Liberal Economic Internationalism and Developing Countries of the Global South: Critique from International Law & International Relations Contexts

Brian Ikejiaku

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Abstract

The subject of liberal economic international (LEI) discourse has incited a debate within the academic-circles with implication on policy. The debate appears largely to centre on two divergent viewpoints; while on one hand, scholars from developed global-north, summarily argue that LEI agenda will help to reduce the resource gap in the LDCs, by improving the trade imbalance and encouraging a net capital inflow, eradicate poverty and improve economic-development of underdeveloped states. On the other hand, scholars from developing countries, summarily posit that LEI movement is a dilemma of development in the global-south created by the Westerners, MNCs, and IFIs which pretends the development of the global-south, but really is a way to penetrate the states and economies of developing countries in order to influence, control, and restrict their decision-making and development policies to favour them. This paper examines LEI from international law and international relations contexts. It uses theoretical, interdisciplinary, and critical-analytical approach, with empirical evidence from developing countries. It argues that LEI is in principle a good international development agenda that would have benefited the developing poor nations if it has been conscientiously implemented, but as it has not, it failed and continues to fail the developing countries.
Original languageEnglish
Pages (from-to)108-125
Number of pages18
Journal Asian-African Journal of International Law
Volume2
Issue number1
Publication statusPublished - 12 Nov 2015

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internationalism
international economics
international law
international relations
developing country
economics
development policy
poverty
decision making
economy
discourse
resources
evidence

Keywords

  • International Law
  • International Relations
  • International Law & Development
  • International Economic Law
  • Liberal Economic Internationalism
  • Developed Global North
  • Developed Global South

Cite this

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abstract = "The subject of liberal economic international (LEI) discourse has incited a debate within the academic-circles with implication on policy. The debate appears largely to centre on two divergent viewpoints; while on one hand, scholars from developed global-north, summarily argue that LEI agenda will help to reduce the resource gap in the LDCs, by improving the trade imbalance and encouraging a net capital inflow, eradicate poverty and improve economic-development of underdeveloped states. On the other hand, scholars from developing countries, summarily posit that LEI movement is a dilemma of development in the global-south created by the Westerners, MNCs, and IFIs which pretends the development of the global-south, but really is a way to penetrate the states and economies of developing countries in order to influence, control, and restrict their decision-making and development policies to favour them. This paper examines LEI from international law and international relations contexts. It uses theoretical, interdisciplinary, and critical-analytical approach, with empirical evidence from developing countries. It argues that LEI is in principle a good international development agenda that would have benefited the developing poor nations if it has been conscientiously implemented, but as it has not, it failed and continues to fail the developing countries.",
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N2 - The subject of liberal economic international (LEI) discourse has incited a debate within the academic-circles with implication on policy. The debate appears largely to centre on two divergent viewpoints; while on one hand, scholars from developed global-north, summarily argue that LEI agenda will help to reduce the resource gap in the LDCs, by improving the trade imbalance and encouraging a net capital inflow, eradicate poverty and improve economic-development of underdeveloped states. On the other hand, scholars from developing countries, summarily posit that LEI movement is a dilemma of development in the global-south created by the Westerners, MNCs, and IFIs which pretends the development of the global-south, but really is a way to penetrate the states and economies of developing countries in order to influence, control, and restrict their decision-making and development policies to favour them. This paper examines LEI from international law and international relations contexts. It uses theoretical, interdisciplinary, and critical-analytical approach, with empirical evidence from developing countries. It argues that LEI is in principle a good international development agenda that would have benefited the developing poor nations if it has been conscientiously implemented, but as it has not, it failed and continues to fail the developing countries.

AB - The subject of liberal economic international (LEI) discourse has incited a debate within the academic-circles with implication on policy. The debate appears largely to centre on two divergent viewpoints; while on one hand, scholars from developed global-north, summarily argue that LEI agenda will help to reduce the resource gap in the LDCs, by improving the trade imbalance and encouraging a net capital inflow, eradicate poverty and improve economic-development of underdeveloped states. On the other hand, scholars from developing countries, summarily posit that LEI movement is a dilemma of development in the global-south created by the Westerners, MNCs, and IFIs which pretends the development of the global-south, but really is a way to penetrate the states and economies of developing countries in order to influence, control, and restrict their decision-making and development policies to favour them. This paper examines LEI from international law and international relations contexts. It uses theoretical, interdisciplinary, and critical-analytical approach, with empirical evidence from developing countries. It argues that LEI is in principle a good international development agenda that would have benefited the developing poor nations if it has been conscientiously implemented, but as it has not, it failed and continues to fail the developing countries.

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KW - Liberal Economic Internationalism

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KW - Developed Global South

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