Barry and Reddy challenge us to envision a world where workers everywhere can make a living wage in safe conditions and globalization does not drive us to compete in a desperate "race to the bottom."
According to Grewal, we need to understand globalization as a process in which we participate by choice but not necessarily voluntarily—one in which common standards allow more effective coordination, yet also entrap us in their pull for convergence.
The European Union (EU) perceives itself as a model for regional integration, which it seeks to diffuse by actively promoting the development of genuine (intra-) regional economic and political cooperation, the building of issue-related regimes, and the creation of joint institutions for consultation and decision-making in its neighbourhood and beyond as well as between the world regions and the EU.
Topic:
Globalization, Government, and Regional Cooperation
Recognizing the strategic potential for expanding cooperation on regional and global challenges and the shared values among the United States, Japan and India, the Center for Strategic and International Studies (CSIS), the Confederation of Indian Industries (CII), and the Japan Institute for International Affairs (JIIA) initiated the U.S.-Japan-India Strategic Dialogue in June 2006.
Topic:
Globalization, Industrial Policy, International Trade and Finance, Regional Cooperation, and Treaties and Agreements
His program, featuring Mayors Michael Bloomberg of New York and Boris Johnson of London, is the keystone of a three-day conference in New York planned as the kickoff for continuing discussion between these two great cities. During the conference and beyond, invited participants will focus on major issues facing New York and London: the future of their financial sectors, the diversification of their economies, building and maintaining their capital plants, and expanding housing affordability.
Topic:
Globalization, International Political Economy, and Bilateral Relations
Political Geography:
United States, New York, United Kingdom, Europe, and London
Eswar Prasad, Kenneth Rogoff, M. Ayhan Kose, and Shang-Jin Wei
Publication Date:
04-2009
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound macroeconomic policies are an important prerequisite for ensuring that financial integration is beneficial. However, our analysis also suggests that the relationship between financial integration and economic policies is a complex one and that there are unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these tensions, structural and macroeconomic policies often need to be tailored to take into account country specific circumstances to improve the risk-benefit tradeoffs of financial integration. Ultimately, it is essential to see financial integration not just as an isolated policy goal but as part of a broader package of reforms and supportive macroeconomic policies.
Topic:
Development, Economics, Globalization, and International Trade and Finance
Weatherhead Center for International Affairs, Harvard University
Abstract:
How does globalization affect individuals and their perceptions and policy preferences? This paper uses new developments in international trade theory to propose a new way of conceptualizing and measuring the extent to which an individual can be characterized as globalization winner or loser. We argue that the distributional effect of exposure to international competition is conditional on individuals’ ability. Low-ability workers exposed to the international economy face lower wages and higher risk of unemployment, and can therefore be characterized as globalization losers. In contrast, high-ability workers receive higher wages when they are exposed to international competition are therefore identified as globalization winners. To illustrate the usefulness of this approach for political scientists, the paper revisits the debate about the determinants of social policy preferences. Using cross-national survey data from 16 countries we show that globalization has significant and heterogenous individual-level effects. Exposure to globalization increases risk perceptions and demands for more income redistribution among individuals with low levels of education (as a proxy for ability), but decreases these perceptions and demands among highly educated respondents.
Peterson Institute for International Economics (PIIE)
Abstract:
We tend to think of sophisticated goods and foreign direct investments (FDI) as flowing from high-income countries to lower-income countries, but flows in the opposite direction are increasing in frequency and significance. In this working paper, CGD senior fellow Arvind Subramanian and co-author Aaditya Mattoo document this trend and explore its consequences on source countries. Considering not only the composition of exports but their destination as well, they find a positive relationship between the uphill flows of sophisticated goods and FDI and economic growth, suggesting perhaps that development benefits might derive not from deifying comparative advantage but from defying it.
In the interest of convenience, the study of globalization can be grouped into three camps – hyperglobalist, sceptic, and transformationalist approaches (Held et al. 1999). Over the past decade or so, the first two have gradually fallen into disrepute for their empirical weaknesses and their theoretical lack of sophistication. By default, proponents of the transformationalist thesis, although by no means a unified approach, have emerged triumphant by being able to offer increasingly compelling examinations of the changing relation between space and sovereignty.