Globalisation’s Impact on States, Strategies and Accumulation Regimes: From Neoliberalism to the New Keynesian Macroeconomics

Abstract

Globalisation provides the structural backdrop against and within which recent histories of development have played out. Associated particularly with the liberalisation of trade, production and finance, globalisation has come to be identified by many with the global spread of capitalism during the neoliberal era. As such, globalisation is seen to have radically constrained developmentalist and wider ‘progressive’ political economy options for the state. Yet at the same time, the era of globalisation has also been an era for unprecedented economic transformation, including developmental transformation, for many states. Trying to make sense of this apparent paradox is one of the underlying concerns of this chapter and the book as a whole.