Digital Technological Innovation and the International Political Economy
This chapter explores the main digital technological innovations currently associated with the Fourth Industrial Revolution—artificial intelligence, blockchain, and the Internet of Things—and their effects on the international political economy. It reviews some of their main benefits and challenges to established structures of the global economy, such as international trade and production, or the monetary and financial system. The chapter highlights that the complex coupling, interdependencies, and pervasiveness of these digital innovations disrupt the practice of international political economy on three dimensions: the established institutions that structure the international political economy, the distribution of authority between state and non-state actors, and the distribution of resources between and within developed and developing states.
- Arvanitakis, James, and David Hornsby. 2016. Universities, the Citizen Scholar and the Future of | J. Arvanitakis | Palgrave Macmillan. https://www.palgrave.com/br/book/9781137538680.
- Bacon, Jean, Johan David Michels, Christopher Millard, and Jatinder Singh. 2017. Blockchain Demystified, SSRN Scholarly Paper ID 3091218. Rochester: Social Science Research Network. https://papers.ssrn.com/abstract=3091218.
- Barkho, Gabriela. 2018. Why a Top Cryptocurrency Exchange Is Technically Illegal in New York City. Inverse, January 17, 2018. https://www.inverse.com/article/40144-binance-bitlicense-bitcoin-cryptocurrency-exchange-new-york-city.
- BBC News. 2017. China Shutting Down Bitcoin Exchanges. BBC News, September 19, 2017, sec. Business. http://www.bbc.co.uk/news/business-41320568.
- ———. 2018. Biggest Ever Digital Currency “Theft”, January 27, 2018, sec. Asia. http://www.bbc.co.uk/news/world-asia-42845505.
- Brass, Irina, Leonie Tanczer, Madeline Carr, and Jason Blackstock. 2017. Regulating IoT: Enabling or Disabling the Capacity of the Internet of Things? CARR Risk and Regulation Magazine 33 (August). http://www.lse.ac.uk/accounting/CARR/pdf/Risk&Regulation/r&r-33/riskandregulation-33-web.pdf.
- Brass, Irina, Leonie Tanczer, Madeline Carr, Miles Elsden, and Jason Blackstock. Forthcoming. Standardising a Moving Target: The Development and Evolution of IoT Security Standards. In IET Conference Proceedings. https://events.theiet.org/petras/programme.cfm.
- Chiu, Iris H.-Y. 2016. Fintech and Disruptive Business Models in Financial Products, Intermediation and Markets – Policy Implications for Financial Regulators. Journal of Technology Law & Policy 21: 55–112.Google Scholar
- Christensen, Clayton M., Rory McDonald, Elizabeth J. Altman, and Jonathan Palmer. 2016. Disruptive Innovation: Intellectual History and Future Paths. Harvard Business School. http://www.hbs.edu/faculty/Publication%20Files/17-057_2059672c-e9fb-4df9-9f3e-2654b9b1c2a9.pdf.
- ENISA. 2017. Baseline Security Recommendations for IoT in the Context of Critical Information Infrastructure. https://www.enisa.europa.eu/publications/baseline-security-recommendations-for-iot.
- ESMA. 2017. ESMA Alerts Investors to the High Risks of Initial Coin Offerings (ICOs). November 13, 2017. https://www.esma.europa.eu/sites/default/files/library/esma50-157-829_ico_statement_investors.pdf.
- G20. 2017. Shaping Digitalisation at Global Level. https://www.de.digital/DIGITAL/Redaktion/EN/Dossier/g20-shaping-digitalisation-at-global-level.html.
- Gartner. 2017. Gartner Says 8.4 Billion Connected. July 2, 2017. https://www.gartner.com/newsroom/id/3598917.
- Hale, Thomas, and David Held. 2011. Handbook of Transnational Governance: Institutions and Innovations. Ed. Thomas Hale and David Held. Cambridge: Polity Press.Google Scholar
- Knight, Will. 2015. At Amazon Warehouses, Humans and Machines Work in Frenetic Harmony. MIT Technology Review. https://www.technologyreview.com/s/538601/inside-amazons-warehouse-human-robot-symbiosis/.
- Lagarde, Christine. 2017. Central Banking and Fintech—A Brave New World? Bank of England Conference. IMF. September 29, 2017. https://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world.
- Liao, Shannon. 2017. Inside Russia’s Love-Hate Relationship with Bitcoin. The Verge, October 31, 2017. https://www.theverge.com/2017/10/31/16387042/russia-putin-bitcoin-regulation-ethereum-blockchain-technology.
- Meola, Andrew Meola, Business. 2016. How IoT Logistics Will Revolutionize Supply Chain Management. Business Insider, December 21, 2016. http://uk.businessinsider.com/internet-of-things-logistics-supply-chain-management-2016-10.
- OECD. 2017a. The Next Production Revolution: Implications for Governments and Business. OECD Publishing. https://doi.org/10.1787/9789264271036-en.
- ———. 2017b. Key Issues for Digital Transformation in the G20. https://www.oecd.org/g20/key-issues-for-digital-transformation-in-the-g20.pdf.
- Ravenhill, John, ed. 2016. Global Political Economy. 5th ed. Oxford/New York: Oxford University Press.Google Scholar
- Schumpeter, Joseph Alois. 1939. Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process. Martino Pub.Google Scholar
- Schwab, Klaus. 2017. The Fourth Industrial Revolution. London: Penguin UK.Google Scholar
- ———. n.d. The Fourth Industrial Revolution: What It Means and How to Respond. World Economic Forum. https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/. Accessed 31 Jan 2018.
- Tanczer, Leonie, Irina Brass, Miles Elsden, Madeline Carr, and Jason Blackstock. 2018. The United Kingdom’s Emerging Internet of Things (IoT) Policy and Legislative Landscape. In Rewired: Cybersecurity Governance. Hoboken: Wiley.Google Scholar
- The Economist. 2015. The Promise of the Blockchain: The Trust Machine. The Economist, October 31, 2015. https://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine.
- UNIDO. 2016. Industry 4.0 Opportunities and Challenges of the New Industrial Revolution for Developing Countries and Economies in Transition. Panel Discussion. 2016. https://www.unido.org/sites/default/files/2017-01/Unido_industry-4_NEW_0.pdf.
- US FTC. 2015. Internet of Things, Privacy and Security in a Connected World. https://www.ftc.gov/system/files/documents/reports/federal-trade-commission-staff-report-november-2013-workshop-entitled-internet-things-privacy/150127iotrpt.pdf.
- US Senate. 2017. Internet of Things Cybersecurity Improvement Act. https://www.congress.gov/bill/115th-congress/senate-bill/1691/text?format=txt.
- Woolf, Nicky. 2016. DDoS Attack That Disrupted Internet Was Largest of Its Kind in History, Experts Say. The Guardian, October 26, 2016. http://www.theguardian.com/technology/2016/oct/26/ddos-attack-dyn-mirai-botnet.