INTERNATIONAL POLITICAL ECONOMY - INSTITUTIONS AND INSTITUTIONAL REFORMS

Given that economic issues are augmented by the forces of globalization, it becomes obvious that the international economy is an explanatory variable increasingly important, a consistent part of a comprehensive explanation of the architecture of international space and a way of understanding how international (global) actors defining and redefining their strategies. On such a background, a number of concepts and processes in the area of the economy - the (institutional) management of international (global) trade, interest rates or foreign debt, foreign direct investment and multinational companies - becomes part of the specific explanation of international studies. In this context, the present study performed an analysis of how the institutions of postwar economic order - IMF, World Bank and GATT (WTO) - constitute the vectors of global economic system, reflecting nowadays the increasing economic interdependence of globalized world's actors and playing an esential role in the spread and consolidation of neoliberal rules; the second stage of the study will argue that the challenge for the entire institutional scaffolding is to adapt itself to contemporary political and economic transformations and succeed to integrate developing economies in international free trade regime.