Open economy politics: A critical review

Open economy politics: A critical review

An emergent paradigm, referred to as Open Economy Politics (OEP), now structures and guides research among many scholars. This essay sketches the general contours of the paradigm. Scientific accumulation is, in my view, the potential and great benefit of a self-conscious understanding of OEP as a single, unifying paradigm. The essay also provides a sympathetic critique of OEP and shows how the ...

Cultural economy: a critical review

This article reviews work on ‘cultural economy’, particularly from within geography, and from other disciplines, where there are links to overtly geographical debates. We seek to clarify different interpretations of the term and to steer a course through this multivalency to suggest productive new research agendas. We review and critique work on cultural economy that represents a relatively str...

The politics of imagination: keeping open and critical

A simple phrase takes its meaning from a given context, and already makes its appeal to another one in which it will be understood; but, of course, to be understood it has to transform the context in which it is inscribed. As a result, this appeal, this promise of the future, will necessarily open up the production of a new context, wherever it may happen. The future is not present, but there i...

Politics and the Macro Economy

Capital Accumulation and Convergence in a Small Open Economy

 Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....