Trends and Turbulence in the Emergence of Global Political Economy
- Author Dr. Gaurav Sharma
- DOI
- Country : India
- Subject : Political science
Keywords : Interdependence, Political Economy, Globalization, Bretton Woods, Liberalization, Trade, Tariffs.
Abstract
Political economy, the close interplay of economic factors and political decisions, has emerged in over a period of time and has seen many ups and downs in its emergence. An ever increasing role of political economy has been the order of the day in this era of close cooperation and complex interdependence. The global political and economic environment was profoundly affected by the demise of the erstwhile USSR and subsequent end of Cold War. The issues of ‘low politics’ like welfare economy, equality-inequality and environmental sustainability got increased focus in the Post-Cold War Era in global politics alongside the already existing issues of ‘high politics’ like war and peace. The present research paper attempts to analyze the major trends and the turbulent phases in the emergence of the present day globalised political economy. These trends aptly explain the journey of the field of political economy from international to global in nature. The force behind this journey has been identified as the processes of intensified globalization.
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