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      Continuities and Change in IPE at the Start of the Twenty-first Century

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          Abstract

          This chapter reviews changes and continuities for the development of International Political Economy (IPE) in the twenty-first century. We highlight four themes, which authors in this handbook subsequently explore. These include necessary adaptations of IPE theory in response to changing global conditions; how global reordering affects global economic governance, production, and power relations; the diverse global crises to which actors must respond, often under intense time pressure; and a variety of emerging IPE issues on which we need new and/or more attention from IPE scholars and students. We conclude by identifying five trends which we argue would help enhance IPE understandings, ensure the policy relevance of our discipline, and prepare our students in the coming decade.

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          From millennium development goals to sustainable development goals.

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            Rising powers and global governance: negotiating change in a resilient status quo

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              Putting the Political Back into Political Economy by Bringing the State Back in Yet Again

              Dominant theoretical approaches in political economy today, whether they posit convergence to neoliberal capitalism, binary divergence of capitalisms, or tripartite differentiation of financial governance, downplay the importance of state action. Their methodological approaches, rational choice and historical institutionalism, tend to reinforce their substantive theories either by disaggregating the state into its historical institutional components or by focusing on the strategic actions of its rational actors. This article argues that by not taking state action seriously, they are unable to explain the differences in degree and kind of countries' neoliberal reforms. For this, it is necessary to bring the state back in and to put the political back into political economy not just in terms of political economic institutions but also in terms of policies, polity, and politics. To explore the political in all its variety, however, the article demonstrates that at least one more methodological approach, discursive institutionalism, is also needed. This approach, by taking the role of ideas and discourse seriously, brings political actors as sentient beings back in. This in turn also enables the author to explain the dynamics of neoliberal reform in political economy.
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                Author and article information

                Contributors
                +11(343) 883-1131 , Timothy.Shaw@umb.edu
                laura.mahrenbach@tum.de
                +91919819951208 , africamumbai@gmail.com
                +61610737353766 , yi-chong.xu@griffith.edu.au
                Journal
                978-1-137-45443-0
                10.1057/978-1-137-45443-0
                The Palgrave Handbook of Contemporary International Political Economy
                The Palgrave Handbook of Contemporary International Political Economy
                978-1-137-45442-3
                978-1-137-45443-0
                20 December 2018
                2019
                : 1-23
                Affiliations
                [1 ]GRID grid.28046.38, ISNI 0000 0001 2182 2255, University of Ottawa, ; Ottawa, ON, Canada
                [2 ]GRID grid.6936.a, ISNI 0000000123222966, Bavarian School of Public Policy, , Technical University of Munich, ; Munich, Germany
                [3 ]GRID grid.44871.3e, ISNI 0000 0001 0668 0201, Centre for African Studies, , University of Mumbai, ; Mumbai, India
                [4 ]GRID grid.1022.1, ISNI 0000 0004 0437 5432, School of Government and International Relations, , Griffith University, ; Nathan, QLD Australia
                [5 ]GRID grid.6936.a, ISNI 0000000123222966, Bavarian School of Public Policy, , Technical University of Munich, ; Munich, Germany
                [6 ]GRID grid.266685.9, ISNI 0000 0004 0386 3207, Global Governance and Human Security, , University of Massachusetts Boston, ; Boston, MA USA
                [7 ]GRID grid.34428.39, ISNI 0000 0004 1936 893X, Carleton University, ; Ottawa, ON Canada
                [8 ]GRID grid.28046.38, ISNI 0000 0001 2182 2255, University of Ottawa, ; Ottawa, ON Canada
                Article
                1
                10.1057/978-1-137-45443-0_1
                7123226
                0308b700-2935-4c1a-babe-68d505c0f259
                © The Author(s) 2019

                This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.

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