Towards a New Political Economy of Development: States and Regions in the Post-Neoliberal World PDF
Preview Towards a New Political Economy of Development: States and Regions in the Post-Neoliberal World
International Political Economy Series Series Editor: Timothy M. Shaw, Visiting Professor, University of Massachusetts Boston, USA and Emeritus Professor, University of London, UK The global political economy is in flux as a series of cumulative crises impacts its organization and governance. The IPE series has tracked its development in both analysis and structure over the last three decades. It has always had a concentra- tion on the global South. Now the South increasingly challenges the North as the centre of development, also reflected in a growing number of submissions and publications on indebted Eurozone economies in Southern Europe. An indispensable resource for scholars and researchers, the series examines a variety of capitalisms and connections by focusing on emerging economies, companies and sectors, debates and policies. It informs diverse policy communi- ties as the established trans-Atlantic North declines and ‘the rest’, especially the BRICS, rise. Titles include: Yildiz Atasoy (editor) GLOBAL ECONOMIC CRISIS AND THE POLITICS OF DIVERSITY Eirikur Bergmann ICELAND AND THE INTERNATIONAL FINANCIAL CRISIS Boom, Bust and Recovery Hany Besada and Shannon Kindornay (editors) MULTILATERAL DEVELOPMENT COOPERATION IN A CHANGING GLOBAL ORDER Matthew Louis Bishop THE POLITICAL ECONOMY OF CARIBBEAN DEVELOPMENT Michael Breen THE POLITICS OF IMF LENDING Rachel K. Brickner (editor) MIGRATION, GLOBALIZATION AND THE STATE Benedicte Bull, Fulvio Castellacci and Yuri Kasahara BUSINESS GROUPS AND TRANSNATIONAL CAPITALISM IN CENTRAL AMERICA Economic and Political Strategies Bonnie K. Campbell (editor) MODES OF GOVERNANCE AND REVENUE FLOWS IN AFRICAN MINING Lourdes Casanova and Julian Kassum THE POLITICAL ECONOMY OF AN EMERGING GLOBAL POWER In Search of the Brazil Dream Bhumitra Chakma SOUTH ASIA IN TRANSITION Democracy, Political Economy and Security Greig Charnock, Thomas Purcell and Ramon Ribera-Fumaz THE LIMITS TO CAPITAL IN SPAIN Crisis and Revolt in the European South Daniel Daianu, Carlo D’Adda, Giorgio Basevi and Rajeesh Kumar (editors) THE EUROZONE CRISIS AND THE FUTURE OF EUROPE The Political Economy of Further Integration and Governance Juanita Elias and Samanthi Gunawardana (editors) THE GLOBAL POLITICAL ECONOMY OF THE HOUSEHOLD IN ASIA Felipe Amin Filomeno MONSANTO AND INTELLECTUAL PROPERTY IN SOUTH AMERICA Vassilis K. Fouskas and Constantine Dimoulas GREECE, FINANCIALIZATION AND THE EU The Political Economy of Debt and Destruction Martin Geiger and Antoine Pécoud (editors) DISCIPLINING THE TRANSNATIONAL MOBILITY OF PEOPLE Toni Haastrup and Yong-Soo Eun (editors) REGIONALISING GLOBAL CRISES The Financial Crisis and New Frontiers in Regional Governance Kobena T. Hanson, Cristina D’Alessandro and Francis Owusu (editors) MANAGING AFRICA’S NATURAL RESOURCES Capacities for Development Roshen Hendrickson PROMOTING U.S. INVESTMENT IN SUB-SAHARAN AFRICA Tony Heron PATHWAYS FROM PREFERENTIAL TRADE The Politics of Trade Adjustment in Africa, the Caribbean and Pacific David J. Hornsby RISK REGULATION, SCIENCE AND INTERESTS IN TRANSATLANTIC TRADE CONFLICTS Xiaoming Huang (editor) MODERN ECONOMIC DEVELOPMENT IN JAPAN AND CHINA Developmentalism, Capitalism and the World Economic System Yang Jiang CHINA’S POLICYMAKING FOR REGIONAL ECONOMIC COOPERATION Caroline Kuzemko THE ENERGY-SECURITY CLIMATE NEXUS Institutional Change in Britain and Beyond Laura Carsten Mahrenbach THE TRADE POLICY OF EMERGING POWERS Strategic Choices of Brazil and India Andreas Nölke (editor) MULTINATIONAL CORPORATIONS FROM EMERGING MARKETS State Capitalism 3.0 Gopinath Pillai (editor) THE POLITICAL ECONOMY OF SOUTH ASIAN DIASPORA Patterns of Socio-Economic Influence Gabriel Siles-Brügge CONSTRUCTING EUROPEAN UNION TRADE POLICY A Global Idea of Europe Jewellord Singh and France Bourgouin (editors) RESOURCE GOVERNANCE AND DEVELOPMENTAL STATES IN THE GLOBAL SOUTH Critical International Political Economy Perspectives Gerard Strange TOWARDS A NEW POLITICAL ECONOMY OF DEVELOPMENT States and Regions in the Post-Neoliberal World Leila Simona Talani THE ARAB SPRING IN THE GLOBAL POLITICAL ECONOMY Leila Simona Talani, Alexander Clarkson and Ramon Pachedo Pardo (editors) DIRTY CITIES Towards a Political Economy of the Underground in Global Cities Monique Taylor THE CHINESE STATE, OIL AND ENERGY SECURITY Tan Tai Yong and Md Mizanur Rahman (editors) DIASPORA ENGAGEMENT AND DEVELOPMENT IN SOUTH ASIA Karen E. Young THE POLITICAL ECONOMY OF ENERGY, FINANCE AND SECURITY IN THE UNITED ARAB EMIRATES Between the Majilis and the Market International Political Economy Series Series Standing Order ISBN 978–0–333–71708–0 hardcover Series Standing Order ISBN 978–0–333–71110–1 paperback You can receive future titles in this series as they are published by placing a stand- ing order. Please contact your bookseller or, in case of diffi culty, write to us at the address below with your name and address, the title of the series and one of the ISBNs quoted above. Customer Services Department, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire RG21 6XS, England Towards a New Political Economy of Development States and Regions in the Post-Neoliberal World Gerard Strange Reader, School of Social and Political Sciences, University of Lincoln, UK; Adjunct Professor, Department of Political Science and International Relations, University of Western Australia © Gerard Strange 2014 Softcover reprint of the hardcover 1st edition 2014 978-1-137-27736-7 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2014 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-67047-5 ISBN 978-1-137-27737-4 (eBook) DOI 10.1057/9781137277374 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. Typeset by MPS Limited, Chennai, India. Transferred to Digital Printing in 2015 Contents Acknowledgements ix List of Abbreviations and Acronyms x Part I Globalisation, the New Developmentalism and World Order Change: After Neoliberalism and Hegemony 1 Introduction: Globalisation, the Diffusion of Power and the Post-Listian Developmentalist Turn – The Structural Parameters of Contemporary World Order Change 3 2 Globalisation’s Impact on States, Strategies and Accumulation Regimes: From Neoliberalism to the New Keynesian Macroeconomics 13 Part II The Political Economy of China’s Post-Listian Rise: State Developmentalism beyond Neomercantilism 3 Debating Contemporary Developmentalism and the ‘China Model’: From Neomercantilism to ‘Gated’ Globalisation 41 4 Beyond the Gated Globe: China as a Post-Listian Developmental State 63 Part III Post-Neoliberal South America: Between National and Regional Neodevelopmentalism 5 The New Developmental Regionalism in Post-Neoliberal South America 87 6 The Theoretical Contestation of Developmental Regionalism in South America 112 7 National Neodevelopmentalist Models in South America 128 8 The Tensions, Contradictions and Possibilities of the Liberal Neodevelopmentalist Model 152 Part IV The European Union and the Eurozone: A Developmental Outlier in Crisis and Reform 9 The Political Economy of ‘Maastricht EMU’: Depoliticisation and the German Model 175 vii viii Contents 10 The French Model of European Monetary Union: Sovereignty, the Eurozone Debt Crisis and the Repoliticisation of the Euro 194 11 Conclusion: Developmentalist Globalisation, US Decline and Post-Listian World Order 222 Notes 231 Bibliography 233 Index 249 Acknowledgements This book attempts to further develop themes and ideas from some of my more recent IPE publications. It also draws on ideas and materi- als from undergraduate and postgraduate courses in IPE that I have taught at the University of Lincoln, UK, and the University of Western Australia. I would like to acknowledge the opportunities provided by both institutions to develop my research and teaching interests in IPE. I would also like to acknowledge the time and support provided by the IPE series editors at Palgrave and the typesetting team at MPS. Finally, the book’s production was made possible by the selfless support provided by my partner, Jackie Strange. My special thanks are due to her. ix List of Abbreviations and Acronyms AC Andean Community AFC Asian financial crisis ALBA Bolivarian Alliance for the Peoples of Our Americas ALBA-TCP People’s Trade Agreement APEC Asia-Pacific Economic Cooperation ARRA American Recovery and Reinvestment Act ASEAN A ssociation of Southeast Asian Nations ASEAN+3 Association of Southeast Asian Nations Plus China, Japan and South Korea BRICS Brazil, Russia, India, China, South Africa CACM Central American Common Market CCP Chinese Communist Party CELAC Community of Latin American and Caribbean States CEPAL La Comisión Económica para America Latina (United Nations Economic Commission for Latin America and the Caribbean) ECB European Central Bank ECLA Economic Commission for Latin America ECLAC Economic Commission for Latin America and the Caribbean Ecofin Economic and Financial Affairs Council (of the European Union) ECU European Currency Unit EFSF European Financial Stability Facility EIB European Investment Bank EIF European Investment Fund EMU European Monetary Union ERM Exchange Rate Mechanism ESM European Stability Mechanism EU European Union x
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