What is IPE?
What does IPE stand for?
International Political Economy.
In what year did 44 countries meet in New Hampshire to design the postwar economic order?
1944 (July 1944).
How many member countries does the IMF currently have, and where is it headquartered?
191 member countries, headquartered in Washington, D.C.
What is the overarching mission of the World Bank?
"To end extreme poverty and boost shareable prosperity on a livable planet."
In what year was the World Trade Organization (WTO) born, replacing GATT?
1995.
According to Gould (2019), what three things determine "who gets what" in the global economy?
States, markets, and institutions.
Under the Bretton Woods system, the US dollar was convertible to gold at what fixed rate per ounce?
$35 per ounce.
Which country holds approximately 16.5% of the voting rights in the IMF, giving it veto power over major decisions?
The United States.
What types of financial products does the World Bank supply to developing nations?
Low-interest loans, zero-interest credits, and grants.
What is the name of the 8th round of GATT negotiations (1986–1994) that led to the creation of the WTO?
The Uruguay Round.
Which of the three IPE perspectives believes international politics is a conflict between the rich and the poor, rather than a competition between national governments?
Marxism.
What event in 1971 effectively ended the Bretton Woods system?
The "Nixon Shock" (when the US suspended the dollar's convertibility into gold).
Name at least two of the policy reforms (conditions) the IMF requires countries to make in exchange for loans.
Austerity measures, currency devaluation, and/or trade liberalization.
How is the IMF structurally different from the World Bank?
The IMF is structured like a credit fund, while the World Bank provides different types of financial lending and financing support for development.
Name two of the six main functions of the WTO.
Regulates international trade, resolves trade disputes, promotes free trade, negotiates trade agreements, monitors trade policies, or supports developing countries.