IPE (International political economies) Essay Example | Topics and Well Written Essays - 1500 words

IPE (International political economies) - Essay Example Frieden and David (31) argue that IPE is a maturing interdiscipline because of the great attempts towards solving the political and economic issues across the globe. The IPE field has undergone a significant transformation over the past thirty years. Hence, the IPE has become a popular area of study of relations of politics and economics in the global arena. Even though there are considerable variations between disciplines, the political and economic analysts are uninformed of corresponding advancement in the other arenas, but IPE is swiftly evolving as a true interdisciplinary. International Political Economy is a maturing Interdiscipline because the international trade now counts for about 38 percent of GDP (Gross Domestic Product). Imports and exports comprise 49 percent of the total national output in developing nations. The flow of FDI (Foreign Direct Investment) has doubled relative to GDP for the past two decades. According to Frieden and David (96), globalization now permits corporation, entrepreneurs and states to trade effective across the globe in a clear way, more than ever. The IPE arena is considerably maturing because of increased globalization. The political scientists have now started identifying themselves as the International political economists, but OEP( Open Economy Politics) bridges the political and economic disciplines; thus providing a vehicle for synthesizing the work performed in both arenas. Evolution of IPE, Interdisciplinary Origins and its relationship with IR, Comparative Politics and Economics IPE emerged as the international economy in the earlier 1960s and sparkle interests, in the field of political international economy. It emerged in the political fields and drew varied sources such as economics, history and the international relation (IR); thus manifesting itself as a disciplinary that remains up to date (Cohen 24). However, after the Post War, the IPE emerged and since then, varied changes have taken place. The end of th e Cold War contributed to the economic liberation and the emergence of IPE as a discipline that focuses on political, as well as economic issues across the globe. This was the period when many states signed allies that provided a framework through which the world economy could function. Although, the main allies contributed to economic conflicts, earlier political leaders and the federal government introduced polices that aimed to maintain security of industries. The government laid emphasis on security and agreement made in the international trade offered the state political glue that joined the global economy together. Moreover, during the year 1970s, the IPE emerged as deviating international study approach in the political and economic arena. However, it started emerging as an interdisciplinary approach during the year 1973 after the emergence of the world oil crisis (Hall 272). Thus, it alerted may scholars especially in the United States on the significant changes to economic foundation of the global order. Therefore, earlier scholar started laying more emphasis on the IR and the related disciplines in politics, diplomatic history, economic, law and order. The IPE proposed a union in the political and economic field by drawing their views more on sociology and economic history. Some scholar such as Karl Marxist protest against the historical sociology and emphasized on the significant