Neomercantilism and international economic stability

Paolo Guerrieri and Pier Carlo Padoan

International Organization, 1986, vol. 40, issue 1, 29-42

Abstract: In a recent paper, Barry Buzan disputes the widespread theory that associates a liberal international economic structure positively, and a mercantilist structure negatively, with international security. We do not take issue with Buzan's arguments on this point; rather we disagree with some of his assumptions concerning the relationship between mercantilistic policies and the international economic order. Those of Buzan's points that we question represent generally accepted views in the literature on mercantilismBuzan's definition of mercantilism focuses essentially if not exclusively on protectionist trade policies. We prefer a more general definition based on Keynesian and post-Keynesian literature. By including the macroeconomic goals of neomercantilism, this definition accounts for a country's foreign economic policy.

Date: 1986
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