Open economy politics: A critical review

An emergent paradigm, referred to as Open Economy Politics (OEP), now structures and guides research among many scholars. This essay sketches the general contours of the paradigm. Scientific accumulation is, in my view, the potential and great benefit of a self-conscious understanding of OEP as a single, unifying paradigm. The essay also provides a sympathetic critique of OEP and shows how the paradigm can be extended to capture some of the concerns and insights of other critics. Most important, this critique highlights the role and consequences of certain simplifying assumptions commonly used in OEP and calls for a closer examination of how international institutions and policies structure and change the interests of actors within countries that are now taken as exogenous.