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| Preface | |
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| Acronyms and Abbreviations | |
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| Introduction and Overview | |
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| Introduction | |
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| What is International Political Economy? | |
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| The IPE Theoretical Perspectives | |
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| Purposes and Themes of This Book | |
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| Globalization | |
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| North-North Relations | |
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| North-South Relations | |
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| Focus of this Book | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Managing the Global Economy Since World War II: The Institutional Framework | |
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| Global Economic Relations Before World War II | |
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| The Mercantilist Period | |
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| The Industrial Revolution and British Hegemony | |
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| The Decline of British Hegemony and World War I | |
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| The Interwar Period | |
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| The Institutional Framework Before World War II | |
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| The Functions of the IMF, World Bank, and GATT | |
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| The KIEOs and the United Nations | |
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| The Postwar Economic Institutions and Changing North-South Relations | |
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| The IMF, World Bank, and WTO | |
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| The OECD | |
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| The G10,G5,G7,G8, and G20 | |
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| Postwar Economic Institutions and the South | |
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| Postwar Economic Institutions and the Centrally Planned Economies | |
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| Nonstate Actors | |
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| The 2008 Global Financial Crisis: A Turning Point? | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Theoretical Perspectives | |
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| The Realist Perspective | |
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| Basic Tenets of the Realist Perspective | |
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| The Role of the Individual, the State, and Societal Groups | |
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| The Nature and Purpose of International Economic Relations | |
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| The Relationship Between Politics and Economics | |
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| The Causes and Effects of Globalization | |
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| The Mercantilists | |
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| Realism and the Industrial Revolution | |
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| Realism in the Interwar Period | |
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| Realism After World War II | |
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| The Revival of Realist IPE | |
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| Hegemonic Stability Theory and U.S. Hegemony | |
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| What Is Hegemony? | |
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| What Are the Strategies and Motives of Hegemonic States? | |
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| Is Hegemony Necessary and/or Sufficient to Produce an Open, Stable Economic System? | |
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| What Is the Status of U.S. Hegemony? | |
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| Realism and North-South Relations | |
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| Critique of the Realist Perspective | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| The Liberal Perspective | |
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| Basic Tenets of the Liberal Perspective | |
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| The Role of the Individual, the State, and Societal Groups | |
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| The Nature and Purpose of International Economic Relations | |
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| The Relationship Between Politics and Economics | |
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| The Causes and Effects of Globalization | |
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| Orthodox Liberalism | |
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| The Influence of John Maynard Keynes | |
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| Liberalism in the Postwar Period | |
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| A Return to Orthodox Liberalism | |
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| Liberalism and Institutions | |
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| Interdependence Theory | |
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| The Liberal Approach to Cooperation | |
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| Regime Theory | |
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| Liberalism, Global Governance, and Regimes | |
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| Liberalism and Domestic-International Interactions | |
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| Liberalism and North-South Relations | |
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| Orthodox Liberals and North-South Relations | |
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| Interventionist Liberals and North-South Relations | |
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| Critique of the Liberal Perspective | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Critical Perspectives | |
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| Basic Tenets of Historical Materialism | |
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| The Role of the Individual, the State, and Societal Groups | |
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| The Nature and Purpose of International Economic Relations | |
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| The Relationship Between Politics and Economics | |
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| The Causes and Effects of Globalization | |
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| Early Forms of Historical Materialism | |
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| Karl Marx and IPE | |
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| Marxist Studies of Imperialism | |
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| Dependency Theory | |
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| Whither the Historical Materialist Perspective? | |
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| World-Systems Theory | |
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| Neo-Gramscian Analysis | |
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| Constructivism | |
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| Feminism | |
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| Environmentalism | |
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| Critique of the Critical Perspectives | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| The Issue Areas | |
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| International Monetary Relations | |
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| The Balance of Payments | |
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| Government Response to a Balance-of-Payments Deficit | |
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| Adjustment Measures | |
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| Financing | |
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| Adjustment, Financing, and the Theoretical Perspectives | |
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| The Functions and Valuation of Money | |
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| International Monetary Relations Before Bretton Woods | |
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| The Classical Gold Standard (1870s to 1914) | |
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| The Interwar Period (1918-1944) | |
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| The Formation of the Bretton Woods Monetary Regime | |
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| The International Monetary Fund | |
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| The Functioning of the Bretton Woods Monetary Regime | |
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| The Central Role of the U.S. Dollar | |
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| A Shift Toward Multilateralism | |
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| The Demise of the Bretton Woods Monetary Regime | |
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| The Regime of Floating (or Flexible) Exchange Rates | |
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| The Plaza-Louvre Accords | |
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| Alternatives to the Current Monetary Regime | |
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| European Monetary Relations | |
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| What Is the Future of the U.S. Dollar as the Key Currency? | |
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| The Dollar Versus the Euro | |
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| Countries with Large Foreign Reserves and the Future of the Dollar | |
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| Sovereign Wealth Funds | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Global Trade Relations | |
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| Trade Theory | |
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| Global Trade Relations Before World War II | |
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| GATT and the Postwar Global Trade Regime | |
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| Principles of the Global Trade Regime | |
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| Trade Liberalization | |
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| Nondiscrimination | |
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| Reciprocity | |
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| Safeguards | |
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| Development | |
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| Formation of the WTO | |
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| The WTO and the Global Trade Regime | |
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| The South and Global Trade Issues | |
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| 1940s to Early 1960s: Limited LDC Involvement | |
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| 1960s to Early 1970s: Growing Pressures for Special Treatment | |
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| 1970s to 1980: Increased North-South Confrontation | |
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| 1980s to 1995: More LDC Participation in GATT | |
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| 1995 to the Present: LDC Disillusionment with the Uruguay Round and Demands in the Doha Round | |
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| The Transition Economies and Global Trade Relations | |
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| Eastern Europe and the GATT/WTO | |
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| China | |
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| Russia | |
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| Civil Society and Global Trade Relations | |
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| Trade and the Environment | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Regionalism and the Global Trade Regime | |
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| Regionalism and the IPE Theoretical Perspectives | |
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| Regionalism and Globalization | |
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| A Historical Overview of RTAs | |
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| The First Wave of Regionalism | |
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| The Second Wave of Regionalism | |
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| Explanations for the Rise of Regional Integration | |
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| Realist Explanations | |
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| Liberal Explanations | |
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| Historical Materialist Explanations | |
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| The GATT/WTO and RTAs | |
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| Trade Diversion | |
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| Trade Creation | |
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| GATT Article 24 and RTAs | |
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| The Effectiveness of GATT Article 24 | |
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| Special Treatment for LDCs | |
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| The European Union | |
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| The Deepening of European Integration | |
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| The Widening of European Integration | |
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| Theoretical Perspectives and the EU | |
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| The North American Free Trade Agreement | |
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| The Formation of NAFTA | |
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| NAFTA as a Free Trade Agreement | |
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| The IPE Theoretical Perspectives and NAFTA | |
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| Mercosur | |
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| East Asian Regionalism | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Multinational Corporations and Global Production | |
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| Definitions and Terminology | |
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| Why Do Firms Become MNCs? | |
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| The Historical Development of FDI | |
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| The Pre-World War II Period | |
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| The Mid-1940s to Mid-1980s | |
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| The 1980s to the Present | |
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| MNC-Host Country Relations: Determinants and Effects of FDI | |
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| Host Country Policies Toward MNCs | |
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| The South | |
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| The North | |
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| MNC-Home Country Relations | |
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| Home Country Policies Toward MNCs | |
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| The Effects of MNCs on Labor Groups in Home Countries | |
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| Competitiveness and Home Country-MNC Relations | |
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| A Regime for FDI: What Is to Be Regulated? | |
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| Bilateral Investment Treaties | |
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| United Nations | |
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| Regional Approaches: The EU and NAFTA | |
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| The GATT/WTO to the OECD and Back to the WTO | |
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| Private Actors | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| International Development | |
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| IPE Perspectives and North-South Relations | |
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| Official Development Assistance | |
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| The World Bank Group | |
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| LDC Development Strategies | |
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| Import Substitution Industrialization | |
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| Socialist Development Strategies | |
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| Export-Led Growth | |
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| IPE Perspectives and the East Asian Experience | |
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| The Asian Financial Crisis | |
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| The Revival of Orthodox Liberalism | |
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| Structural Adjustment and Theoretical Perspectives | |
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| Structural Adjustment and Questions About Orthodox Liberalism | |
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| Structural Adjustment and Sub-Saharan Africa | |
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| Structural Adjustment and LDC Women | |
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| Another Shift in Development Strategy? | |
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| The Late 1980s to 1994 | |
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| 1995 to the Present | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Foreign Debt and Financial Crises | |
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| What Is a Debt Crisis? | |
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| The Origins of the 1980s Debt Crisis | |
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| Unexpected Changes in the Global Economy | |
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| Irresponsible Behavior of Lenders | |
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| Irresponsible Behavior of Borrowers | |
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| The South's Dependence on the North | |
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| The Foreign Debt Regime | |
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| The IMF, the World Bank, and Transition Economies | |
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| The Paris and London Clubs | |
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| Strategies to Deal with the 1980s Debt Crisis | |
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| Emergency Measures and Involuntary Lending: 1982-1985 | |
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| The Baker Plan: 1986-1988 | |
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| The Brady Plan: 1989-1997 | |
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| Initiatives for the Poorest LDCs | |
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| Assessing the Effectiveness of the Debt Strategies | |
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| Transition Economies and Foreign Debt | |
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| The IMF, the World Bank, and the Debt Crisis | |
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| The 1990s Asian Financial Crisis | |
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| The 2008 Global Financial Crisis | |
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| Considering IPE Theory and Practice | |
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| Questions | |
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| Key Terms | |
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| Further Reading | |
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| Notes | |
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| Concluding Comments | |
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| Current Trends in the Global Political Economy | |
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| Globalization | |
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| Globalization and Triadization | |
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| Globalization and the State | |
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| Globalization, Inequality, and Poverty | |
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| Globalization and Democracy | |
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| Globalization and Civil Society | |
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| Globalization and �Newer Issues�: The Environment, International Migration, and Illegal Activity | |
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| North-North Relations | |
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| The Current State of U.S. Hegemony | |
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| Is There a Candidate to Replace the United States as Global Hegemon? | |
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| The Role of International Institutions | |
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| North-South Relations | |
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| Changing Concepts of Development | |
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| Is There a �Best� Development Strategy? | |
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| A Final Word on IPE Theory and Practice | |
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| Notes | |
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| Glossary | |
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| Index | |