Varieties of capitalism and the Estonian economy: Institutions,growth and crisis in a liberal market economy

This article examines Estonia's economic institutions, performance and vulnerability to the global economic crisis in the context of the varieties of capitalism framework. It shows that Estonia shares many characteristics of a liberal market economy, but that there are also some features which do not fit the classical model, notably its corporate governance institutions. It also suggests that the varieties of capitalism framework can account for key features of Estonia's economic performance, including its growth trajectory and adjustment to the global financial crisis. The article also reflects on the broader significance of these findings for understanding post-communist capitalism.     

Marketing Development: celebrity politics and the ‘new’ development advocacy

Politics and culture, once considered separate, are now fusing in new and interesting ways. Political activism is becoming popular, particularly through the expansion of a new kind of development advocacy made highly visible through celebrity involvement. Theorists of globalisation celebrate the democratisation of civil society made possible by new information and communications technology; critical theorists will note the various ways in which ict ambivalently makes the contradictions in global capitalism more obvious and has become the means by which globalisation is contested. Some metropolitan governments have sought to capitalise on this new knowledge economy by making knowledge for development part of their strategies to produce ‘global citizens’ necessary for the global economy. This paper examines the linkages between celebrity and government-funded development advocacy in Australia, which comprise the introduction of free market principles to form a marketing campaign for neoliberal globalisation.     

Tracing connections between comparative politics and globalisation

This article focuses on connections between globalisation and comparative political analysis. Traditionally the latter is concerned with domestic political actors, especially states. Globalisation, on the other hand, emphasises the variable significance of a variety of border-crossing, including transnational, actors. I argue that since the end of the Cold War five key developments—a large number of new countries; widespread political changes, especially in the Third World; global entrenchment of capitalism; increasing regional economic integration; and the growth of transnational civil society—collectively underline the importance of globalisation for comparative political analysis. It is now difficult plausibly to argue that what goes on politically within countries is unaffected by globalisation. The article is structured as follows. First, I trace the traditional (domestic) concerns of comparative political analysis and argue that, because it neglects the impact of globalisation, it is analytically inadequate. Second, I examine four key aspects of globalisation: technological, political, economic and cultural globalisation, and suggest how they influence comparative political analysis. Third, to assess differing views of how globalisation affects domestic politicalÐeconomic terrains, I examine competing arguments of the hyper-globalisationist, globalisation sceptic and structural dependency approaches.     

Globalisation masculinities,empire building and forced prostitution: a critical analysis of the gendered impact of the neoliberal economic agenda in post-invasion/occupation Iraq

Adopting a transnational feminist lens and using a political economy approach, this article addresses both the direct and indirect consequences of the 2003 war in Iraq, specifically the impact on civilian women. Pre-war security and gender relations in Iraq will be compared with the situation post-invasion/occupation. The article examines the globalised processes of capitalism, neoliberalism and neo-colonialism and their impact on the political, social and economic infrastructure in Iraq. Particular attention will be paid to illicit and informal economies: coping, combat and criminal. The 2003 Iraq war was fought using masculinities of empire, post-colonialism and neoliberalism. Using the example of forced prostitution, the article will argue that these globalisation masculinities – specifically the privatisation agenda of the West and its illegal economic occupation – have resulted in women either being forced into the illicit (coping) economy as a means of survival, or trafficked for sexual slavery by profit-seeking criminal networks who exploit the informal economy in a post-invasion/occupation Iraq.     

China’s road from socialism to global capitalism

Abstract

China’s engagement with global capitalism is driven by the emergence of a statist and private transnational capitalist class. Nevertheless, aspects of China’s foreign policy from the Maoist period still echo today. Consequently, elements of third world solidarity and opposition to Western domination continue to exist as China’s past is redefined to further its transnational strategies in Latin America and the US. The main Chinese investments in South America have been in energy and infrastructure among the left lead countries of the Pink Tide. In the US, Chinese capital has grown despite heated political rhetoric. This paper will examine how economic ties in South and North America reflect past and present conditions, and if China has initiated a non-Western globalisation.     

Sovereignty under siege: Globalisation and the state in Southeast Asia

It is commonly assumed that processes associated with globalisation are affecting the sovereignty of states. While the extent and implications of such processes may be debatable, globalisation presents even the most powerful states with new challenges to their autonomy and authority. In Southeast Asia, where the principle of sovereignty has been a crucial and jealously guarded part of regional governance structures, globalisation is an especially acute challenge for national governments. This paper examines the theoretical and policy implications of globalisation in Southeast Asia and argues that not only is globalisation threatening to unravel existing governmental practices in Southeast Asia, but that as a consequence we also need to re-think the way we understand core theoretical principles like sovereignty.     

Attempting developmental regionalism through afta : The domestic sources of regional governance

The asean Free Trade Area ( afta ) has conventionally been explained as a project of open regionalism adopted by the asean member governments to attract foreign direct investment to the region through the 'carrot' of the single regional market. Yet, when the same governments incorporated an investment liberalisation component programme within the afta project in 1998, they opted to accord full national treatment and market access privileges to foreign (non- asean ) investors at least 10 years later than to domestic or asean national investors. Although member governments removed this particular discriminatory clause in September 2001, the fact that a distinction between foreign and domestic investors was adopted and maintained for a three-year period is puzzling given afta 's acknowledged role as a magnet for foreign investment. Although afta is clearly a response to the pressures of globalisation, the available theoretical models of the relationship between globalisation and regionalism are unable to account for this empirical anomaly because they do not make a distinction between foreign-owned and domestic-owned capital. This paper advances the notion of 'developmental regionalism' as a way to incorporate domestic-owned capital in analysing the globalisation-regionalism relationship, which allows for a more robust explanation of the empirical puzzle outlined above.     

The capitalist conjuncture: over-accumulation,financial crises,and the retreat from globalisation

This article argues that the key crisis that has overtaken today's global economy is the classical capitalist crisis of over-accumulation. Reaganism and structural adjustment were efforts to overcome this crisis in the 1980s, with little success, followed by globalisation in the 1990s. The Clinton administration embraced globalisation as the ‘Grand Strategy’ of the USA, its two key prongs being the accelerated integration of markets and production by transnational corporations and the creation of a multilateral system of global governance, the pillars of which were the World Trade Organization, the International Monetary Fund and the World Bank. The goal of creating a functionally integrated global economy, however, stalled, and the multilateral system began to unravel, thanks among other things to the multiple crises created by the globalisation of finance, which was the main trend of the period. In response partly to these crises, partly to increasing competition with traditionally subservient centre economies, and partly to political resistance in the South, Washington under the Bush administration has retreated from the globalist project, adopting a nationalist strategy consisting of disciplining the South through unilateralist military adventures, reverting to methods of primitive accumulation in exploiting the developing world, and making other centre economies bear the brunt of global adjustments necessitated by the crisis of over-accumulation.     

The Yadana syndrome? Big oil and principles of corporate engagement in myanmar

In debates about economic globalisation, the case for leading corporations to engage with some of the world's most desperate development challenges is increasingly heard. However, it remains an open question whether investment should take place in extreme contexts. On the one hand, foreign capitalist involvement in extractive industries has long been seen as highly exploitative. Should such activity now be encouraged? On the other, all forms of corporate engagement with regimes that commit gross human rights violations are widely viewed as thoroughly unprincipled. Should this activity now be endorsed? The article tackles these issues by examining the controversial involvement of Western oil companies in Myanmar's Yadana gas project. It addresses two main questions. First, is that involvement itself to be welcomed? Second, from this experience, can wider lessons about global corporate citizenship be drawn? The argument is that it is not possible to reach an overall evaluation of the Yadana project. However, principles of responsible cross‐border corporate engagement can be derived from it.¹     

On the reliability of Chinese economic data

China is no exception to the rule that economic data for developing countries suffer from substantial margins of error. R. P. Sinha, however, exaggerates the shortcomings of Chinese economic data. A brief review of evidence regarding statistical capacity and statistical veracity supports the view that economic data emanating from the People's Republic represent the fruits of Peking's increasingly effective efforts to monitor China's economy. For China, as for India, Meiji Japan or pre‐industrial Europe, careful empirical research can and does produce results which are not guesses, but estimates of actual economic magnitudes.     

Democratisation and the prospects for participatory regionalism in Southeast Asia

This article explores the impact of democratic transitions in Southeast Asia on regional co-operation, and the relationship between this process and the development of a non-official regionalism. Until now, regionalism in Southeast Asia has been essentially elite-centred and politically illiberal. The emergence of the Association of Southeast Asian Nations was founded upon the common desire of its members, which had by then retreated significantly from their postcolonial experiments in liberal democracy, to ensure regime survival. This orientation was further institutionalised by asean 's doctrine of non-interference, which helped to shield its members from outside pressures towards democratisation. But with democratisation in the Philippines, Thailand and more recently Indonesia, the asean model of elite-centric regional socialisation has been challenged. The civil society in the region demands greater openness in Southeast Asian regionalism. The article proposes a conceptual framework for analysing the relationship between democratisation and regionalism, with the key argument being that the displacement of traditional patterns of regional elite socialisation has been offset by potential gains such as advances in regional conflict management, transparency and rule-based interactions. But the realisation of a more 'participatory regionalism' in Southeast Asia faces a number of barriers, including obstacles to further democratisation, the continued salience of the non-interference doctrine and the diminished space for civil society in the wake of the 11 September terrorist attacks.     

Global Capitalism and the Transformation of State Socialism

The article outlines the footprint of international economic interests under state socialism, and considers in more detail the economic integration of the postcommunist countries into the world system in the post-1989 period of the building of capitalism. The focus of the article is on the extent of economic globalization of countries and their economic corporations. It is contended that the globalization of capitalist companies and the direct role of global economic forces had little importance under state socialism. Since 1989, policy in the former state socialist countries has been geared to “joining” the world system, optimistically its core. Important differences have developed between the postsocialist states with respect to economic penetration and exposure to the world market. The outcomes have not fulfilled the expectations of early advocates of transformation and entry to the world economy. Although the new member states of the European Union have entered the world economy as formal members of the “core,” they are not economically equal to the dominant “old” members of the EU. In all the postcommunist countries, there is an absence of large scale global companies, of comparable levels of innovation, research and development. Russia is a resources rich country, a “hybrid” social formation containing elements of state economic control, national capitalism, and global capitalism. I conclude that the semi periphery is not a transient category in the world economy; it has potential for persistence and renewal.     

Before Seattle: The historical roots of the current movement against corporate-led globalisation

The purpose of this article is to enrich the understanding of the precursors to today's global citizen movement against corporate-led globalisation and to draw on that history for its relevance to the contemporary period and movement. In doing this, we provide snapshots of three dynamic waves of economic integration that provoked cross-border resistance: 1) the period of European colonialism, with case studies of the anti-slave trade and the international workers' movements; 2) the early post-World War II period (1940s-60s), when a vibrant debate erupted about how developing countries should relate to the world economy; and 3) the 1970s, when Southern governments banded together to pose alternative rules and institutions, and when popular resistance to different aspects of economic integration spread in many nations.     

Globalising Russia? The neoliberal/ nationalist two-step and the Russification of the West

This paper argues that the major ideological dynamic of the post-cold war era is the conflictive complicity of neoliberalism and various authoritarian and racist nationalisms. This is nowhere more apparent than in post-Soviet Russia. Indeed, far from being 'exceptional', contemporary Russia actually provides an exemplary instance of where the neoliberal road to the market is really taking a great number of countries - in the first instance, the debt-ridden countries of the so-called 'Third World'. But perhaps the lessons of Russia's experience extend somewhat further. Might it not be the case that, in an epoch in which IMF-style 'structural adjustment' policies are extended to all and sundry, those pathologies which at first seemed the exclusive preserve of 'backward nations', are coming increasingly to install themselves in the very heartlands of the 'West'? If this describes an important aspect of the historical process today, it is a process that has an additional, often neglected, negative condition of possibility: the more-or-less comprehensive defeat of the Left world-wide: the defeat, in other words, of progressive anti-capitalist models of modernisation and development. Any viable challenge to neoliberal globalisation and racist nationalism will therefore depend, to begin with, on an accurate diagnosis of that defeat. Here the case of Russia is once again significant, above all for what Russian history dramatises, especially over the past decade, about the 'subjective factor' in political and social change. My exploration of these issues is pursued here with reference to the recent impressive account of globalisation advanced by Russian political scientist Boris Kagarlitsky. However, the mismatch in Russia between the huge scale of the recent social catastrophe and the small size of the popular protest points to what Kagarlitsky's account misses. To begin to advance an alternative to the neoliberal/nationalist two-step, to disarticulate a progressive response to neoliberal globalisation from racist nationalist responses, it will be necessary to develop a more careful relationship to another two-step, that of Marxism/'postmodern identity politics'. We can make a start in this respect by foregrounding the psychoanalytic dimension of fantasy.     

Crony capitalism in the Palestinian Authority: a deal among friends

Abstract

This article interrogates the multifaceted political–economic networks entrenched within the multiple structures of the West Bank-based Palestinian Authority (PA). The main argument of this article is that crony capitalism is a defining feature of the PA’s relations with a handful of capitalists and business groups. The demonstration of this argument is exhibited through the large-scale public and private monopolistic practices in strategic sectors of the Palestinian economy, which function within the framework of Israel’s settler-colonial reality and the persistent patterns of international aid to the occupied West Bank. While acknowledging the existence of cronyism as a feature of the capitalist system in its diverse typologies, crony capitalism may be more pronounced in situations characterised by political uncertainty, whereby political–business collusion strategizes the expansion of neo-patrimonial networks and rent-seeking opportunities as a meta-mechanism for social control and political stabilisation. In the Occupied Palestinian Territories, crony capitalism was developed as part of the political allegiances and economic alliances that underpin the structures created by the Oslo process, which are fostered by Israeli policies and the international donor community to maintain the cohesiveness of the PA regime.     

Remapping development in light of globalisation: From a territorial to a social cartography

This article assesses the state of development studies in the wake of the 'impasse' that the field reached in the 1980s and suggests that the way forward is to 'deterritorialise' the concept of development. The first part critically assesses recent new perspectives and middle-range theories and focuses in particular on neoliberal and institutional approaches as hegemonic discourses. The myriad of new approaches offers limited and competing explanations for social change in the current epoch. The second part argues that globalisation, by modifying the reference points of macrosocial analysis, is responsible for development studies' paradigmatic quagmire. A sociology of national development is no longer tenable. The way out of the 'impasse' is to break with nation-state centred analysis by reconsidering the relationship between space and development and by reconceiving development based not on territory but on transnational social groups. Drawing on critical geographies and recent political economy theories of flexible accumulation and globalisation, it suggests that transnationalised labour markets exhibit an increasing heterogeneity across borders and that differentiated participation in these transnational labour markets in each locale comes to determine social development. The article emphasises the political nature of development theory and calls for a critical globalisation studies.     

The spaces of economic crisis: Asia and the reconfiguration of neo-Marxist crisis theory

Neo-Weberian and Marxist theories of crisis have typically been built around analysis of crisis tendencies in a single industrially developed national economy. While neo-Marxist theories of development have noted various implications of analyses that take seriously the specificities of capitalism in developing countries, there is somewhat less work from neo-Marxist perspectives on theories of crisis. The economic crisis that hit Asia in 1997 has important transnational and subnational dimensions that invite further elaboration of such a neo-Marxist perspective. This article engages such elaboration through critical reconfiguration of Samir Amin’s core-periphery spatial ontology and deployment of this reconfigured ontology to explain specific features of the uneven development of the Asian crisis. Jim Glassman is assistant professor in the Department of Geography at the University of British Columbia. His interests are in state theory and the political economy of development in newly industrializing countries of Southeast Asia. He has conducted previous research on industrial development in Thailand, as well as on the economic crisis and structural adjustment in Thailand, South Korea, and Indonesia. His current research focuses on populist and nationalist political reactions to the Asian economic crisis. An earlier version of this article was presented at the Global Economic Geography Conference in Singapore, December 1999. The author would like to thank participants in that conference, along with Ruth Berins Collier, Eric Sheppard, and two anonymous SCID reviewers for valuable comments and criticisms. Some of the research for the article was undertaken with the assistance of an Izaak Walton Killam Postdoctoral Fellowship from the Department of Geography at the University of British Columbia.     

Internationalisation,global capitalism and the integration of Iran

Abstract

There is a common tendency to observe a process of homogenisation when the current international structure is analysed. However, the globalisation process embraces heterogeneities and contradictions stemming from the integration of different states into a single global structure. This article explores the role and motivations of domestic social classes in creating variations in the form of integration of their states into the global whole. It takes one of the odd cases at the centre of inquiry and particularly concentrates on the emergence of alternative forms to the neoliberal globalisation in the process of Iran’s integration into the global capitalism. The accumulation strategies adopted by the dominant class factions in Iran are investigated in order to reveal their dialectical relationship with the international capitalist structure. Their role in the international political economy of Iran demonstrates how social agents through their strategic activities create variations in the forms of integration into the global capitalism. The article compares the Iranian case to the varieties of integration of lately capitalised but not peripherised BRICS (Brazil, Russia, India, China and South Africa) states. This aims to reveal that whilst these countries have truly integrated into the global capitalist system, the internationalisation of their states contradicts the accumulation strategies of their dominant classes.     

'New regionalism' in Central America

Central American regionalism is in a state of disarray after having been surrounded by great enthusiasm in the early 1990s. This article explores whether a 'new regionalism' framework can improve our understanding of this turn of events. It is argued that Central American integration lacks a series of features assumed to characterise 'new regionalism'. It has not been accompanied by spontaneous societal integration, its main stimulus has come from external actors, and the goal of the process has narrowed from originally being human welfare and security in a wide sense, to primarily being integration in the global economy. This is reflected in the integrationist rhetoric, where globalisation has entered the centre stage and is presented as a threat to which regional action should respond. This change has also rendered regional agreements largely superfluous as the member states pursue policies aimed at global integration regardless of the integration process.