Political Economy

Question 1

what is Iran’s political economy

Answer 1

mixed: centrally planned with a large public sector alongside smaller private and cooperative sectors. Heavy reliance on oil revenues, NIOC

Question 2

what is Mexico’s political economy

Answer 2

developing mixed-market with heavy reliance on trade relations with and exports to the US, it has a large informal sector (street vendors). PEMEX = oil = big moneys

Question 3

what is Nigeria’s political economy

Answer 3

mixed emerging market with private enterprises and government involvement and a large reliance on oil revenues and a significant informal sector

Question 4

What is the UK’s political economy?

Answer 4

Highly developed social market economy. Free markets but state control: social safety nets (education, healthcare)

Question 5

What is China’s political economy?

Answer 5

State capitalism. Billionaire class. State controlled five year plans, state owned enterprises (SOEs).

Question 6

What is Russia’s political economy?

Answer 6

Mixed. Oil reliance, heavy state involvement. Import substitution, “national champions” (state controlled companies in strategic sectors)