INTL 532/ MGEC 632 ADVANCED TOPICS IN POLITICAL ECONOMY
KOÇ UNIVERSITY
COLLEGE OF ADMINISTRATIVE SCIENCES AND ECONOMICS
DEPARTMENT OF INTERNATIONAL RELATIONS
Spring 2008
INSTRUCTOR: Professor Ziya Öniş
OFFICE: CASE 150
LECTURE HOURS: Thursday 14:30-17:00
OFFICE HOURS: Tuesday 14:00-16:00
Thursday 11:00-12:00
E-mail: zonis@ku.edu.tr
TEACHING ASSISTANT: Koray Mutlu
E-Mail: kmutlu@ku.edu.tr
COURSE DESCRIPTION
The course aims to provide an in-depth coverage of selected set issues in the field of
international and comparative political economy. Topics to be covered this year include the
global trade and investment regime: from GATT to WTO and beyond; new regionalism in
comparative perspective; the European model of political economy and its future; NAFTA, Asia
Pacific and Mercosur: evolution and future prospects; the global financial system, emerging
market crises and the reform of the IMF; the emerging Post-Washington Consensus and the
future of north-south relations; the Turkish neo-liberal experiment; the dynamics of financial
crises and post-crisis adjustment in Turkey; and the political economy of Turkey – EU relations.
ASSESSMENT
Term Paper Project 40 %
The term paper should approximately be between 8000 and 10000 words. Feel free to
come and discuss with me about your possible term paper projects. Keep in mind that originality
of your work will directly contribute to the quality of your work, so do not wait until the last
minute to decide on your paper topic.
Class Participation 20%
Class participation includes one individual presentation which will approximately take
30 minutes and active involvement in discussions. You are not supposed to do all readings, but
you should be familiar with at least some parts of the readings. The readings marked with an (*)
are the key readings of selected topics of the course. Some part of these marked readings will be
elaborated by the Professor during the lecture and the rest will be presented by one of you who
is responsible to make presentation. So, to have lively discussions and active participation, you
1
should read at least some of these marked and non-marked readings before the class time. The
readings of each week will be declared previously and you can decide on what you will read.
Possibly, you can make division of labor among yourself on weekly readings and this would
increase the quality of class discussions since each one of you will have something to say.
2 Critical Review Paper 40 %
You should select two or more related article on any issue for each critical review paper,
and you should critically analyze the linkage between the two. The articles may be selected from
the syllabus. Keep in mind that this is a critical paper, so you should be critical by presenting
weaknesses and strengths of the articles you selected. To what extent those articles complement
each other, and what are the missing points in those articles and etc.
BACKGROUND TEXTS:
Stiglitz, J. 2006. Making Globalization Work. New York: Penguin Group.
John Ravenhill. 2005. Global Political Economy. New York: Oxford University
Press.
Kemal Derviş with Ceren Özer. 2005. A Better Globalization: Legitimacy,
Governance and Reform. Washington DC. Center for Global Development.
Neo-Liberal Globalization and Its Challenges
Stiglitz, J. Ch.1.
John Gerard Ruggie, (1982), ‘International Regimes, Transactions and Change: Embedded
Liberalism in the Postwar Economic Order’, International Organization, Vol. 35, No. 2, pp.
379–415.
Cerny, P. Soederberg, S. & Menz, G. (2005). “Different Roads to Globalization: Neoliberalism,
the Competition State and Politics in a More Open World” in Soederberg (eds). Internalizing
Globalization, New York: Palgrave Macmillan.
Wade, R. (1996), “Globalization and Its Limits: Reports of the Death of the National Economy
are Greatly Exaggerated”, in Suzanne Berger and Ronald Dore (eds) National Diversity and
Global Capitalism, Chapter 2, Ithaca: Cornell University Press, 60-88.
Gilpin, R. (2000), The Challenge of Global Capitalism, Princeton: Princeton University Press,
pp. 15-52, 293-325.
Scholte, J. A. (1997), “Global Capitalism and the State” International Affairs, 73 (3), 437-452.
Evans, P. (1997), “The Eclipse of the State? Reflections on Stateness in an Era of
Globalization”, World Politics, 50 (1), 62-87.
2
Quiggin, J. (2001), “Globalization and Economic Sovereignty”, Journal of Political Philosophy,
9 (1), 56-80
Fischer, S. (2003) “Globalization and Its Challenges”, American Economic Review, 93 (2), 130.
Krueger, A. (2007), “An Enduring Need: Multilateralism in the Twenty-First Century”, Oxford
Review of Economic Policy, 23 (3), 335-346.
Williamson, J. (2005), “Winners and Losers over Two Centuries of Globalization” in Atkinson
et al (eds), Wider Perspectives on Global Development, New York: Palgrave Macmillan, 136175.
The International Trade and Investment Regime: GATT/WTO and FDI
Ravenhill, Chs 1-4.
Stiglitz, Ch 3, 7.
Wade, R.H.. 2003. “ What Strategies are Viable for Developing Countries Today? The World
Trade Organization and the Shrinking of the ‘ Development Space’”. Review of International
Political Economy, Vol. 10, No.4.
Wilkinson,R. 2006.”The WTO in Hong Kong: What it Really Means for the Doha Development
Agenda”.New Political Economy,Vol. 11, No.2.
Collier, P. (2006) “Why the WTO is Deadlocked: And What Can Be Done About It”, The
World Economy, 29 (10), 1423-1449.
Sutherland, P. (2007), “Challenges to Multilateral Trading System”, World Economics, 8 (1), 115.
Weiss,L. 2005. “Global Governance and National Strategies: How Industrialized States Make
Room to Move under the WTO”. Review of International Political Economy, Vol. 12, No.5.
Narlikar, A. (2002). “The Politics of Participation: Decision Making Processes and Developing
Countries in the World Trade Organization”, The Round Table, 364, pp. 171-185.
Narlikar, A. & Tussie, D. (2004). “The G-20 at Cancun Ministerial: Developing Countries and
Their Evolving Coalitions in the WTO”, The World Economy, vol. 27, no. 27, pp. 947-966.
Saggi, K. (2002), “Trade, Foreign Direct Investment and International Technology Transfer: A
Survey”, The World Bank Research Observer, 17 (2), 191-235.
Abdur Chowdhury and George Mavrotas (2006), “FDI and Growth: What Causes What”, The
World Economy, 29 (1), 9-19.
3
Gualerzi, D. (2007) “Globalization Reconsidered: Foreign Direct Investment and Global
Governance”, International Journal of Political Economy, 36 (1), 3-29.
Mayer, T. Coupet, M. & Benassy-Quere, A. (2007) “Institutional Determinants of Foreign
Direct Investment”, The World Economy, 764-782.
Deepak Sethi; S. E. Guisinger; S. E. Phelan; D. M. Berg (2003), “Trends in Foreign Direct
Investment Flows: A Theoretical and Empirical Analysis”, Journal of International Business
Studies, Vol. 34, No. 4. pp. 315-326.
Janicki, H. & Vunnava, P. (2004) “Determinants of Foreign Direct Investment: Emprical
Evidence from EU Accession Countries”, Applied Economics, 36, 505-509.
Jenkins, R. (2003), “Theoretical Perspectives on the Transnational Corporation” in Goddard, R,
P. Cronin & K. Dash (eds). International Political Economy: State-Market Relations in a
Changing Global Order. Colorador: Lynn Reinner Publishers, 415-435.
Goddard, R. (2003), “Defining Transnational Corporation in the Era of Globalization”, in
Goddard, R, P. Cronin & K. Dash (eds). International Political Economy: State-Market
Relations in a Changing Global Order. Colorador: Lynn Reinner Publishers, 435-549.
New Regionalism in Comparative Perspective. NAFTA, the EU and the AsiaPacific
Ravenhill, Chs 5, 10.
Derviş, Ch 8.
Giddens, A., eds, 2001. The Global Third Way Debate. Cambridge: Polity Press (. Ch. 7, 8, ).
Hette,B. 2005. “ Beyond’New Regionalism”. New Political Economy, Vol. 10.No.4.
Pomfret, R. (2007), “Is Regionalism is an Increasing Feature of World Economy”,The World
Economy, 923-947.
Warleigh-Lack, A. (2006), “Towards a Conceptual Framework for Regionalisation: Bridging
‘New Regionalism’ and ‘Integration Theory’, Review of International Political Economy, 13
(5), 750-771.
Gruegel, J. 2004. “ New Regionalism and Modes of Governance-Comparing US and EU
Strategies in Latin America”. European Journal of International Relations, Vol. 10, No.4.
Philips, N. (2003), “The Rise and Fall of Open Regionalism? Comparative Reflections on
Regional Governance in the Southern Cone of Latin America”, Third World Quarterly, 24 (2),
217-234.
Miguel D. Ramirez. Mexico under NAFTA: a critical assessment. The Quarterly Review of
Economics and Finance, Volume 43, Number 5 (2003), pp. 863-892.
4
Rivas-Campo, J. & Benke, R. (2003). “FTAA Negotiations: Short Overview”, Journal of
Economic Law, vol. 6, no. 3, pp. 661-694.
Philips, N. (2005). “The New Politics of Trade in the Americas” in Kelly, D. & Grant, W. (eds).
The Politics of International Trade in the Twenty-First Century. New York, Palgrave
Macmillan.
Bowles, P. 2002. “ Asia’s Post-Crisis Regionalism: Bringing the State Back in, Keeping the (
United) States Out”. Review of International Political Economy,Vol. 9, No.2.
Weiss.L. 2004. “ Developmental States Before and After the Asian Crisis” in J. Perraton and
Ben Clift, eds.,Where are National Capitalisms Now? New York: Palgrave.
Kawai, M. (2005). “East Asian Economic Regionalism: Progress and Challenges”, Journal of
Asian Economics, vol. 16, pp. 29-55.
Hanggi, H. (2006), “Interregionalism as a Multifaceted Phenomenon: In Search of a Typology”,
in H. Hanggi, R. Roloff & J. Rüland (eds). Interregionalism and International Relations. New
York: Routledge, 31-63.
Doctor, M. (2007). “Why Bother with Inter-Regionalism? Negotiations for a European UnionMercosur Agreement”, Journal of Common Market Studies, 45 (2), 281-314.
Aggarwal, V. & Kwei, E. (2006), “Asia-Pacific Economic Cooperation (APEC):
Transregionalism with a New Cause”, in. Hanggi, R. Roloff & J. Rüland (eds). Interregionalism
and International Relations. New York: Routledge, 31-63.
Post-War International Monetary System and the IMF; Recent Debates on
IMF Reform in the Age of Financial Globalization
Ravenhill, Chs 6, 7.
Derviş, Ch 5.
Stiglitz, Ch 8, 9.
Stiglitz, J. 2003. “ Capital Market Liberalization, Economic Growth and Instability”. World
Development. Vol. 38, No.8.
Ben Thirkell-White, ‘The International Financial Architecture and the Limits of Neo-liberal
Hegemony’, New Political Economy, Vol. 12, No. 1 (2007), pp. 19–41.
Jacqueline Best, ‘From the Top–Down: The New Financial Architecture and the Re-embedding
of Global Finance’, New Political Economy, Vol. 8, No. 3 (2003), pp. 363–84
Woods, N. 2006. “Understanding the Pathways through Financial Crises and the Impact of the
IMF: An Introduction”, Global Governance, Vol. 12, 373-393.
5
International Monetary Fund. 2003. “ Lessons from the Crisis in Argentina”. Report Prepared
by the Policy Development and Review Department, mimeo. Washington DC. The International
Monetary Fund.
Blejer, M. I. 2005. “Managing Argentina’s 2002 Crisis”, in T. Besley and R. Zagba eds.
Development Challenges in the 1990s. New York: Oxford University Press for the World Bank.
Helleiner, E. 2005. ‘The Strange Story of Bush and the Argentine Debt Crisis’ Third World
Quarterly, 26 (6): 951-969.
Gallo A. J.B. Staaegman, and J.W Steagall. 2006. “The Role of Political Institutions in the
Resolution of Economic Crises: The Case of Argentina: 2001-2005”. Oxford Development
Studies, Vol. 34. No.2.
Ito, T. 2007. “Asian Currency Crisis and International Monetary Fund, 10 Years Later: An
Overwiev” , Asian Economic Policy Review, ,Vol. 2, 16-49.
Woods, N. And D. Lombardi. 2006. “Uneven Patterns of Governance: How Developing
Countries are Represented in the IMF”, Review of International Political Economy, Vol. 13,
No.3.
Stiglitz, J. 2004. “Capital Market Liberalization, Globalization and the IMF”, Oxford Review of
Economic Policy, Vol. 20, No. 1, 57-71.
Lane, T. 2005. “Tensions in the Role of the IMF and Directions for Reform”, World Economics,
Vol. 6, No. 2, 47-66.
Bird, G. 2006. “Are We Heading for a Dollar Crisis”, World Economics, Vol. 7, No. 1, 159-174.
Thomas, M. A. 2007. “The Governance Bank”, International Affairs, Vol. 83, No. 4, 729-745.
Elson, A. 2007. “Reform of the IMF and World Bank”, World Economics, Vol. 8, No. 2, 65-95.
Weaver, C. & Leiteritz, R. 2005. “Our Poverty is a World Full of Dreams: Reforming the World
Bank”, Global Governance, 11, 369-388.
The Development Debate, the “Post-Washington Consensus” and the
Problem of Global Inequality
Ravenhill Chs 9, 11, 12.
Stiglitz, Chs 1, 2.
Held. D. 2006. “Reforming Global Governance: Apocalpse Soon or Reform!” New Political
Economy, Vol. 11, No.2.
Giddens, A., eds, 2001. The Global Third Way Debate. (chs. 24, 26, 27, 28).
6
Chang, Ha-Joon. 2003. “Kicking Away the Ladder: Infant Industry Protection in Historical
Perspective”, Oxford Development Studies, Vol. 31, No.1.
Öniş, Z. And F. Şenses. 2005. "Rethinking the Emerging Post-Washington Consensus: A
Critical Appraisal" Development and Change. Vol. 36, No.2.
Evans, P. 2005. “Neoliberalism as a Political Opportunity: Constraint and Innovation in
Contemporary Development Strategy” in K. Gallagher (ed). Putting Development First, New
York: Zed Books, 195-216.
Quibria, M. G. (2005), ‘Rethinking Development Effectiveness: Facts, Issues and Policies’,
World Economics, Vol. 6, No. 1 (January–March).
O’Hearn. 2000. “ Globalization, ‘New Tigers’ and the End of the Developmental State? The
Case of the Celtic Tiger”. Politics and Society, Vol. 28, No.1.
Mollo, M and A. Saad-Filho. 2006, “Neo-liberal Reform in Brazil ( 1994-2005) : Cardoso, Lula
and the Democratic Alternative”. New Political Economy, Vol.11, No.2.
Wade, R. (2004), “Is Globalization Reducing Poverty and Inequality”, World Development, 32
(4), 567-589.
Collier, P., and D. Dollar (2001), ‘Can the World Cut Poverty in Half? How Policy Reform and
Effective Aid Can Meet International Development Goals,’ World Development, 29:1787–802.
Milankovic, B. (2006) “Global Income Inequality – A Review”, World Economics, 7 (1), 131157.
Galbraith, J. 2007. “Global Inequality and Global Macro Economics” in D. Held and A. Kaya
(eds). Global Inequality. Cambridge: Polity Press: 148-176.
Bhaskar, V. & Gupta, B. 2007. “India’s Development in the Era of Growth”, Oxford Review of
Economic Policy, Vol. 23, No. 2, 135-142.
Basu, K. & Maertens, A. 2007. “The Pattern and Causes of Economic Growth in India”, Oxford
Review of Economic Policy, Vol. 23, No. 2, 143-167.
Wang, Y. & Hu, A. 2007. “Multiple Forces Driving China’s Economic Development: A New
Analytic Framework”, China and World Economy, vol. 13, No. 3, 103-120
Sengupta, R. & Ghosh, J. 2007. “Understanding the Extent and Evolution of Inequalities in
China” in Jomo K. S. & J. Baudot. Flat World, Big Gaps: Economic Liberalization,
Globalization, Poverty and Inequality. New York: Zed Books; 376-404.
Perspectives on Turkish Neoliberal Restructuring: Recent Financial Crises
and Post-Crisis Dynamics
7
Öniş, Z. and F. Şenses (2007) “Global Dynamics, Domestic Coalitions and A Reactive State:
Major Policy Shifts in Post-War Turkish Economic Development” METU Studies in
Development, vol. 34.
Öniş, Z. 2004. “ Turgut Özal and his Economic Legacy: Turkish NeoLiberalism in Critical
Perspective”. Middle Eastern Studies, Vol. 40, No.4.
Öniş, Z. and B. Rubin, eds., 2003. The Turkish Economy in Crisis. London: Routledge (esp.
Chapters 1 and 2 ).
Ü. Cizre Sakallıoğlu and E. Yeldan, “Politics, Society and Financial Liberalization:
Turkey in the 1990’s”, Development and Change, v. 31, 2000, pp. 481-508.
Akyüz, Y and K. Boratav. 2003.”The Making of the Turkish Financial Crises”. World
Development, Vol. 31, No.9.
Cizre, Ü and Yeldan, E. 2005. ‘The Turkish Encounter with Neo-liberalism: Economics and
Politics in the 2000/2001 Crises’, Review of International Political Economy, 12(3):
Derviş, K. 2004. “Returning from the Brink: Turkey’s Efforts at Systemic Change and Structural
Reform”, in T. Besley and R. Zagba eds. Development Challenges in the 1990s. New York:
Oxford University Press for the World Bank.
Öniş, Z. and E.Alper. 2004. “ The Turkish Banking System,Financial Crises and the IMF in the
Age of Capital Account Liberalization: A Political Economy Perspective”. New Perspectives on
Turkey, 30.
Altuğ, S. and Filiztekin,A. 2006. The Turkish Economy: The Real Economy, Corporate
Governance and Reform, London: Routledge.
Bağımsız Sosyal Bilimciler. 2006. IMF Gözetiminde On Uzun Yıl, 1998-2008. Farklı
Hükümetler Tek Siyaset. Available at http://bagimsizsosyalbilimciler.org/.
Berument, H., N.Doğan, and A. Tansel (2005). “Economic Performance and Unemployment:
Evidence from an Emerging Economy – Turkey” Institute for the Study of Labor (IZA),
Research Paper Series.
Turkey on the Interface of Globalization and Regionalization
Kemal Derviş et al. 2004. Çağdaş Türkiye’nin Avrupa Dönüşümü. İstanbul: Doğan Yayıncılık.
Uğur, M.. 2004. “ Economic Mismanagement and Turkey’s Troubled Relations with the EU: Is
there a Link?” in M. Uğur and N. Canefe, eds., Turkey and European Integration. Accession
Prospects and Issues. London: Routledge.
Eder, M. 2004. “ Populism as a Barrier to Entry to integration with the EU: Rethinking the
Copenhagen Criteria.”. In M. Uğur and N. Canefe, eds..
8
Derviş, K. et. al. 2004. “Turkey and the EU Budget: Prospects and Issues”. Centre for European
Policy Studies Working Papers, No. 6, August
Dutz, M., M. Us and K. Yılmaz. 2004. “Turkey’s Foreign Direct Investment Challenges:
Competition, the Rule of Law and the EU Accession” in S. Togan and B. Hoekman eds. Turkey,
Economic Reform and Accession to the European Union. New York: Oxford University Press.
Derviş, K. et al. 2004. “Relative Income Growth and Convergence”. Centre for European Policy
Studies, Brussels EU-Turkey Working Papers, No. 8, September.
Aliboni, R. (2006). “Globalization and the Wider Black Sea Area: Interaction with the European
Union, Eastern Mediterranean and the Middle East”, Southeast European and Black Sea Studies,
6:2, pp. 157-168.
Sezer, D. (2000). “Turkish-Russian Relations: The Challenges of Reconciling Geopolitical
Competition with Economic Partnership”, Turkish Studies, 1:1, pp.59- 82.
ACADEMIC HONESTY
Honesty and trust are important to us all as individuals. Students and faculty adhere to the
following principles of academic honesty at Koc University
1.
Individual accountability for all individual work, written or oral. Copying from others
or providing answers or information, written or oral, to others is cheating.
2.
Providing proper acknowledgment of the original author. Copying from another
student’s paper or from another text without acknowledgment is plagiarism.
3.
Study or project group activity is effective and authorized teamwork. Unauthorized
help from another person or having someone else to write one’s paper or assignment is
collusion.
Cheating, plagiarism and collusion are serious offences resulting in an F grade and disciplinary
action
9