal of Modern African Studies, (30) 1, pp.53-68. Doi:10.1017/S0022278X00007722 Kayser, M.A., (2007). How Domestic Is Domestic Politics? Globalization and Elections. Annual Review of Political Science, 10(1), p.341-362 Schoenholtz, A.I., (1987). The I.M.F. in Africa: Unnecessary and Undesirable Western Restraints on Development. The Journal of Modern African Studies, 25(03), p.403 Stone, R.W, (2008). The Scope of IMF Conditionality. International Organization. (62)4, pp. 589-620 Wade, R, H., (2003). What strategies are viable for developing countries today? The World Trade Organization and the shrinking of ‘development space’. Review of International Political Economy, (10)4 , pp. 621-644