{"title":"Rebuilding the fortress? Europe in a changing world economy","authors":"S. Lavery","doi":"10.1080/09692290.2023.2211281","DOIUrl":"https://doi.org/10.1080/09692290.2023.2211281","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45794523","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Hybrid governance of joint ventures in transitional economies: the case of Guangzhou Automobile Group in China","authors":"Godfrey Yeung, Yi Liu","doi":"10.1080/09692290.2022.2062033","DOIUrl":"https://doi.org/10.1080/09692290.2022.2062033","url":null,"abstract":"Abstract The conventional approach to examining firm-to-firm governance is unable to disentangle the complexity of strategies and the interplay between different actors with their corresponding rules and routines embedded within an institutional environment where the state plays as a key equity partner in joint ventures (JVs) in transitional economies. This paper proposes an analytical framework of hybrid governance to explain how an alignment of mutual interests between three groups of heterogeneous multi-scalar actors (states, local and foreign firms) facilitates technological upgrading in JVs and the establishment of local production networks in transitional economies. The case of Guangzhou Automobile Group (GAC) demonstrates how the divergent interests of various actors do not necessarily constrain the development of the JV. Under such hybrid governance, whereby the boundaries between public and private property are blurred, GAC’s senior managers have been able to navigate and align the multifaceted agendas of various actors: from the profit-maximization demanded by foreign JV partners and industrial development commanded by the central state, to the development of the local capacity and capability for large-scale production and product development and setting up local automotive supply chains required by the local state. Three necessary conditions for technological upgrading in JVs are identified: a 50-50 equity structure, a latecomer in a big market, and the financial imperative of local firm actors.","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44582894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do geopolitical interests affect how financial markets react to IMF programs?","authors":"Lena Lee Andresen, J. Sturm","doi":"10.1080/09692290.2023.2200963","DOIUrl":"https://doi.org/10.1080/09692290.2023.2200963","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45007231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Adding ‘origination’ to diffusion theory: contrasting the roles of China and the EU in green finance","authors":"M. Larsen","doi":"10.1080/09692290.2023.2204532","DOIUrl":"https://doi.org/10.1080/09692290.2023.2204532","url":null,"abstract":"Abstract The diffusion of liberal economic ideas has been challenged by three global shifts: a bipolar tilt, nationalism, and climate change. One consequence is that policy norms are originating from new places and carry new content. To date, diffusion theory in International Political Economy (IPE) explains how liberal policy norms spread through ‘adaptation’ to local circumstances, but less why they diffuse from particular origins. The three global shifts make a focus on origins critical. I propose integrating Comparative Political Economy (CPE) into diffusion theory to capture the forces and conditions shaping policy norm ‘origination’. Analyzing the global proliferation of green finance policies, I show how China’s closed capital account and state-controlled financial system combined with a state-led and experimentation-prone governance system creates a top-down market-steering approach that makes China a pioneer of policy instruments. Second, I show how the EU’s global economic position, its independent central bank, and a negotiated and consultative governance system create a bottom-up market-facilitating approach that makes the EU a standard-setter of policy content. Adding origination creates a path forward for diffusion theory, exploring how certain political economy traits create roles in the diffusion process and how this impacts the diffusion mechanisms and adaptation processes emphasized today.","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44189949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Foundering on fallacies: theorizing the Eurozone’s self-harming mercantilism","authors":"P. Polyak","doi":"10.1080/09692290.2023.2195678","DOIUrl":"https://doi.org/10.1080/09692290.2023.2195678","url":null,"abstract":"Abstract The Eurozone’s export-oriented policy regime and pursuit of trade surpluses remains thoroughly puzzling. Rooted in overly strict fiscal policies, inequality and underinvestment; undermining growth and contributing to trade tensions– it defies economic self-interest. This paper develops an analytical framework to confront this puzzle. It argues that these policies are self-harming, but are nonetheless pursued, because of three fallacies that obscure the cost-benefit calculus attached to them. These fallacies are rooted in the empirical problem of observational equivalence: the same observed surplus can be driven by different underlying processes, and its net benefit will depend on our assumptions about these drivers. The first fallacy is mistaking external enablers for domestic competitiveness—interpreting export success to be linked to domestic reform, when it was largely explained by better links to faster growing trading partners. The second fallacy is mistaking weak imports for strong exports—interpreting surpluses as ‘winning’, even when they are not driven by superior exports but sluggish imports. The third fallacy is mismeasuring multinational firms’ contributions to national exports—interpreting profit shifting and assets stashed in low tax jurisdictions as export performance. Germany and Ireland, as paradigmatic ‘success cases of austerity’, are used to expand the argument.","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44468237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The demise of sovereign wealth funds","authors":"Leonardo Di Bonaventura Altuve","doi":"10.1080/09692290.2023.2190601","DOIUrl":"https://doi.org/10.1080/09692290.2023.2190601","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45890112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trading for survival: trade policy as a credible signal, alliance strategy, and public preferences in Taiwan","authors":"I. T. Chen","doi":"10.1080/09692290.2023.2190922","DOIUrl":"https://doi.org/10.1080/09692290.2023.2190922","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46992460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"East Asia and the politics of global finance: a developmental challenge to the neoliberal consensus?","authors":"Fabian Pape, Johannes Petry","doi":"10.1080/09692290.2023.2170445","DOIUrl":"https://doi.org/10.1080/09692290.2023.2170445","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42314951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"What about the dragon in the room? Incorporating China into international political economy (IPE) teaching","authors":"Mu-Jen Chen, Johannes Petry","doi":"10.1080/09692290.2023.2175711","DOIUrl":"https://doi.org/10.1080/09692290.2023.2175711","url":null,"abstract":"Abstract In recent years, IPE research has increasingly tried to better understand the nature and implications of China’s rise in a changing global landscape. However, in IPE teaching, China is often treated as an afterthought to a familiar transatlantic story. IPE students thereby are not adequately prepared to explain important developments in the 21st-century global economy, their underlying causes, mechanisms and particularities. This article provides a roadmap for rethinking the IPE curriculum. In an initial step, we suggest incorporating more comparative political economy into the teaching of IPE theories to create an analytical sensitivity for understanding (Chinese) state-market relationships that significantly diverge from Western-centric narratives. In a second step, these conceptual frameworks should be taken into account when teaching core IPE issue areas such as finance, development, production and trade, in which we argue China must be treated as an integral part rather than an outlier of IPE teaching. Such a revised curriculum, we argue, equips students with the conceptual tools and empirical knowledge for understanding diverging domestic institutional configurations of different economies, and thereby enables students to analyze, compare and critically evaluate fundamental assumptions and arguments about how the global economy functions in the context of a rising China.","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42088219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Back to Dakar: Decolonizing international political economy through dependency theory","authors":"Felipe Antunes de Oliveira, I. Kvangraven","doi":"10.1080/09692290.2023.2169322","DOIUrl":"https://doi.org/10.1080/09692290.2023.2169322","url":null,"abstract":"Abstract Whereas the field of International Political Economy (IPE) included a diversity of voices at its outset, histories of the field tend to marginalize certain contributions - particularly those from the Global South. The endeavor to decolonize IPE offers an opportunity to look back at IPE’s history, re-discover the marginalized voices, and imagine new possible futures. This article engages with contemporary calls to decolonize IPE and proposes an alternative route to do so by recovering dependency theory. We argue that dependency theory can be conceptualized as a peripheral IPE perspective that was committed to thinking from the Global South and to producing politically engaged scholarship just as the field was being formed. The article elaborates on the key tenets of dependency theory, contrasting it with mainstream IPE, and putting it in dialogue with decolonial approaches. To demonstrate the simultaneous non-Eurocentric, anti-colonial, and policy-oriented potential of dependency theory, we recover a foundational moment that disciplinary histories of IPE have forgotten: the 1972 Dakar conference, organized by Samir Amin, with the participation of leading Latin American and African dependency scholars.","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":null,"pages":null},"PeriodicalIF":4.3,"publicationDate":"2023-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43727323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}