PREFACE
INTRODUCTION
PART I
INITIAL CONDITIONS THAT EXPLAIN THE PATH OF THE MODERN WORLD
MARKET SYSTEM
1.1. FORMATION OF THE MOOERN WORLD-SVSTEM
1.1.1. Formation of the World-Political and Economic System
1. 1.2. Old and New Conditions for Modern World Trade Expansion
1.2.2 TH CENTURV TRAOE BLOCS ANO THE GLOBAL MARKET
1.2.1. Institutional Arrangements leading to Market Integration
1.2.2. International Political Economy transforms the Expanding World Mwkt
1.2.3. Removal of Historical Constraints to Trade
1.3.IDENTIFICATION OF NEW CONOITIONS ro INCREASE WORLD GROWTH
1.3.1. Economic Theory and the Criteria of Convergence
1.3.2. Mitigation of Systemic Risk to Capitallnvestment
PART II
FROM THE GLOBAL LIBERAL ORDER TO A GLOBAL MARKET SYSTEM
2.1. HISTORV'S VIEW ON ECONOMIC GLOBALIZATION
2.7.7. Spread ofthe Idea ofthe World System
2.7.2. States assume in the 20th Century a new Notion of Globalization
2.2.INTERNATIONAL INSTITUTIONS AND WORLD TRADE
2.2.7. New Political Organizations promote Institutional Changes
2.2.2. Diffusion of Trade Agreements and Formation of Economic Blocks
2.3. MOOERNIZATION ANO COUNTRY'S REGIONAL OEVElOPMENT
2.3.7. The Social Modernization Process
2.3.2. City-Region Promotes Sustaining Growth Paths
2.3.3. The Concept of Economic Geography relates to New Economic Growth Paths
PART III
FORMATION OF THE EMERGING WORLD POLITICAL SYSTEM
3.1. THE NATION-STATE IN THE WORLD-SYSTEM
3.7.7. The Sovereign Ruler and the 79th century World System
3.7.2. World War 1/: the New Order and Democratic PrincipIes in the 27't Century
3.7.3. The Cold War and the Emerging Power of the International System
3.2. DEMOCRACY AND GLOBALIZATION
3.3. SOVEREIGNTY ANO THE GLOBAL SYSTEM
PART IV
CAPITALlSM SPREADS AROUND THE GLOBE
4.1. WALLERSTEIN 'S VIEW ABOUT THE FORMATION OF A ONE-WORLD MARKET SYSTEM
4.7.7. Initial Conditions to Create a World Economic-System
4.7.2. Path to Capital Accumulation vio Industrial and Agricultural Innovation
4.7.3. Industrial Revolution Experience and the Role ofTechnical Innovation Practices
4.2.INOUSTRIAL REVOLUTlON ANO TH PATH OF WORLD ECONOMIC ACCUMULATION
4.2.7. New Institutíons help Countrie's' Foffow a Growth Path
4.2.2. From an Economic System to a Global Market
4.3.INTERNATIONAL POLITICAL ECONOMY PROPOSALS TO SUSTAIN A GROWING WORLD MARKET
4.3.1. The Emerging Role of the Bankers as Globallnvestors
THE TWENTV-FIRST CENTURV ANO THE GLOBAL KNOWLEOGE ECONOMIY'S OPPORTUNITIES
5.1. APPLICABLE KNOWLEOGE AS THE FACTOR THAT HAS LONG-TERM CONSEQUENCE ON SUSTAINING GROWTH
5.1.1. Comparing Two-Century's Transition
5.1.2. Emerging Countries and the New Economic Order
5.2. KNOWLEOGE BECOMES A NEW SOURCE OF WORLO POWER
5.2.1. Institutional Access to Trade System
5.2.2. Linking Political and Economic Interests
5.2.3. Wider Scope of the Theory of Political Economy
5.3. KNOWLEOGE IS A SOURCE OF ENOOGENOUS GROWTH IN THE 21sT CENTURY
5.3.1. Rate of Growth associates to the New Growth Model
5.3.2. Scale Economies and Technological lnnovation
5.4. KNOWLEOGE ECONOMY CHANGES WORLO MARKETS STRUCTURE
5.4.1. Protectionism or Convergence
5.4.2. Old and New Views about Growth
5.4.3. Making Growth a Con vergen t Process
5.4.4. Innovation and the New Growth Theory
5.4.5. Future of the New-Economy
5.5. THE MULTINATIONAL SPREAOS KNOWLEOGE IN THE GLOBAL MARKET
5.5.1. Technology Spreads Globaffy
PART VI
WORLD FINANCIAL MARKETS ANO GLOBAL POLITICS
6.1. GOLD AND THE EMERGING 19TH CENTURV WORLD FINANCIAL SYSTEM
6.1.1. Gold Standard and Theories of Expanding Credit Facilities
6.1.2. Central Banking, Business Abroad and the Rule of Gold
6.1.3. World Financial Organization
6.1.4. The British Investor Overseas
6.1.5. Global Politics and World Liquid Surpluses
6.1.6. Expansion ofWorld Financial System
6.2. TWENTV FIRST CENTURV GLOBAL CAPITAL MOVEMENTS
6.2.1. Sustaining Trade and Global Finances
6.2.2. Organization of Global Capital Markets
6.2.3. Adoption of a "One World Currency"
6.3. COLOMBIA LlNKED TO THE GLOBAL FINANCIAL SYSTEM
6.3.1. The Capital Market becomes Global
6.3.2. Investment Banking and New Financing Instruments
PART VII
THE NATlON-STATE TRANSFERS ITS SOVEREIGNTYTO NEW POLITICAL ACTORS
7.1. DEMOCRACV, MULTILATERALISM AND TRADE BUILDING BLOCKS
7.1.1. Historical Development of Regionalism in the Americas
7.1.2. Trade and the Transforming Model of Democracy
7.1.3. Strategic Considerations about New Economic Integration facing Global Markets
7.1.4. Multilateralism and Bilateralism in the 1990's
7.1.5. Economic Integration Experiences
7.2. FIRST ATTEMPT TO ACHIEVE INTEGRATION. 1991-2000. COLOMBIA AND THE UNITED STATES
7.2.1. U.S. Mechanisms to Promote Trade-The Fast Track
7.2.2. The Unilateral U.S. Agenda and 1998 Houston Project
7.2.3. Strategy to Democratize Politics vio "The Plan Colombia"
7.2.4. Andean Trade Preference Act-ATPA and Drug's Control
7.2.5. The U.S. Agenda Evolves to the Caribbean Basin Initiative-C.B.I
7.3. A SECOND ATTEMPT TO ACHIEVE HEMISPHERIC ECONOMIC INTEGRATlON AFTER MINISTERIAL TRAOE MEETING HELO IN TORONTO-1999
7.3.1. Tripartite Committee of NAFTA in the OAS Assembly
7.3.2. Ministerial Conference ofthe Seattle-WTO and other talksYear 2000
7.3.3. FTAA and Ministerial Meetings
7.4. THE THIRD ATTEMPT TO INTEGRATlON. MIAMI ANO THE FIRST SUMMIT OF THE AMERICAS (OECEMBER 9-11, 1994)
7.4.1. Santiago de Chile and the Second Summit of the Americas (April1998)
7.4.2. The Third Summit of Quebec, ApriI20-22, 2001 and the Fourth Summit of Mar del Plata, November 4-5,2005
7.4.3. Fifth Summit ofTrinidad-2009
7.4.4. Exclusion of Cuba from the Inter-American System and Emerging Possibilities
7.4.5. Multilateral Scope of the Summit of the Americas. The Last Hemispheric /ntegration Effort
7.4.6. New U.S. Vision towards Latin America-Sixth Summit of the Americas held in Cartagena
PART VIII
REACHING BILATERAL FREE TRADE AGREEMENTS-FTA'S
8.1. FACING THE OISCOURAGEMENT OF THE FREE TRAOE OF THE AMERICAS
8.2. LEARNING FROM WORKING GROUPS ON THE FTAA
8.3. THE FTA'S BILATERAL OISCUSSION BETWEEN COLOMBIA ANO THE UNITEO STATES-NEW WISOOM
8.3.1. Usefulness of the export model
8.4. PERSUAOING COLOMBIA TO OPEN ITS ECONOMY
8.4.1. The new comm ercial spirit of the FTA
8.5. AGREEING ON SUCCESSIVE STAGES THE USA-COLOMBIA'S FTA NEGOTIATION
8.5.7. Improvements around the HA, Colombia-United States Accord
PART IX
REGIONAL DEVELOPMENT: A ROUTE TO GLOBALIZATION
9.1. CITIES AND REGIONS: lINKS TO THE GLOBAL ECONOMY
9.7.7. Colombia faces Regional and Urban Development
9.7.2. Theoretical Framework to Regional Development
9.7.3. Gravity Analysis and Regional Development
9.2. THEORETICAL DEVELOPMENTS ON REGIONAL ANO URBAN ECONOMICS
9.2.7. Localization Theory
9.2.2. Economic Geography
9.2.3. Cumulative Causation and In vestmen t Location for Growth
9.2.4. Regional Development leads to Integration to Global Markets
9.3. REGIONAL SPECIAlIZATION ANO CONVERGENT GROWTH
9.3.7. Evidences of Divergent Growth in some Countries
9.4. ECONOMIC GEOGRAPHV ANO CITV-REGION
9.4.7. The New Intemational Atmosphere - Global Trade Framework
THE CITV-REGION A MODERN ACTOR TO COMPETE IN THE ENVIRONMENT OF GLOBALIZATION
10.1. THE CITV-REGION
10.2. COMPETING TECHNOPOLIS IN THE GLOBAL MARKET
10.2.7. Scope of the City-Region in México and North America
10.2.2. The Future City of China
10.2.3. Urban Policy: the Case of Guatemala City
10.2.4. The City in Latin America-A New Set of Problems
10.2.5. City-Region a Route to World Competition
10.2.6. City-Region and Global Financiallnstitutions
10.3.INVESTMENT BANKING ANO RISK CAPITAL
10.3.7. New Products
10.3.2. Guarantees and Risk Assets
10.3.3. Assigning Asset Titles
PART XI
THE CRISIS OF THE DOLLAR ANO THE EURO, EFFECTS ON THE INTERNATIONAL ECONOMY. "GLOBAL FINANCIAL CRISIS"
11.1.INTRODUCTION
11.2. GLOBAL ORDER ANO THE CRISIS OF THE DOLLAR ANO THE EURO
11.3. UNITED STATES ANO ITS INTERNATIONAL ECONOMIC POllCY STRATEGY
11.4. GLOBALIZATION, DOLLAR ANO THE CRISIS OF THE WORLD ECONOMIC SYSTEM
11.5. THE EXTERNAL SHOCK PRODUCE O BV THE EURO CRISIS
11.6. CONCLUSION
PART XII
CONCLUDING REMARKS ABOUT THE HISTORICAL ROOTS OF GLOBALIZATION
12.1. FROM GLOBAL ECONOMIC HISTORV TO GLOBALIZATION
12.2. GLOBALIZATION ANO ECONOMIC CYCLES
12.3. GEOPOLITICS ANO MODERN GLOBALIZATION. THE AGE OF CULTURALLY ANO ETHICAL PRINCIPLES
12.4. SCOPE OF THE CONCEPTS OF GLOBALIZATION, GOVERNANCE, COMPETITIVENESS ANO TECHNOLOGV
FROM FREE TRADE 10 GLOBALIZATION
REFERENCES
APENDIX 1
BIBLlOGRAPHICAL REFFERENCES
APENDIX 2
BIBLIOGRAPHICAL RESEARCH ON INTERNATIONAL POLITICAL ECONOMY
APENDIX 3
LITERATURE ON ECONOMIC INTEGRATlON IN LATIN AMERICA
APENDIX 4
LITERATURE ON THE DEVELOPMENT OF THE "CITY REGION"
APENDIX 5
LlTERATURE ON THE CHAPTER ABOUT"GLOBAL FINANCIAL CRISIS"
APENDIX 6
BIBLIOGRAPHY ON THE HISTORICAL ROOTS OF GLOBALIZATION
