international political economy & international cooperation/law

Question 1

what is mercantilism?

Answer 1

theory that wealth and power are preserved via increased exports & precious metals

econ wealth = state power

problems: depended on colonialism, relied on gold standard, and fueled link between trade and war

Question 2

what is protectionism?

Answer 2

shielding domestic industries from foreign competition

Question 3

what are tarrifs?

Answer 3

taxes paid on imported goods

AMERICAN IMPORTERES have the biggest csot

Question 4

what are quotas?

Answer 4

limits on the # of imported foreign products

Question 5

what is early us trade policy?

Answer 5

high tarifs to protect new manufacturers, investment in inventions

Question 6

what idea follows the begining of free trade (1776)?

Answer 6

because each state differs in ability to produce specific products, countries should trade

Question 7

what is the heckscher-onlin (h-o) theory?

Answer 7

trade depends on endowments (land, labor, capital)

Question 8

what is a regime?

Answer 8

international rules or procedues, usually formalized through an organization

Question 9

what is the international trade organization (1947)?

Answer 9

lower trade barriers & investment land labor standards

Question 10

what is the general agreement on tarrifs and trade (gatt)?

Answer 10

8 negotiating rounds to reduce barriers with non-discrimination, protection via tarrifs, and the escape clause

Question 11

what are characteristics of the world trade organization (wto)?

Answer 11

• focus in trade in goods, services, intellectual property
• periodic review of member states
• formalized dispute settlement with power to sanction

Question 12

what are the 3 conditions of international cooperation?

Answer 12

1. interdependence between actors (one unhappy, all suffer)
2. cooperation problem because divergent preferences but overlapping interests
3. behavioral adjustment -> compromise

Question 13

what does realism say about international cooperation?

Answer 13

cooperation difficult because of relative gains problem and prisoner’s dilemma

Question 14

what does neoliberal institutionalism say about international cooperation?

Answer 14

cooperation is possible because of continuous interactions

self interest can lead states to coop through IOs

Question 15

what does liberal theory say about international cooperation?

Answer 15

ideas, interests, and political institutions within shape influence attitude toward cooperation

Question 16

what does constructivism say about international cooperation?

Answer 16

cooperation may be difficult depending on states’ identites, nature of shared understanding, and norms

Question 17

what is international law?

Answer 17

the body of rules and norms governing interactions between states, ios, and individuals

Question 18

what are the 2 sources of international law?

Answer 18

1. customs (hegemon or group solves a problem in a particular way, more
2. treaties (states negotiate and adopt writtena greements stipulating standards of behavior)

Question 19

how is international law enforced?

Answer 19

1. self-interests
2. norms and ethics
3. market enforcement
4. vertical, top-down, bottom-up pressure

Question 20

how do global banks use the fatf?

Answer 20

to change how they alloccate resources to listed countries