Foundations and Conceptual Framework of International Political Economy

This paper deals with the theoretical foundations and conceptual framework of International Political Economy. The main question is about the interaction of political and economic factors leading to the formation and development of International Political Economy. Different variables during the Cold War including the rise of international economic interdependence، collapse of the Bretton Woods system، emergence of new protectionism، the West- East détente، and the 1970s energy crisis contributed to the formation of IPE as a distinct academic discipline. The three most popular schools of IPE are liberalism، Realism، and Marxism arguing about the interaction of political and economic factors in international relations. The American and Britain schools of IPE represent two conflicting worldviews about the legitimate study of IPE. This academic discipline has been dominated by a set of five important issues: international trade، international finance، multinational corporations، North- South relations، and hegemony. IPE studies mutual interactions between political and economic factors in all the subjects mentioned above.