chapter 33
...................................................................................................................................................INTERNATIONAL
ECONOMIC
INSTITUTIONS
...................................................................................................................................................lisa l. martin
Many of the world’s international economic transactions today are organized by
international economic institutions (IEIs). The international political economic en-
vironment is highly institutionalized, and international economic organizations play
an important role in the international distribution of wealth. As such, these organiza-
tions have become subject to intense public scrutiny, some supportive and some
hostile. 1 IEIs have also increasingly been the subject of rigorous scholarly study.
These political institutions are particularly studied by political scientists, using the
same intellectual frameworks used to study international organizations more generally.
This chapter considers the frameworks used to study IEIs and highlights issues
that should prompt future research agendas on this topic. I focus on the following
themes: First, an understanding of the causes and consequences of IEIs requires
that we begin by specifying the fundamental strategic problems that IEIs address.
1 There is a valid distinction between institutions and organizations, as other chapters in this
Handbookmake clear. In the international relations literature, the term ‘‘institutions’’ is used to refer
more generally to sets of rules and norms. ‘‘Organizations’’ embody these norms and are empowered
to take actions. However, in this case, the distinction does not hold any great analytical consequences.
Most institutions also have substantial organizational structure. One exception, perhaps, is the GATT.
The GATT began as a series of bargained agreements, and had barely any organizational structure, not
even a mailing address. However, the GATT gained such structure over time, and now as the WTO its
organizational status isWrmly established.