Governing the Global Economy: Politics, Institutions and Economic Development, 1st Edition (Paperback) book cover

Governing the Global Economy

Politics, Institutions and Economic Development, 1st Edition

Edited by Dag Harald Claes, Carl Henrik Knutsen


362 pages | 21 B/W Illus.

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Governing the Global Economy explores the dynamic interaction between politics and economics, between states and markets and between international and domestic politics. The contributors study how the governance of the global economy is shaped by interaction between international institutions, domestic politics and multinational enterprises, from a wide range of theoretical perspectives and methods.

Presenting a fresh approach to the study of international political economy, this volume covers:

  • the systemic characteristics of the liberal world order,
  • the role of international institutions,
  • domestic economic politics and policies
  • the strategies and behaviour of multinational enterprises.

The volume also includes topical discussion of the challenges to the global economy from the recent financial crisis and analysis of economic politics, in particular the regions of Africa and Europe as well as the countries of Japan and South Korea.

With contributions from prominent scholars in political science, economics and business studies, who have all contributed greatly to advancing the study of political economy over the last decade, Governing the Global Economy aims to bridge the gap between undergraduate textbooks and advanced theory. It is essential reading for all students and scholars of international political economy and globalization.

Table of Contents

1. The Global Political Economy: International Institutions, States and MNEs Dag Harald Claes and Carl Henrik Knutsen 2. The Political Economy of an Integrated Europe: Toward an Analytic Eclecticism Peter J. Katzenstein and Rudra Sil Part 1: International Institutions and Global Economic Governance 3. The West and the Rest in Global Economic Institutions Robert O. Keohane and Arild Underdal 4. Free Markets for All: The Difficulties of Maintaining a Stable Liberal World Economy Georg Sørensen 5. A New Role for the OECD? The "Enhanced Engagement" Strategy towards Emerging Economies Morten Ougaard 6. Paved with Good Intentions: Global Financial Integration, the Eurozone, and the Hellish Road to the Fabled Gold Standard Geoffrey R.D. Underhill 7. Reining in the Market: Global Governance and the Regulation of OTC Derivates Eric Helleiner Part 1: Domestic institutions and policies in the Globalized Economy 8. The African Neopatrimonial State as a Global Prototype Daniel C. Bach 9. Are Good Policies Good Politics? Kalle Moene 10. Democracy and Economic Growth: A Changing Relationship? Carl Henrik Knutsen 11. FDI-Assisted Industrial Development and EU Enlargement Rajneesh Narula and Christian Bellak 12. Japan: Dealing with Global Forces – Multilateralism, Regionalism, Bilateralism T.J. Pempel 13. Industrial Policy in an Integrated World Economy: The South Korean Paradox Chung-in Moon and Dae-yeob Yoon Part 3: Corporate Strategies in the Globalized Economy 14. Crisis… what Crisis? Exploring Multinational Enterprises’ Responsiveness to the Financial Crisis Rob van Tulder 15. Non-Triad Multinational Enterprises and Global Economic Institutions Andreas Nölke 16. States and Firms in the International Oil Market Dag Harald

About the Editors

Dag Harald Claes is Professor in the Department of Political Science, University of Oslo, Norway.

Carl Henrik Knutsen is a PhD Fellow in the Department of Political Science, University of Oslo, Norway.

About the Series

Routledge Studies in Globalisation

The Routledge Studies in Globalisation series is edited by André Broome (University of Warwick, UK) and Leonard Seabrooke (Copenhagen Business School, Denmark).

Based in the Centre for the Study of Globalisation and Regionalisation at the University of Warwick (, the Routledge Studies in Globalisation series examines key questions related to the theory and practice of globalisation and regionalisation. The Series has an interdisciplinary focus and publishes research that is methodologically and theoretically rigorous and which advances knowledge about the changing dynamics of globalisation and regionalisation, global governance and global order, and global civil society.

Associate Editors:

Shaun Breslin, University of Warwick, UK

Sophie Harman, Queen Mary University of London, UK

Richard Higgott, University of Warwick, UK

Manuela Moschella, Scuola Normale Superiore, Italy

Helen Nesadurai, Monash University, Malaysia

Andreas Nölke, Goethe University Frankfurt, Germany

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
POLITICAL SCIENCE / International Relations / General
POLITICAL SCIENCE / Public Policy / Economic Policy