The changes associated with the globalising international economy have had significant effects on the nature and functions of national states. Rather than being in a process of decline in both relevance and effectiveness, the state remains central to the study of IPE and to processes of transformation at the national, regional and global levels. The process of globalisation has created a situat...

The Asia Pacific region, and especially East Asia, has experienced rapid economic integration without the ‘hard politics’ of legally binding economic and political treaties, unlike Europe where integration has been institution-led. The ‘soft politics’ and market-led integration in East Asia set against a background of political tensions and rivalries in key relationships in the region. The pape...

Ben Fine and Dimitris Milonakis have done political economy a great service by drawing attention to the insights lost in the twists, turns and reductions in the transition from political economy to economics. These two volumes constitute a solid foundation upon which a new generation can build a political economy for the future. This review presses some of their meta-theoretical arguments a lit...

sanctions as a tool to pressure and coercion in promotion of foreign policy goals in mind and its literature has been introduced as one of the most arguable and non-definitive literature on international relations. according to the available space on domestic and international sanctions against iran, this study has tried some of these new approaches and perspectives in relation to the efficienc...

In this paper we study dollarization as a commitment device that the Central Bank could use to avoid getting involved in an undesirable banking-sector bailout. We show how a political process could induce an equilibrium outcome that differs from the one that a benevolent Central Bank would want to implement. Dollarization then could be used to restore the economy to the benevolent outcome. In s...

Timo Henckel is a Fellow in international and development economics at the Crawford School of Economics and Government, The Australian National University Vanuatu’s economy paints a picture of contradictions: it has continued on the recent growth path with low inflation, government budget surpluses, and increased capital inflows. Yet successful management of the economy has not translated into ...

The paper applies a transaction-focused institutional analysis to compare the value of political capital in different institutional domains of China’s market economy. Our results show that the value of political capital is associated with institutional domains of the economy in which agents can use political connections to secure advantages. Political capital is most fungible in institutional d...

Technology has changed the underlying structure of the world economy, increasing the cost of autonomy and making devolution unlikely. On the other hand, the increasing number of players, a multipolar world system and the rise of non-liberal powers make multilateral agreements increasingly problematic. Thus, there is an asymmetry between the MNC’s market environment (an integrated international ...