POL436 Minnesota State University Political Economy Study Guide Questions

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POL436

Minnesota State University Mankato

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POL 436 International Political Economy Exam 2 Study Guide Draft Version 1 (more questions will be addded) Hoekman, Bernard M., and Michel M. Kostecki. Political Economy of the World Trading System, Oxford University Press, Incorporated, 2010. https://ebookcentral-proquest-com.ezproxy.mnsu.edu/lib/mnsu/detail.action?docID=1635563 Chapter 1. pp. 7-34. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 How did the volume of trade increase between 1950 and 2006? As of 2006, how low was the average uniform tariff equivalent of OECD merchandise trade policies? What doe a substantial proportion of this global trade in manufactures, especially between OECD countries, comprises? The increasing fragmentation or splintering of the production chain has been driven in part by what? Which developing region has relied on trade the most intensively as part of its development strategy? How may opening may also increase the variety of exports? No country has developed without what? What was a major factor impeding more rapid progress in the Doha Round negotiations? What have frequently been used to overcome barriers to trade? During 1862–7, what did France do with virtually every major trading power in Europe (with the exception of Russia) as well as with the United States? After the First World War, what trade policies became the norm? At the end of the Second World War, what need did statesmen such as Presidents Roosevelt and Truman and, particularly, Cordell Hull, the US Secretary of State, perceive? Multilateral cooperation among sovereign nations often occurs through what? In any country the structure of protection at any point in time is the result of what? What is the objective of mercantilist policy? Towards what activities does trade liberalization bring about a reallocation of resources? Chapter 1, pp. 46-54 1 2 3 4 5 With the establishment of the WTO, what changed to GATT? Starting in the mid-1960s, how did recurring rounds of MTNs gradually expand the scope of the GATT? Why is agreeing on the elimination or reduction of NTMs (nontariff measures) more difficult than negotiating downward the levels of tariffs? The Uruguay Round negotiations were a response to what? Many of the trade disputes and the recourse to NTMs that emerged in the 1980s were in part a reflection of what? Chapter 4 1 2 3 4 5 6 7 8 What in the trade world is a key factor that affects both process and outcomes? At the Singapore ministerial meeting. What did high-income countries seek to put on the WTO agenda? What did the Seattle ministerial turn out to be? Developing countries saw a new round of trade talks (Doha_) as an opportunity to do what? Doha differed from previous MTNs in that smaller and poorer countries were …? What divide in the area of agriculture was deep? What induced farmers in the EU and the US to allocate more output to the production of bio-fuels? What was a noteworthy feature of the trade policy responses to the financial crisis? Skim from p. 147 to p. 149. Restart at p. 150 9 10 At the 1996 Singapore ministerial conference what did a number of industrialized nations push for? What do even governments that seek to maximize national income have to take into account? Skip pp. 153-156. 11 12 13 14 15 What is a possible way to circumvent free-rider problems and increase negotiating leverage? For small countries, what is the primary attraction of coalition formation? What interests play a major role in the design and enforcement of trade rules? At the Doha Round, who were the most effective business pressure groups? What is a fundamental concept applying to WTO negotiations? Skip pp. 163-177. Restart at p. 178. 16 17 Participants in MTNs may spend less time negotiating with trading partners than they do . . . What has the US made extensive use of before and during MTNs? More questions will be added.
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Running head: POLITICAL ECONOMY

Political Economy
Name
Institutional Affiliations

POLITICAL ECONOMY

2
Political Economy
Chapter 1: pp. 7 - 34

1. How did the volume of trade increase between 1950 and 2006?

In the 1950s, tariffs on imported goods and services were in the range of between 2030%, which were complemented by the existence of nontariff barriers. Most developing
countries had high barriers to trade between 1950 and 1980. However with improvement
in trade policies such as duty-free goods and services and technological advancement
such as in the packaging sector, online businesses, and shipment industries, the value of
global trade has risen from $1 trillion in the 1950s to $15 trillion in 2006.
2. As of 2006, how low was the average uniform tariff equivalent of OECD

merchandise trade policies?

For OECD products trade policies, the uniform tariff fell to 4%, showing the safeguard of
agricultural products.
3. What does a substantial proportion of this global trade in manufactures, especially

between OECD countries, comprises?

It includes intra-industry trade, which entails the exchange of differentiated, similar
products. The intra-industry trade for OECD countries comprises ratios above 60%.
4. The increasing fragmentation or splintering of the production chain has been driven

in part by what?

POLITICAL ECONOMY

3

The increased splintering of the chain of production has been facilitated by the change in
the structure of the global economy due to technological advancement and global trade
policy reforms.
5. Which developing region has relied on trade the most intensively as part of its

development stra...


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