Growth And Development In The Global Economy
What are the forces behind the increasing globalization of economic life? How does globalization affect the functioning of national economies? What difficulties confront government policymakers in dealing with the global economy? These issues are addressed in this volume by leading specialists. The contributors present a range of unique and varied perspectives from which they consider aspects of the increasing integration of economic life, exploring implications for the functioning of domestic markets in a rapidly changing global economy. The result is a collection of insights that provide a framework for understanding globalization as an economic phenomenon. The determinants of national economic growth within this global context, and the way in which national governments and international organizations can best achieve growth and development without instability and widening inequality are also discussed.
Part I: The Process of Change
2. Institutions and Progress
3. Intellectual Property, Entangled Particles and Hi-Tech Policie
Part II: Production, Pricing and Wages in Domestic Markets
4. Production Externalities, Integration and Growth: The Case of the European Union Single Market
5. Does Openness Mean That Domestic Prices are Determined Abroad?
6. Globalization of Trade and Foreign Investment: Its Implication for Factor Rewards and Economic Development
Part III: Determinants of Economic Growth and Volatility
7. Stock Returns and the State of the Economy: A Historical Perspective Using Very Long-run UK Data
8. Cross-Country Evidence on the Link between Economic Volatility and Technical Progress
9. Globalization and the Terms of Trade: The Glass Ceiling Hypothesis
Part IV: Policy Making in the Global Economy
10. Macroeconomic Impacts of Globalization
11. Existence of Equilibrium in Models of Internationally Competitive Public Policy
12. Are Culturally Diverse Countries More Fiscally Decentralized?
13. The Economic Importance of Threats
14. The WTO and the Transfer of Policy Knowledge: The Case of Trade and Competition