Political Economy of Cross-Border Income Shifting: A Protection Racket Approach

This article aims to study how private European radio is becoming commercially international through the expansion of radio brands beyond their national market. It is the first ever analysis of the expansion strategies of radio groups across Europe, including their footprint in each market in which they operate, from the political economy of cultural industries. The article maps the main radio groups in Europe, analyses cross-national champions in depth and establishes three main types. This study shows that, thanks to the possibilities of a deregulated market, strengthening the role of the brand and the format, and the agreements with other groups, broadcasting radio has overcome the obstacles that, historically, hindered its cross-border expansion.

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Book Review: International Political Economy Ralph C. Bryant, Turbulent Waters: Cross-Border Finance and International Government (Washington DC: Brookings Institution Press, 2003, 504 pp., £38.95 pbk.)

Millennium Journal of International Studies ◽

10.1177/03058298040330020929 ◽

2004 ◽

Vol 33 (2) ◽

pp. 470-472 ◽

Cited By ~ 1

Author(s):

Stephen Nelson

Keyword(s):

Political Economy ◽

International Political Economy ◽

Washington Dc ◽

Brookings Institution ◽

Cross Border

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Introduction

10.1093/oso/9780198786085.003.0001 ◽

2021 ◽

pp. 1-11

Author(s):

Mark Thatcher ◽

Tim Vlandas

Keyword(s):

Political Economy ◽

Middle East ◽

The State ◽

Private Capital ◽

Economic Openness ◽

Sovereign Wealth Funds ◽

Cross Border ◽

Economic Actor ◽

Domestic Economies

This introductory chapter offers an overview of the book. It identifies the growing size and importance of overseas state investors and how they challenge current political economy analyses of the state. The phenomenon is well illustrated by Sovereign Wealth Funds (SWFs): state-owned investment bodies, often from Asia and the Middle East, that have bought shares in major firms in strategic sectors ranging from finance to communications and transport, as well as landmark buildings. The chapter presents the puzzle of the widespread acceptance of SWF investments: national responses to SWF purchases might have been expected to be hostile, especially as they represent entry into Western stock markets by non-Western overseas states. Yet many Western governments have accepted and often actively encouraged SWF investments, seeing them as an additional means to govern their domestic economies and pursue their political strategies. The chapter then situates this puzzle in the wider political economy literature on the role and power of the state in an increasingly internationalized economy. It argues that recent political economy works focus on the internationalization of private capital, ignoring the capacity of the state itself to become a cross-border economic actor. It summarizes the book’s findings that several Western governments have engaged in internationalized statism, underlining that the patterns of policy differ sharply from those that might be expected given popular and academic views of economic openness.

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