Criteria for a Political Cost-Benefit Approach Towards East-West Economic Relations

Heinrich Vogel
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Heinrich Vogel: Federal Institute for Eastern and International Studies

Chapter 22 in East-West Economic Relations in the Changing Global Environment, 1986, pp 405-410 from Palgrave Macmillan

Abstract: Abstract In the economic literature of past years, the study of the impact of political on economic relations between East and West (constrained as these relations are by differences in natural endowment, in levels of industrialisation, in the dynamics of structural change, and last but not least in economic systems) was gladly left as a playground for political scientists. It is true, there was a minority in the vanguard of a political economy of East-West trade. The majority of economists in East and West, however, being confronted with an increasingly chilly climate between the superpowers went out of their way to protect their domain from political fallout. The multilateral framework of the CSCE process, together with long-term agreements between the main participants in East-West trade appeared to be a solid enough basis to dismiss the impasse in arms control talks and rising tensions in great power relations as ‘polluting factors’. Confidence remained firm that the approach of mutual economic benefit would remain a stronghold for at least maintaining the levels of exchange reached in Europe by 1979.

Keywords: Economic Relation; Natural Endowment; Foreign Economic Relation; Foreign Policy Goal; Multilateral Framework (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-18400-2_22

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DOI: 10.1007/978-1-349-18400-2_22

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