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SPS 5024 Globalization and Nation States

/in /by

Introduction:
 
Globalization, by definition, fundamentally challenges the role and significance of the nation state, the central political institution of the modern world. This course examines how that tension has developed, how it has been managed, and with what results. It does so by:
 

  • Assessing the nation state’s role in relation to key components of globalized economic relations: trade, capital and migratory flows
  • Assessing the responses of nation states to the pressures of globalization, by looking at such issues as taxation and social security spending
  • Examining the role of some of the global institutions constructed by nation states to ‘manage’ globalization, such as the IMF and the World Bank
  • Examining two case studies of recent ‘anti-globalization’ politics, the UK and the USA

 
Course aims:
 

  • To introduce students to a series of topics and debates in the area of globalization
  • To encourage students to think about the variety of questions raised in the study of modern political economy, and situate them in a broad context of economic and political change.
  • To promote the students’ critical understanding of secondary literature across the full range of topics relevant to globalization, including, for example, GATT and tariff issues.
  • To encourage students to express their ideas and put forward arguments on complex subjects in the recent political economy of globalization

 
 
Learning Outcomes:
 
On completion of the course students will be able to:
 

  • demonstrate a critical understanding and systematic knowledge of the the relationship between globalization and the nation state.
  • demonstrate an ability to critically evaluate theories and evidence relevant to the subject
  • demonstrate an ability to apply critical analysis in order to evaluate key issues concerning political decision-making in shaping economic developments
  • demonstrate the capacity to synthesize complex theories from the frontiers of the discipline with appropriately evaluated evidence

 
 
Teaching:
 

  • each two hour class will consist of a mixture of lectures and seminars, with an emphasis on student participation.

 
Coursework:
 

  • students will complete two pieces of assessed work.
  • one assignment will test knowledge of key concepts (1,000 words) and will form 25% of the assessment (Due date: 4.00 pm on Monday 17th February 2020).
  • one essay of 3,000 words which will form 75 % of the assessment (Due date: 4.00 pm on Wednesday 1st April 2020).

 
You must submit two hard copies of the assignment to the box in the Adam Smith building, and also through Urkund electronic submission system
 
 
Extensions:
 

  • As course convenor I am allowed to give an extension for a maximum of three

days if circumstances warrant it. Any extension for longer than this can only
be approved by the programme convenor, Dr Duncan Ross or Prof. Jeffrey Fear.
For other information please consult the School of Social and Political
Sciences Postgraduate Handbook and the M.Sc. Global Economy: Programme
Information in the first instance. If you cannot find the information there then
please contact me.
 
 
Key Concepts:

  • ‘monetary trilemma’ (Mundell/Fleming)
  • ‘embedded liberalism’ (Ruggie)
  • ‘globalization trilemma’ (Rodrik)
  • ‘sovereignty at bay’ (Vernon)
  • ‘race to the bottom’ (Brandeis)
  • ‘borderless world’ (Ohmae)
  • ‘golden straitjacket’ (Friedman)

 
 
Course texts:
 
there is no one textbook for this course, but the following will be useful for many of the key themes:
 

  1. Rodrik, The Globalization Paradox. Why Global Markets, States, and Democracy Can’t Co-exist (2011). E-book

 
Other very useful texts:
 

  1. Clift, Comparative Political Economy. States, Markets and Global Capitalism (2014) GUL ECONOMICS A490 CLI
  2. Hirst, G. Thompson and S. Bromley, Globalization in Question (3rd ed, 2009). GUL HIGH DEMAND POLITICS P307 HIR

L.Mosley, Global Capital and National Governments (2003) GUL ECONOMICS W23 MOS
S.Strange, The Retreat of the State (1996) GUL ECONOMICS Q11 STR4

  1. Dicken, Global Shift (7TH edition 2015). E-book
  2. Holton, Globalization and the Nation State (2nd ed 2011) GUL ECONOMICS P507 HOL2
  3. Rodrik, Has Globalization Gone Too Far? (1999) GUL POLITICS Q313 ROD
  4. Garrett, Partisan Politics in the Global Economy (1998) GUL ECONOMICS B590 GAR
  5. Stiglitz, Globalization and its Discontents (2002) GUL ECONOMICS P507 STI

Ha Joon Chang, Kicking Away the Ladder. Development Strategy in Historical Perspective (2003) GUL ECONOMICS C820 CHA4
A.Glyn, Capitalism Unleashed; Finance, Globalization and Welfare (2007) E-book

  1. Woods (ed.), The Political Economy of Globalization (2000) ch 5. E-book
  2. Wolf, Why Globalization Works (2004) GUL HIGH DEMAND P507 WOL
  3. Weiss, The Myth of the Powerless State (1998) GUL ECONOMICS C820 WE12
  4. Serra and J. Stiglitz, Washington Consensus Reconsidered (2008) E-book

 
 
Session 1 (14th January) The problem and its setting. Trends and cycles in globalization. The rise and fall (?) of the nation state.
 
Core reading
Rodrik, Globalization Paradox, chs1, 2, 9-12
Speech by Kofi Annan: http://www.li.suu.edu/library/circulation/Gurung/soc4500sgTheRoleOfStateAgeSp12.pdf
Hirst and Thompson, ‘Globalization and the future of the nation state’ Economy and Society 1995, pp.408-424

  1. Wolf, ‘Will the nation state survive globalization?’ Foreign Affairs Jan/Feb 2001 https://www.foreignaffairs.com/articles/2001-01-01/will-nation-state-survive-globalization

Further reading:
 

  1. O’Rourke and J. Williamson, ‘When did globalization begin?’ European Review of Economic History 6 (2002), pp.23-50
  2. Bordo, A. Taylor and J.Williamson (eds.), Globalization in Historical Perspective (Chicago, 2003) E-book

K.Ohmae, Borderless World (1990) GUL ECONOMICS Q11 OHM
K.Ohmae, The End of the Nation State: the Rise of Regional Economies (1995) GUL ECONOMICS Q313 OHM

  1. Friedman, The Lexus and the Olive Tree (2000) GUL ECONOMICS P507 FRI
  2. Friedman, The World is Flat (2005) SOCIOLOGY A250 FRI12
  3. Leamer, ‘A Flat World?, a Level Playing Field, a Small World, or None of the Above? A review of Friedman’s The World is Flat’ Journal of Economic Literature 65 (2007), pp.83-126

Hirst, Thompson and Bromley, Globalization in Question, pp.1-4 and chapter 2
P.Hirst and G.Thompson, ‘Globalization and the future of the nation state’ Economy and Society 24 (1995), pp.408-424.

  1. Quiggin, ‘Globalization and economic sovereignty’ Journal of Political Philosophy 9 (2001), pp.56-80.
  2. Perraton, ‘The global economy-myths and realities (review article)’ Cambridge Journal of Economics 25 (2001), pp.669-684
  3. Ruggie, ‘International regimes, transactions and change: embedded liberalism in the post-war economic order’ International Organization 36 (1982), pp.379-415
  4. Ruggie, Constructing the World Polity (2002) GUL POLITICS X10 RUG
  5. Weiss, ‘The state-augmenting effects of globalization’, New Political Economy 10(3) (2005), pp. 345-53
  6. Brinkman and J. Brinkman, ‘Globalization and the Nation-state: dead or alive?’ Journal of Economic Issues 42 (2008), pp.425-433
  7. Goldblatt, D. Held, A. McGrew, J. Perraton, ‘Economic globalisation and the nation state’ Soundings 7 Autumn 1997, pp.61-77: http://www.amielandmelburn.org.uk/collections/soundings/07_61.pdf
  8. Reich, The Work of Nations (1992) GUL HIGH DEMAND ECONOMICS BIO66 REI

 
Session 2 (21st January) International trade and the nation state.
 
Core reading:
Rodrik, The Globalization Paradox, chapter 3
http://www.newyorker.com/news/john-cassidy/r-i-p-free-trade-treaties
A.Blinder, ‘Offshoring: the next industrial revolution’ Foreign Affairs 85 (March/April 2006), pp.113-128

  1. Acemoglou et al, ‘The rise of China and the future of US manufacturing’ http://www.voxeu.org/article/rise-china-and-future-us-manufacturing

 
 
Further reading:

  1. Arestis, et al ‘Trade flows revisited: further evidence on globalization’ Cambridge Journal of Economics 36 (2012), pp.481-493
  2. Autor et al, ‘The China Syndrome: Local Labor Market Effects of Import Competition in the United States’ American Economic Review 103 (2013), pp.2121-2168
  3. Haskel, R. Lawrence, E.Leamer, and M. Slaughter, ‘Globalization and U.S. Wages: Modifying

Classic Theory to Explain Recent Facts’ Journal of Economic Perspectives 26 (2012), pp.119-140
http://www.vanderbilt.edu/econ/faculty/Driskill/DeconstructingfreetradeAug27a2007.pdf

  1. Krugman, ‘Trade and wages reconsidered’ Brooking Papers in Economic Activity

http://www.brookings.edu/~/media/projects/bpea/spring-2008/2008a_bpea_krugman.pdf
Rodriguez and Rodrik ‘Trade policy and economic growth. A skeptic’s guide to the cross-national evidence’ http://www.nber.org/chapters/c11058.pdf
J.M.Keynes, ‘National self-sufficiency’ in Keynes, Collected Writings volume XXI (1971) GUL A606.K3 1971

  1. Baicker and M. Rehavi, ‘Policy Watch: Trade Adjustment assistance’ Journal of Economic Perspectives 18 (2004), pp.239-555.
  2. Moore, A World Without Walls (2003) GUL ECONOMICS Q313 MOO
  3. Goldberg and N. Pavcnik, ‘Distributional effects of globalization in developing countries’ Journal of Economic Literature 45 (2007), pp.39-82

 
Session 3 (28th January) MNEs, the nation state and the ‘race to the bottom’ in standards.
 
Core reading:

  1. Vernon, ‘Economic sovereignty at bay’ Foreign Affairs 47 (1968), pp.110-123

L.Eden, ‘The realist adjusts the sails: Vernon and MNE-state relations over three decades’ Journal of International Management 6 (2000) pp.335-342
Hirst, Thompson and Bromley, Globalization in Question, chapter 3.
 
Further reading:
S.J. Kobrin, ‘Sovereignty at bay: globalization, multinational; enterprises and the international political system’ in A. Rugman (ed), Oxford Handbook of International Business, (2009), pp.181-205. Ebook.

  1. Olney, ‘Race to the bottom’, Journal of International Economics 91 (2013), pp.191-203.
  2. Jensen, Nation-states and the Multinational Corporation (Princeton, 2008) GUL ECONOMICS W38 GEN2
  3. Dunning and S. Lunden, Multinational Enterprises and the Global Economy (2008) GUL HIGH DEMAND ECONOMICS F457 DUNN18

W.Olney, ‘A race to the bottom? Employment protection and foreign direct investment’ Journal of International Economics 91 (2013), pp.193-203.

  1. Xing and C. Kolstad, ‘Do lax environmental regulations attract foreign investment?’ Environmental and Resources Economics 21 (2002), pp.1-22.
  2. Wheeler, ‘Racing to the Bottom? Foreign Investment and Air Quality

in Developing Countries’ Journal of Environment & Development, 10 (2001), pp. 225-245

  1. Davies and K.Vadlamannati, ‘A race to the bottom in labour standards? An empirical investigation’ Journal of Development Economics 103 (2013), pp.1-14
  2. Vernon, In the Eye of the Hurricane: the troubled prospects of Multinational Enterprises (Cambridge, Mass. 1998). GUL ECONOMICS F457 VER2
  3. Jones, Entrepreneurship and Multinationals: Global Business and the Making of the Modern World (2013), GUL ECONOMICS F457 JON5 Chapter 9 = G. Jones, ‘The End of Nationality? Global Firms and Borderless Worlds’ Zeitschrift für Unternehmensgeschichte 51 (2006) pp. 149 – 165
  4. Jones Multinationals and Global Capitalism (Oxford, 2005) E-book
  5. Jones, ‘Globalization’ in G. Jones and J. Zeitlin (eds.), The Oxford Handbook of Business History (Oxford, 2007), pp.141-68. E-book
  6. Brakman and H. Garretsen (eds.), FDI and the Multinational Enterprise (2008) E-book
  7. Jensen, ‘Political risk, democratic institutions and FDI’ The Journal of Politics 70 (2008), pp.1040-1052
  8. Buthe and H. Milner, ‘The politics of FDI into developing countries: increasing FDI through international trade agreements’ American Journal of Political Science 52 (2008), pp.741-62
  9. Dunning (ed.), Governments, Globalization and International Business (1999) E-book

OECD, Annual Reports of OECD Guidelines for Multinationals (Paris, annual)
 
Session 4 (4th January) ‘Short-term’ capital and financial flows
Core reading:
Rodrik, Globalization Paradox, chapter 5

  1. Rodrik and Subramanian, ‘Why did financial globalization disappoint?’ IMF Staff Papers 56 (2009), pp.112-38
  2. Mosley, ‘Globalisation and the state: Still room to move?’ New Political Economy 10 (2005), pp.355-62.
  3. Bhagwati, ‘The capital myth’ Foreign Affairs 77(1998), pp.7-12.

 
Further reading:

  1. Mosley, ‘Room to move: international financial markets and national welfare states’ International Organization 54 (2000), pp.737-773
  2. Goodman and L. Pauly, ‘The obsolescence of capital controls? Economic management in an age of global markets’ World Politics 46 (1993), pp.50-82
  3. Helleiner, ‘Explaining the globalization of financial markets: bringing the states back in’ Review of International Political Economy 2 (1995), pp. 315-341.
  4. Cohen, ‘Phoenix Risen: the resurrection of global finance’ World Politics 48 (1996), pp.268-296.
  5. Irwin, The missing Bretton Woods debate over flexible exchange rates. National Bureau of Economic Research, Working Paper 23037 (2017). http://www.nber.org/papers/w23037.pdf
  6. Quinn and C. Inclan ‘The origins of financial openness: a study of current and capital account liberalization’ American Journal of Political Science 41 (1997), pp.771-813

L.Mosley, Global Capital and National Governments (2003) GUL ECONOMICS W23 MOS

  1. Kirshner, ‘Keynes, capital mobility and the crisis of embedded liberalism’ Review of International Political Economy 6 (1999), pp.313-337
  2. Pinto, Partisan Investment in the Global Economy (2013) GUL ECONOMICS W38 PIN)

A.Bloomfield, ‘Post-war control of international capital movements’ American Economic Review 36 (1946), pp.687-709

  1. Frieden, Global Capitalism. Its Fall and Rise in the Twentieth Century (2007) GUL ECONOMICS P507 FRI3
  2. Obstfeld and A. Taylor, Global Capital Markets. Integration, Crisis and Growth (Cambridge, 2004) GUL HIGH DEMAND ECONOMICS V181 OBS
  3. Cohen, ‘The resurrection of global finance: review article’ World Politics 48 (1996), pp.268-96

 
Session 5 (11th February) International migration and the role of the nation state.
 
Core reading:
Hirst, Thompson and Bromley, Globalization in Question, pp.29-34

  1. Freeman ‘People flows in globalization’ Journal of Economic Perspectives 20 (2006), pp.145-170

OECD International Migration Outlook, 2019 (OECD, 2018)  https://www.oecd-ilibrary.org/sites/c3e35eec-en/index.html?itemId=/content/publication/c3e35eec-en&mimeType=text/htmlesp.  Chapters 1 and 3.
 
 
 
 
Further reading:
 
OECD Perspectives on Global Development, 2017, International Migration in a Shifting World, OECD Publishing (2016), Chapter 1.  https://emnbelgium.be/publication/perspectives-global-development-2017-international-migration-shifting-world-oecd

  1. Hatton and J. Williamson, (eds.), Global Migration and the World Economy (2005) GUL SOCIAL SCIENCES E217 HAT2
  2. Keeley, International Migration: The Human Face of Globalisation (OECD, 2009)

H, Rapaport, Migration and Globalization: What’s in it for Developing Countries? International Journal of Manpower, Vol. 37 Issue: 7, (2016) pp.1209-1226

  1. Docquier and H Rapaport, Globalization, Brain Drain and Development’ Journal of Economic Literature 50:3 (2012) 681-730.
  2. Hatton, ‘Emigration from the UK, 1870-1913 and 1950-1998’ European Review of Economic History 8 (2004), pp.149-71
  3. Collier, Exodus (Oxford, 2013), chapter 4. GUL SOCIAL SCIENCES E33 COL
  4. Castles and M. Miller, The Age of Migration (4TH ed, 2009) GUL HIGH DEMAND SOCIAL SCIENCES E32 CAS4
  5. Bhagwati, In Defence of Globalization (2007), chapter 14 E-book

 
 
Session 6 (18th February) Globalization and the welfare state: Public spending, taxation and social security
 
Core reading:

  1. Rodrik, ‘Why do more open economies have larger governments?’ Journal of Political Economy 106 (1998), pp.997-1032

OECD ‘Corporate tax remains a key revenue source, despite falling rates worldwide’:   https://www.oecd.org/tax/corporate-tax-remains-a-key-revenue-source-despite-falling-rates-worldwide.htm AND http://www.oecd.org/tax/tax-policy/corporate-tax-statistics-database-first-edition.pdf

  1. Iversen and T.Cusack, ‘The causes of welfare state expansion: deindustrialization or globalization?’ World Politics, 52 (2000), pp. 313-349

 
Further reading:

  1. Atkinson, Inequality. What Can be Done? (2015), chapter 10. GUL High Demand Economics B790.15 ATK3
  2. Troeger, ‘Tax competition and the myth of the “race to the bottom”. Why Governments still tax capital’: https://www.chathamhouse.org/sites/files/chathamhouse/public/Research/International%20Economics/0213bp_troeger.pdf

M.Devereux et al, ‘Do countries compete over corporate tax rates?’ Journal of Public Economics 92 (2008), pp.1210-1235.

  1. Swank and S. Steinmo, ‘The new political economy of taxation in advanced capitalist democracies’ American Journal of Political Science 46 (2002), pp.642-655

 

  1. Swank, Global Capital, Political Institutions and Policy Change in Developed Welfare States (Cambridge, 2002), chapter 6. GUL POLITICS 4790 SWA
  2. Navarro, ‘Are pro-welfare state and full-employment policies possible in the era of globalization’ International Journal of Health Services 30 (2000), pp.231-251
  3. Garrett, ‘Trade, capital mobility and the domestic politics of economic policy’ International Organization 49 (1995), pp.657-687

A.Walker and C-Kine Wang East Asian Welfare Regimes in Transition: from Confucianism to Globalization (2005) E-book
P.Pierson, The New Politics of the Welfare State (2001) E-book

  1. Tanzi, ‘The Demise of the Nation State?’ http://www.imf.org/external/pubs/ft/wp/wp98120.pdf
  2. Rodrik, ‘Capital mobility, distributional conflict and international tax co-ordination’ GUL ECONOMICS PT139 NBE no 7150
  3. Goldberg and N. Pavcnik, ‘Distributional effects of globalization in developing countries’ Journal of Economic Literature 45 (2007), pp.39-82
  4. Murphy, The Joy of Tax? (2015)

 
Session 7 (25th February) Global Institutions and Nation States: the WTO
 
Core reading:
Rodrik, Globalization Paradox, chapters 4 and 8

  1. Meltzer, ‘State sovereignty and the legitimacy of the WTO’ https://www.law.upenn.edu/journals/jil/articles/volume26/issue4/Meltzer26U.Pa.J.Int’lEcon.L.693(2005).pdf
  2. Stiglitz, Making Globalization Work (2007), chapter 3 GUL ECONOMICS P507 STI
  3. Stiglitz, Globalization and its Discontents (2002), chapter 9 GUL ECONOMICS P507 STI

 
Further reading:

  1. van Bossche, The Law and Policy of the WTO (3RD ed. 2013), pp.1-40, 74-148. HIGH DEMAND Law L46BO53
  2. Moore, A World Without Walls (2003) GUL ECONOMICS Q313 MOO
  3. Rodrik, ‘Review’ of Moore, A World Without Walls in Foreign Affairs 82 (2003), pp.135-140.
  4. Kim, ‘Does the WTO promote trade?’ Journal of International Trade and Economic Development 19 (2010), pp.421-37.
  5. Michalopoulos, Emerging Powers in the WTO (2013) Ebook.
  6. Sorensen, ‘Free markets for all’ in D. Claes and C. Knutsen (eds.), Governing the Global Economy (2011), pp.70-90 GUL ECONOMICS P507 CLA2

A.Rugman, The End of Globalization (2000), chapter 2 GUL F457 RUG 6

  1. Ostry, ‘The multilateral trading system’ in A. Rugman and T. Brewer (eds.), The Oxford Handbook of International Business (2001), pp.232-258 GUL ECONOMICS F457 RUG7

A.K Rose, ‘Do we really know that the WTO increases trade?’ American Economic Review, 94 (2004) pp. 98-114

  1. Panitchpakdi and M. Clifford, China and the WTO (2002), GUL Q204 PAN.

 
 
 
Session 8 (3rd March) Global Institutions and Nation States: the IMF
 
Core reading:

  1. Stiglitz, Globalization and its Discontents (2002), especially chapters 3,4, 8, and 9.

IMF, “The liberalization and management of capital flows: an institutionalist
view”, (14 November 2012),
http://www.imf.org/external/np/pp/eng/2012/111412.pdf

  1. Boughton, ‘From Suez to tequila: the IMF as crisis manager’ Economic Journal 110 (2000), pp.273-291

 
Further reading:

  1. Babb, ‘The Washington Consensus as transnational policy paradigm: its origins, trajectory and likely successor’ Review of International Political Economy 20 (2013), pp.268-297.
  2. Chwieroth, Capital Ideas: The IMF and the Rise of Financial Liberalization (2010) GUL ECONOMICS V181.5 CHW
  3. Keohane and A. Underdal ‘The West and the rest in global economic institutions’ in D. Claes and C. Knutsen (eds.), Governing the Global Economy (2011), pp.51-69 GUL ECONOMICS P507 CLA2
  4. Copelovitch, The International Monetary Fund in the Global Economy:Banks, Bonds, and Bailouts (2010) esp. chs 1-3 GUL ECONOMICS V181.5 COP

A.Krueger, ‘Whither the world bank and the IMF?’ Journal of Economic Literature 36 (1998), pp.1983-2020

  1. Blanchard, G. Dell’Ariccia and P. Mauro, ‘Rethinking Macroeconomic Policy’ IMF Staff Position Note 2010 https://www.imf.org/external/pubs/ft/spn/2010/spn1003.pdf

IMF, “The liberalization and management of capital flows: an institutionalist
view”, (14 November 2012),
http://www.imf.org/external/np/pp/eng/2012/111412.pdf
 
 
Session 9 (10th March):  globalisation, national policies and the crisis and recovery from 2007
 
Core reading:

  1. Thompson, ”Financial globalization” and the “crisis”: a critical account and “What is to be done”’ New Political Economy 15 (2010), p.127-146

G20 SUMMIT April 2009: https://www.imf.org/external/np/sec/pr/2009/pdf/g20_040209.pdf

  1. Pauly, ‘Managing Financial Emergencies in an Integrating World’ Globalizations 6 (2009), pp. 353–64 http://munkschool.utoronto.ca/pauly/selected_publications/Pauly%20Globalizations%20Article%20Final.pdf

Further reading:
Rodrik, Globalization Paradox, chapters, 11 and 12.

  1. Blanchard, G. Dell’Ariccia and P. Mauro, ‘Rethinking Macroeconomic Policy’ IMF Staff Position Note 2010: https://www.imf.org/external/pubs/ft/spn/2010/spn1003.pdf
  2. Helleiner, ‘Multilateralism reborn? International co-operation and the global financial crisis’ in . NBermeo and J. Pontusson (eds), Coping with Crisis. Government Reactions to the Great Recession (2012), pp.65-90. GUL ECONOMICS A4055 BER4.

C.Adam and D. Vines, ‘Remaking macroeconomic policy after the global financial crisis: a balance sheet approach’ Oxford Review of Economic Policy 25 (2009), pp.507-552.
G20 SUMMIT November 2008: http://www.g20.utoronto.ca/summits/2008washington.html
China and the G20: http://www.economist.com/node/13398646
The US and the G20: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=axEnb_LXw5yc&refer=home

  1. Wren-Lewis, ‘Macroeconomic policy in the light of the credit crunch: the return of counter-cyclical fiscal policy?’ Oxford Review of Economic Policy 26 (2010), pp.71-86

J.Lybeck, A Global History of the Financial Crash of 2007-10 (2011) GUL ECONOMICS A 4055 LYB

  1. Blyth, Austerity. The History of a Dangerous Idea (Oxford, 2013) GUL HIGH DEMAND ECONOMICS YR15 BLY

 
 
Session 10: (17th March) Anti-globalization and the nation state:  a) the UK and Brexit
 
Core reading:

  1. Coyle, ‘Brexit and globalisation’ Vox http://voxeu.org/article/brexit-and-globalisation
  2. Reinhart ‘Brexit’s blow to globalization’ Project Syndicate https://www.project-syndicate.org/commentary/brexit-blow-to-globalization-by-carmen-reinhart-2016-06

Lord Ashcroft, ‘How the UK voted on Thursday…and why’: http://lordashcroftpolls.com/2016/06/how-the-united-kingdom-voted-and-why/

  1. Tomlinson, ‘Brexit, Globalization and Deindustrialization’ April 2017:

http://voxeu.org/article/brexit-globalisation-and-de-industrialisation
 
Further reading:

  1. Hirst and G.Thompson, ‘Globalization in one country?’ Economy and Society 29 (2000), pp.335-356
  2. Clift & J. Tomlinson ‘When Rules Started to Rule: The IMF, Neo-Liberal Economic Ideas, and Economic Policy in Britain’ Review of International Political Economy 19 (2012), pp.377-400

C.Schenk, ‘The origins of the Eurodollar market in London: 1955-1963’ Explorations in Economic History 35 (1998), pp.221-238

  1. Clift & J. Tomlinson ‘Credible Keynesianism? New Labour Macroeconomic Policy and the Political Economy of Coarse Tuning’ British Journal of Political Science 37 (2007), pp.47-69
  2. Clift & J. Tomlinson, ‘Negotiating credibility? Britain and the IMF from 1956 to 1976’ Contemporary European History 17 (2008), pp.545-566
  3. Brown, Beyond the Crash. Overcoming the First Crisis of Globalization (2010)

C.Schenk, ‘The new City and the state in the 1960s’ in R. Michie and P.Williamson (eds.), The British Government and the City of London in the Twentieth Century (Cambridge, 2004), pp.322-39

  1. Burn, The Re-emergence of Global Finance (2006) E-book
  2. Helleiner, ‘Explaining the globalization of financial markets: bringing the states back in’ Review of International Political Economy 2 (1995), pp. 315-341
  3. Thompson, ‘The nation-state and international capital flows in historical perspective’ Government and Opposition 32 (1997), pp.84-113
  4. Michie and J. Grieve-Smith, Managing the Global Economy (1995) GUL ECONOMICS C820 MIC
  5. Runge Briefing: Overview of Evidence on Economic Impacts of EU Immigration NIESR, 19 August 2019 https://www.niesr.ac.uk/sites/default/files/publications/NIESR%20Briefing%20Economic%20Impacts%20of%20EU%20Immigration.pdf
  6. Rolfe et.al. Post-Brexit Immigration Policy: Reconciling Public Perceptions with Economic Evidence (NIESR 2018) https://www.niesr.ac.uk/sites/default/files/publications/FINAL%20Leverhulme%20report%20FINAL.pdf

 
 
 
Session 11 (24th March) Anti-globalization and the nation state: b) The USA versus China
 
Core reading:
 

  1. Klein, ‘How many US manufacturing jobs were lost to globalisation?’: https://ftalphaville.ft.com/2016/12/06/2180771/how-many-us-manufacturing-jobs-were-lost-to-globalisation/
  2. Griswold,’ America’s misunderstood trade deficit’: https://www.cato.org/publications/congressional-testimony/americas-misunderstood-trade-deficit

Wei, Shang-Jin, Zhuan Xie, and Xiaobo Zhang, “From “Made in China” to “Innovated in China”: Necessity, Prospect, and Challenges.” Journal of Economic Perspectives, 31 (2017), pp. 49-70.
 
 
 
Further Reading:
 
Brad de Long, ‘America’s superpower panic’: https://www.project-syndicate.org/commentary/america-china-superpower-rivalry-history-by-j-bradford-delong-2019-08

  1. Irwin, ‘The false promise of protectionism’ Foreign Affairs May/June 2017.
  2. Zhu, ‘Understanding China’s growth: past, present, and future’ Journal of Economic Perspectives, 26 (2012), pp.103-124.
  3. Bernanke,‘ China’s trilemma and a possible solution’https://www.brookings.edu/blog/ben-bernanke/2016/03/09/chinas-trilemma-and-a-possible-solution/

L.Liew, ‘US trade deficits and Sino-US relations’ Journal of Contemporary Asia 40 (2010), pp.656-763.

  1. Prasad, ‘China’s efforts to expand the international role of the Renminbi’

China’s efforts to expand the international use of the renminbi

  1. Ben-Atar, ‘Alexander Hamilton’s Alternative: technology policy and the report on manufactures’ William and Mary Quarterly 52 (1995), p.389-414 https://www-jstor-org.ezproxy.lib.gla.ac.uk/stable/pdf/2947292.pdf?refreqid=search%3Aae20db44fcca1c9bfa8dcf0e87b7986d

 
Paul Krugman, ‘Krugman on Trump, China, Trade Wars’ video at: https://www.youtube.com/watch?v=8mHR9lngS3o
 

  1. Haskel et al, Globalization and US wages: modifying classical theory to explain recent facts’ Journal of Economic Perspectives 26 (2012), pp.119-139.
  2. Baicker and M. Rehavi, ‘Policy watch: Trade Adjustment Assistance’ Journal of Economic Perspectives 18 (2004), pp. 239-255.

 

  1. Ferchen, ‘Whose China model is it anyway? The contentious search for consensus’ Review of International Political Economy 20 (2013), pp.390-420.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Essay titles:

  • To what extent, if at all, has the expansion of MNEs undermined national sovereignty?
  • What is the case for reducing restrictions on international migration?
  • Has there been a ‘race to the bottom’ in standards as a result of globalization?
  • Why has the trend in welfare state spending been upwards in most countries over the last 50 years?
  • How important has the WTO been in helping national governments achieve their economic policy aims?
  • What was the ‘Washington Consensus’? Did it help or hinder national governments in achieving their economic policy aims?
  • Was the Brexit decision in 2016 a vote against globalization?
  • Assess the impact of the Trump Presidency’s attempts to ‘reverse globalization’.
  • What did the crisis which began in 2008 show about the effectiveness or ineffectiveness of national governments in economic policy?
  • Why did restrictions on international capital flows break down from the 1950s?

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