Knowra International political economy International political economy International political economy studies how political forces shape the global economy and how economic relationships influence politics among states and other actors.
Mercantilism : An approach to economic policy that treats state power and national wealth as closely connected. It frames economic exchange as an instrument of state power.
International trade : The exchange of goods and services across national borders. Trade creates gains, dependencies, and disputes that governments negotiate.
Bretton Woods system : The postwar monetary order built around fixed but adjustable exchange rates and institutions including the IMF and World Bank. Its creation made the governance of international money a central political question.
World Trade Organization : An international organization that administers trade agreements and provides a forum for negotiations and disputes. It makes visible how rules and dispute procedures shape trade politics.
Realism (international relations) : A tradition in international relations that emphasizes states, power, and security in an anarchic international system. Its security-first focus differs from approaches that foreground economic structures and exchange.
Economic liberalism : A tradition favoring markets, private enterprise, and limited government intervention in economic life. It contrasts with approaches that prioritize state direction and national power.
Global value chain : The cross-border sequence of activities through which a product is designed, produced, and delivered. Its fragmented production shows how firms and states share influence across borders.
General Agreement on Tariffs and Trade : A multilateral agreement, established in 1947, that provided rules and negotiations for reducing trade barriers. Its negotiations helped establish trade policy as a durable site of international cooperation.
International Monetary Fund : An international organization that supports monetary cooperation and lends to countries facing balance-of-payments problems. Its lending conditions expose tensions between financial stability and domestic policy choices.
Liberal institutionalism : An international relations theory explaining cooperation through institutions, repeated interaction, and shared interests. It emphasizes institutional cooperation where power-centered accounts stress rivalry.
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