版权说明：本文档由用户提供并上传，收益归属内容提供方，若内容存在侵权，请进行举报或认领
文档简介
IntroductiontoInternationalPoliticalEconomyThethreekeyquestionswefocusonare:Howdocountriesandinternationalmarketsinteractwitheachother?Whyareregionsimportanteconomically?Whyhaspost-WWIIEastAsiandevelopmentbeensorapid?InternationalPoliticalEconomy(IPE)Ourfivegoalsare:UnderstandingofthebiggerpictureoftheInternationalPoliticalEconomyandglobalenvironment.GoodunderstandingofEastAsiandevelopmentmodels–Japan,China,Korea,butalsosmallereconomieslikeSingaporeandthePhilippines.AbilitytoanalyseandcompareacrossEastAsianeconomies.UnderstandtheplaceofEastAsiaintheglobaleconomy.BeabletomakesomepredictionsaboutthefutureofEastAsiaanditsplaceintheglobaleconomy.RequiredReadingsTherequiredreadingsforIPEare:Crane,G.andA.Amawi.“Theoriesofpoliticaleconomy,”inCrane&Amawi(eds)TheTheoreticalEvolutionofInternationalPoliticalEconomy,NewYork,OUP,1991.Ravenhill,J.“Thestudyofglobalpoliticaleconomy,”inRavenhill(ed)GlobalPoliticalEconomy,Oxford,OUP,2005,7-27.RequiredReadingsWorldBank.TheEastAsianMiracle:EconomicGrowthandPublicPolicy,NewYork:OUP,19931-26.T.Hamashita.China,EastAsiaandtheGlobalEconomy:RegionalandHistoricalPerspectives(Routledge,LondonandNewYork,2008),Chapter1,1-12.JosephEStiglitzandShahidYusuf(2001),RethinkingtheEastAsianMiracle:Aco-publicationoftheWorldBankandOxfordUniversityPress.IPECraneandRavenhillreadingsThesetwoauthorsfocusoninteractionsbetweeneconomicandpoliticalforcesatthegloballevel.Governmentsincreasinglyrepresenttheinterestsofbusinessandcorporationsateconomicandtradeforums,bothbilaterallyandmultilaterally.Powertomoney–weseethiswiththeriseofChinaandtherelativedeclineofJapan.RoleofinternationalandregionalregimesliketheWTO,WorldBankandtheIMF.WhatisIPE?WeneedtolinkEastAsiatotheInternationaleconomyandthereforeneedadefinitionofwhatconstitutesinternationalpoliticaleconomy.Politicaleconomyinvolveseconomicsandpolitics.Politicaleconomyexplainshowpoliticalpowershapeseconomicoutcomesandhoweconomicforcesconstrainpoliticalaction.IPEHamashitareadingsHamashita,aJapanesehistorianredefinedtheevolvingrelationshipswithintheEastAsianregionalsystemandtheworldeconomyfromthe16thcenturytothepresent.Heseesthingsinhistoricalcontext,ratherthaneconomic.HereconceptualisesthepositionofChinafirstinthecontextofanEastAsianregionalorderandsubsequentlywithintheframeworkofawiderEuro-American-Asiantradeandfinancialorder.IPE-EastAsianEconomicRegionTypically,EastAsiaisdefinedascomprisingChina
,ChineseTaiwan,JapanandKorea(DPRKandROK)andHongKongChina.WorldBankreading“EastAsianMiracle” definesitby:UniquenessofdevelopmentsuccessandgeographyCommondevelopmentcharacteristicsPoliticallimitstoregionalidentityChangingroleinglobaleconomyChangingscopeoftheregionIPE-IdeaofRegionsInter-countrysystem(relationsbetweencountrieswithinageographicregion)dividedintoregionsEastAsia,MiddleEast,EuropeCountriesactivelycreateregions.
RegiondefinedbywhoisinandwhoisoutCommoncharacteristicsthatuniteregionsanddifferentiatethemfromothers.WhatisIPE?Asnoted,IPEisanamalgamofpoliticsandeconomics–weinvestigatetheirconnection.IPEisalsotakenupininternationaltrade,finance,developmentandinvestment.TheriseandfallofmercantilismwasanearlierexampleofIPE.WhatisIPE?Mercantilism,anearliermanifestationofIPEwasaboutcountriesmaximisingtheirholdingsofgoldandsilver–hence,exportswereregardedasbeinggood;importsnot.Mercantilismservedfordecadesasawayoflookingattheworldandasaguideforeconomicandtradepolicy.WhatisIPE?IPEunderwentaseismicshiftinthe18thcentutywiththeascendancyofAdamSmith’sthoughts.Whoarguedsuccessfullythatfreetradeandfreemarketswerethekeystothe‘wealthofnations’NOTtheamountofgoldandsilverheldintreasurycoffers.Thisfreetradethinkinghasheldswaysincethe18thcenturythoughmanycountriesstillbasepolicyonprotectionismandtheaccumulationofpreciousmetals.IPETodaythehallmarksofIPEareindividualism,freetrade,freemarkets,exportsandimports–insumliberalism,whichasnotedearlier,underpinsthistopic.IPEtodaymostly(despiteTrumpandBrexit)contemplatestherelationshipbetweeneconomicsandpoliticsina‘laissezfaire’terms.StiglitzandYusufLet’sseehowStiglitzseesIPEinthelate1990s,whosefocusisonEastAsia.Theworldeconomyremainedonatightropeinthelate1990s,withtheUSandsomeEuropeaneconomiesprovidingmuchmomentumforgrowth.TheUSabsorbedmuchofthecapitalthatfledEastAsiafollowingtheAsianFinancialCrisis(AFC)in1997.Byearly1999,theworstoftheAFCwasbehind.EventhoughtheJapaneseremainedweak,postAFT,otherEastAsianeconomiesbegantoreboundonthestrengthofexportdemandfromtheUSandWesternEurope,especiallyforelectronicgoods.StiglitzandYusufThepaceofrecoverypostAFCquickenedinthelatterpartof1999becauseofincreasingintra-regionaltrade,higheroilpricesandtheappreciationoftheJapaneseYen.By2000,thedoubtsvoicedaboutthefutureofeconomicdevelopmentinEastAsiahadlargelydissipated,withmanyeconomiesintheregiongrowingbymorethan6%.Despitethisapparentrecovery,StiglitzandYusufthinkthereisaneedto‘rethink’theEastAsianmiraclesincetheAFCexposedmanyinherentweaknesses.StiglitzandYusufRecallonceagainthemainstrandsofEastAsiansuccess:Stablebusinessmacro-environment.Sensibleandprudentfiscalpolicies.Exchangeratepoliciestounderpinexportcompetitiveness(readlow!).Financialdevelopmentandprogressiveliberalisationofsectorstomaximisesavings.Minimisationofpricedistortions.Actionstospreadprimaryandsecondaryschooling.AndCreationofahierarchyofskillstosupportexportdevelopment.Alsotheneedforabureaucracytoimplementdesignsofa‘strongstate’drawingontheexperiencesofSingapore,ChineseTaiwanandKorea.StiglitzandYusufAnotherstrandexplainingrapiddevelopmentinEastAsiawasgovernments’activistpoliciestoquickenthepaceofindustrialisationandexports.Thereislittledoubtregardingtheappropriatenessofsoundmacroeconomicandsectoralpolicies.Howtheyareexecuted,however,isanothermatter.Activistindustrialpolicyisanothermatter.Subsidisingindustryforlengthyperiodsisquestionableaslongtermpolicy.TheefficacyofexportsasanengineofproductivityandgrowthinEastAsiaisalsoquestioned.StiglitzandYusufSomehavecometotheviewthatinvestmentwasabiggerdriverthanexports.Theapproachtogovernancealsodeservesafreshlook.Governanceisabouthowinstitutions,organisationsandprocessesmediaterelationshipsbetweenprincipalsandagents.Itbecameclearpost-AFCthatrelationship-basedgovernancestructuresandfamilyownershipmustadaptascountriesmultiplytheirlinkswiththeglobaleconomy.StiglitzandYusufFinallyawordonthegrowingintegrationoftheEastAsianregion–andthatoftheinternationaleconomytoo.Thecontiguousness(connectedness)oftheAFCrevealedjusthowfarintegrationhadprogressedandthedegreetowhichforeigninvestorsperceivedEastAsiaasanentitysharingcommonattributes–adecadeearlierthatwasnotthecase,whenindividualcountriescouldpursuemacroeconomicandtradepoliciesmoreorlessindependentlyoftheirneighbours.Nowtheymustrecognisesomedegreeofinterdependenceandcoordinatetheiractions.StiglitzandYusufHowever,asStiglitznotes,wemustnotlosesightofthecounterfactual:CouldEastAsiawithoutindustrialpolicy(governmentintervention)havedonebetterthanitactuallydid?Theexperienceofthe1990sandtheintensedebateonthesourcesofEastAsiangrowthhighlightednotonlytheregion’scontinueddependenceonfactorinputsbutalsotheurgencyofbuildingcapacitytoparticipatemoreactivelyintechnologicaladvance.StiglitzandYusufGreateropennessandinternationalintegrationhaveMANYadvantagesbuttheyalsoincreaserisks.Tobettermanagetheserisks,countrieswillneedtoacton3fronts:Domestic.RegionalandInternational.Coordinationofpolicygloballyiskey.HamashitaLet’snowturntohowHamashitaseesIPE,whosefocusisprincipallyonEastAsia.Heseestheworldasbeingdividedinto‘regions’–Europe,EastAsia,SouthAsia,MiddleEast.ThehistoryofmodernAsia,heconsiders,needstobere-conceptualised,notintermsof‘stagesofdevelopment’positedinWesterntheory,butintermsofcomplexinter-relationshipswithintheregionitself.HamashitaHamashitahypothesisedthatAsianhistorycanbebetterunderstoodasthehistoryofaunifiedsystemcharacterisedbyregion-widetribute-traderelations,withChinaatthecentre.Thistributetradesystem,accordingtoHamishita,isthepremiseofmodernAsiaanditexplainsmuchofcontemporaryAsianeconomicandtraderelationsthatwewitnesstoday.Thistributeframeworkofanalysiscanbesummarisedintofourkeyissues.HamashitaChineseidealsoforderandhowthisisreflectedinitsinstitutionsandculture;Historicalcharacterofthe‘tribute’systemanditsassociatedrelationships;Relationshipbetween‘East’and‘West’asshapedbythetributarysystem.ThemodernhistoryofChinaandJapanfromanAsianperspective.HamashitaIndeedtheunderstandingoftributetraderelationsbearsmajorimplicationsforthehistoryofEast-WestrelationsandIPEingeneral.Eventoday.WitnesshowUSPresidentTrump‘rewards’countriesthatfallintolinewithUSpolicybyprovidingthemwithtradebenefits.IPEWenowturntotheWorldBank.TheEastAsianMiracle:EconomicGrowthandPublicPolicy,sowecanbetterunderstandtherelationshipbetweeneconomicsandpolitics.WeallknowthatEastAsia–especiallythe4tigersinthe1980sand1990s–hadhighandsustainablegrowthrates.IPESowhatfactorscausedthesuccessinEastAsia?Privatedomesticinvestmentandrapidlygrowinghumancapitalwerethekeydrivers.Highsavingsledtohighlevelsofinvestment.Rapidproductivitygrowthinagricultureatatimewhenpeopleleftfarms.Adeclineinpopulationgrowth–sotheratioofcapitaltolabourincreasedmarkedly.IPE–EastAsiaAlsoaddingtosuccesswasefficientandcleanpublicadministration,especiallyinplaceslikeSingapore.Aswassounddevelopmentpolicy.Alsosoundmacroeconomicmanagement.Pricedistortionsandsubsidieswereminimised;marketsfunctionedfreer.IPEButtheydon’ttellthefullstory.Governm
温馨提示
- 1. 本站所有资源如无特殊说明，都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等，如果需要附件，请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸，网页内容里面会有图纸预览，若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间，仅对用户上传内容的表现方式做保护处理，对用户上传分享的文档内容本身不做任何修改或编辑，并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容，请与我们联系，我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
评论
0/150
提交评论