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International political economy
International Political Economy (IPE) is the openness of trade and its impact on state political power. Before modern research on globalization, politics and economics had been treated as different topics, with a different view on international relationships and globalization, However an increasing emphasis on global outlook and increasing relation of political and economic occurrences, has encouraged a merger of both studies with the plan of studying how they affect each other.
The study of the relation of international politics and global economy is IPE. Everyone accepts the view that political reforms and actions are enacted in a bid to attain state economic benefits, while economical situations within a country or region also greatly contribute to the resultant political climate. IPE is multidisciplinary and could be studied based on different contexts such as a regional or country specific focus; a global issue such as north – south relations.
The factors which affect the discussion of International political economy are therefore crucial, as it is helpful for the writer and potential readers to understand the situation within which globalization studies have taken place, and the underlying principles that promote political economists’ view of a relation between trade openness and balance of power.
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