1、INTERNATIONALPOLITICALECONOMYPERSPECTIVES ONGLOBAL POWERAND WEALTHFOURTH EDITIONJeffry A.FriedenHarvard UniversityDavid A.LakeUniversity of California, San DiegoLondon and New YorkFor Bedford/St. MartinsPolitical Science Editor: James R.HeadleySenior Editor, Publishing Services: Douglas BellProducti
2、on Supervisor: Joe FordProject Management: Stratford Publishing Services, Inc.Cover Design: Lucy KrikorianCover Photo: CORBIS/Stuart WestmorlandComposition: Stratford Publishing Services, Inc.Printing and Binding: Haddon Craftsman, an R.R.Donnelley HarvardUniversity; and the University of California
3、, San Diego (UCSD). In our ownresearch, we approach the study of international political economy from verydifferent perspectives. Yet we find that this set of readings accommodates ourindividual approaches to the subject matter while simultaneously covering themajor questions of the field.For this e
4、dition, Patricia Lindenboim and Michael Spence at Harvard and AngelaOMahony at UCSD provided valuable research and editorial assistance. LeslieS.Connor of Stratford Publishing Services prepared the manuscript for publication.We want to thank our respective spouses, Anabela Costa and Wendy K.Lake, fo
5、rtheir continuing encouragement.Jeffry A.FriedenDavid A.Lakeiv PrefacevCONTENTSPreface iiiAbout the Editors ixIntroduction: International Politics and International Economics 1I CONTENDING PERSPECTIVES ON INTERNATIONALPOLITICAL ECONOMY 171 State Power and the Structure of International Trade 19STEPH
6、EN D.KRASNER2 The Political Economy of the Smoot-Hawley Tariff 37BARRY EICHENGREEN3 Institutions and Economic Growth: A Historical Introduction 47DOUGLASS C.NORTH4 States, Firms, and Diplomacy 60SUSAN STRANGEII HISTORICAL PERSPECTIVES 695 The Rise of Free Trade in Western Europe 73CHARLES P.K INDLEB
7、ERGER6 International Trade, Domestic Coalitions, and Liberty:Comparative Responses to the Crisis of 18731896 90PETER ALEXIS GOUREVITCH7 International Investment and Colonial Control:A New Interpretation 109JEFFRY A.FRIEDEN8 British and American Hegemony Compared:Lessons for the Current Era of Declin
8、e 127DAVID A.LAKEIII PRODUCTION 1419 The Multinational Enterprise as an Economic Organization 145RICHARD E.CAVES10 Third World Governments and Multinational Corporations:Dynamics of Hosts Bargaining Power 156SHAH M.TARZI11 “A New Imperial System”? The Role of theMultinational Corporations Reconsider
9、ed 167DAVID FIELDHOUSE12 Strategic Trade and Investment Policies: Implicationsfor the Study of International Political Economy 180JEFFREY A.HART AND ASEEM PRAKASHIV MONEY AND FINANCE 19313 The Domestic Politics of International Monetary Order:The Gold Standard 199LAWRENCE BROZ14 Hegemonic Stability
10、Theories of theInternational Monetary System 220BARRY EICHENGREEN15 The Triad and the Unholy Trinity:Problems of International Monetary Cooperation 245BENJAMIN J.COHEN16 Exchange Rate Politics 257JEFFRY A.FRIEDEN17 EMU: Why and How It Might Happen 270CHARLES WYPLOSZvi Preface18 The Obsolescence of C
11、apital Controls?Economic Management in an Age of Global Markets 280JOHN B.GOODMAN AND LOUIS W.PAULYV TRADE 29919 Protectionist Trade Policies: A Survey of Theory,Evidence, and Rationale 303CLETUS C.COUGHLIN, K.ALEC CHRYSTAL, AND GEOFFREY E.WOOD20 Commerce and Coalitions: How Trade AffectsDomestic Po
12、litical Alignments 318RONALD ROGOWSKI21 The Political Economy of Trading States:Factor Specificity, Collective Action Problems,and Domestic Political Institutions 327JAMES E.ALT AND MICHAEL GILLIGAN22 Are Your Wages Set in Beijing? 343RICHARD B.FREEMAN23 The Political Economy of Nontariff Barriers:A
13、 Cross-national Analysis 353EDWARD D.MANSFIELD AND MARC L.BUSCH24 Explaining Business Support for Regional Trade Agreements 366RONALD W.COXVI ECONOMIES IN DEVELOPMENT AND TRANSITION 37725 International Development: Is It Possible? 383JOSEPH E.STIGLITZ AND LYN SQUIRE26 Development: The Market Is Not
14、Enough 392ROBIN BROAD, JOHN CAVANAGH, AND WALDEN BELLO27 Globalization and Inequality, Past and Present 405JEFFREY A.WILLIAMSON28 Inflation and Stabilization 417STEPHAN HAGGARDPreface viiVII CURRENT PROBLEMS IN INTERNATIONALPOLITICAL ECONOMY 43129 Environmental Protection and Free Trade:Are They Mut
15、ually Exclusive? 433ALISON BUTLER30 Globalization and the Changing Logic of Collective Action 446PHILIP G.CERNY31 Sense and Nonsense in the Globalization Debate 461DANI RODRIKINDEX 471 viii PrefaceixABOUT THE EDITORSJeffry A.Frieden (Ph.D., Columbia University) is professor of government atHarvard U
16、niversity. He specializes in the political economy of international monetaryand financial relations. His book publications include Debt, Development, andDemocracy: Modern Political Economy and Latin America, 19651985 (Princeton:Princeton University Press, 1991) and Banking on the World: The Politics
17、 ofAmerican International Finance (New York: Harper politics isthe set of institutions and rules by which social and economic interactions aregoverned. Political economy has a variety of meanings. For some, it refersprimarily to the study of the political basis of economic actions, the ways inwhich
18、government policies affect market operations. For others, the principalpreoccupation is the economic basis of political action, the ways in whicheconomic forces mold government policies. The two focuses are, in a sense,complementary, for politics and markets are in a constant state of mutualinteract
19、ion.Most markets are governed by certain fundamental laws that operate moreor less independently of the will of firms and individuals. Any shopkeeperknows that an attempt to raise the price of a readily available and standardizedproducta pencil, for exampleabove that charged by nearby and competings
20、hopkeepers will rapidly cause customers to stop buying pencils at the higherprice. Unless the shopkeeper wants to be left with piles of unsold pencils, heor she will have to bring the price back into line with “what the market willbear.” The shopkeeper will have learned a microcosmic lesson in whate
21、conomists call market-clearing equilibrium, the price at which the numberof goods supplied equals the number demandedthe point at which supplyand demand curves intersect.At the base of all modern economics is the general assertion that, within certain2 Introductioncarefully specified parameters, mar
22、kets operate in and of themselves to maintainbalance between supply and demand. Other things being equal, if the supply of agood increases far beyond the demand for it, the goods price will be driven downuntil demand rises to meet supply, supply falls to meet demand, and market-clearingequilibrium i
23、s restored. By the same token, if demand exceeds supply, the goodsprice will rise, thus causing demand to decline and supply to increase until thetwo are in balance.If the international and domestic economies functioned as perfectly competitivemarkets, they would be relatively easy to describe and c
24、omprehend. But suchmarkets are only highly stylized or abstract models, which are rarely reproducedin the real world. A variety of factors influence the workings of domestic andinternational markets in ways that a focus on perfectly competitive and unchangingmarket forces does not fully capture. Con
25、sumer tastes can changehow largeis the American market for spats or sarsaparilla today?as can the technologyneeded to make products more cheaply, or even to make entirely new goodsthat displace others (stick shifts for horsewhips, calculators for slide rules).Producers, sellers, or buyers of goods c
26、an band together to try to raise or lowerprices unilaterally, as the Organization of Petroleum Exporting Countries (OPEC)did with petroleum in 1974 and 1979. And governments can act, consciously orinadvertently, to alter patterns of consumption, supply, demand, prices, andvirtually all other economi
27、c variables.This last factthe impact of policy and politics on economic trendsis themost visible, and probably the most important, reason to look beyond market-based, purely economic explanations of social behavior. Indeed, many market-oriented economists are continually surprised by the ability of
28、governments or ofpowerful groups pressuring governments to contravene economic tendencies. WhenOPEC first raised oil prices in December 1973, some market-minded pundits, andeven a few naive economists, predicted that such naked manipulation of the forcesof supply and demand could last only a matter
29、of months. However, what hasemerged from the past thirty years experience with oil prices is the recognitionthat they are a function of both market forces and the ability of OPECs memberstates to organize concerted intervention in the oil market.Somewhat less dramatic are the everyday operations of
30、local and nationalgovernments, which affect prices, production, profits, wages, and almost everyother aspect of the economy. Wage, price, and rent controls; taxation; incentivesand subsidies; tariffs and other barriers to trade; and government spending allserve to mold modern economies and the funct
31、ioning of markets themselves. Whocould understand the suburbanization of the United States after World War IIwithout taking into account government tax incentives to home mortgage-holders,government-financed highway construction, and politically driven patterns of localeducational expenditures? How
32、many American (or Japanese or European) farmerswould be left if agricultural subsidies were eliminated? How many Americanswould have college educations were it not for public universities, governmentscholarships and publicly subsidized student loans, and tax exemptions for privateuniversities? Who c
33、ould explain the proliferation of nonprofit groups in the UnitedStates without knowing the tax incentives given to charitable donations?Introduction 3In these instances and many more, political pressure groups, politicians, andgovernment bureaucrats have at least as much effect on economic outcomes
34、as dothe laws of the marketplace. Social scientists, especially political scientists, havespent decades trying to understand how these political pressures interact to producegovernment policy. Many of the results provide as elegant and stylized a view ofpolitics as the economics profession has devel
35、oped of markets. As in economics,however, social science models of political behavior are little more than didacticdevices whose accuracy depends on a wide variety of unpredictable factors, includingunderlying economic trends. If an economist would be equally foolish to dismissthe possibilities of i
36、ntergovernmental producers cartels (such as OPEC) out ofhand, a political scientist would be foolish not to realize that the economic realitiesof modern international commodity markets ensure that successful producers cartelswill be few and far between.It is thus no surprise that political economy i
37、s far from new. Indeed, until acentury ago, virtually all thinkers concerned with understanding human societywrote about political economy. For individuals as diverse as Adam Smith, JohnStuart Mill, and Karl Marx, the economy was eminently political and politics wasobviously tied to economic phenome
38、na. Few scholars before 1900 would havetaken seriously any attempt to describe and analyze politics and economicsindependently of each other.Around the turn of the century, however, professional studies of economicsand politics became increasingly divorced from one another. Economic investigationbeg
39、an to focus on understanding more fully the operation of specific markets andtheir interaction; the development of new mathematical techniques permitted theformalization of, for example, laws of supply and demand. By the time of WorldWar I, an economics profession per se was in existence, and its at
40、tention wasfocused on understanding the operation of economic activities in and of themselves.At the same time, other scholars were looking increasingly at the political realmin isolation from the economy. The rise of modern representative politicalinstitutions, mass political parties, more politica
41、lly informed populations, and modernbureaucracies all seemed to justify the study of politics as an activity that had alogic of its own.With the exception of a few isolated individuals and an upsurge of interestduring the politically and economically troubled Depression years, the twentiethcentury s
42、aw an increasing separation of the study of economics from that of politics.Economists developed ever more elaborate and sophisticated models of howeconomies work, and similarly, political scientists spun out ever more complextheories of political development and activity.The resurgence of political
43、 economy after 1970 had two, interrelated sources.The first was dissatisfaction among academics with the gap between abstract modelsof political and economic behavior, on the one hand, and the actual behavior ofpolities and economies, on the other. Theory had become more ethereal and seemedless real
44、istic. Many scholars therefore questioned the intellectual justificationsfor a strict analytic division between politics and economics. Second, as the stabilityand prosperity of the first twenty-five postwar years started to disintegrate in theearly 1970s, economic issues became politicized while po
45、litical systems became4 Introductionincreasingly preoccupied with economic affairs. In August 1971, President RichardNixon ended the gold-dollar standard, which had formed the basis for postwarmonetary relations; two and a half years later, OPEC, a previously little-knowngroup, succeeded in substant
46、ially raising the price of oil. In 1974 and 1975, theindustrial nations of Western Europe, North America, and Japan fell into the firstworldwide economic recession since the 1930s; unemployment and inflation weresoon widespread realities and explosive political issues. In the world arena, theunderde
47、veloped countriesmost of them recently independentburst onto centerstage as the Third World and demanded a fairer division of global wealth andpower. If in the 1950s and 1960s, economic growth was taken for granted andpolitics occupied itself with other matters, in the 1970s and 1980s, economicstagn
48、ation fed political strife while political conflict exacerbated economicuncertainty.For both intellectual and practical reasons, then, social scientists began seeking,once more, to understand how politics and economics interact in modern society.As interest in political economy grew, a series of fun
49、damental questions was posedand a broad variety of contending approaches arose.To be sure, todays political economists have not simply reproduced the studies ofearlier (and perhaps neglected) generations of scholars in the discipline. Theprofessionalization of both economics and political science led to major advances inboth fields, and scholars now understand both economic and political phenomena farbetter than they did a generation ago. It is on this improved basis that the new politicaleconomy has been constructed, albeit with some long-standing issues in mind.Just as i
