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Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the "world system".
Economic interdependence. Economic interdependence is the mutual dependence of the participants in an economic system who trade in order to obtain the products they cannot produce efficiently for themselves. Such trading relationships require that the behavior of a participant affects its trading partners and it would be costly to rupture their ...
The Global North and the Global South are often defined in terms of their differing levels of wealth, economic development, income inequality, and strength of democracy, as well as by their political freedom and economic freedom, as defined by a variety of freedom indices. Countries of the Global North tend to be wealthier, and capable of ...
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services. [ 1][ 2] In ...
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...
v. t. e. World-systems theory (also known as world-systems analysis or the world-systems perspective) [ 3] is a multidisciplinary approach to world history and social change which emphasizes the world-system (and not nation states) as the primary (but not exclusive) unit of social analysis. [ 3] World-systems theorists argue that their theory ...
Complex interdependence. Complex interdependence in international relations and international political economy is a concept put forth by Robert Keohane and Joseph Nye in the 1970s to describe the emerging nature of the global political economy. [ 1][ 2] The concept entails that relations between states are becoming increasingly deep and complex.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. [1] A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity.