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Putting Global Governance in its Place

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  • Rodrik, Dani

Abstract

In a world economy that is highly integrated, most policies produce effects across the border. This is often believed to be an argument for greater global governance, but the logic requires scrutiny. There remains strong revealed demand for policy and institutional diversity among nations, rooted in differences in historical, cultural, or development trajectories. The canonical case for global governance is based on two set of circumstances. The first occurs when there is global public good (GPG) and the second under “beggar-thy-neighbor†(BTN) policies. However, the world economy is not a global commons, and virtually no economic policy has the nature of a global public good (or bad). And while there are some important BTN policies, much of our current discussions deal with policies that are not true BTNs. The policy failures that exist arise not from weaknesses of global governance, but from distortions of domestic governance. As a general rule, these domestic failures cannot be fixed through international agreements or multilateral cooperation. The paper closes by discussing an alternative model of global governance called “democracy-enhancing global governance.â€

Suggested Citation

  • Rodrik, Dani, 2019. "Putting Global Governance in its Place," CEPR Discussion Papers 13945, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:13945
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    Cited by:

    1. Carney, Michael & Estrin, Saul & Liang, Zhixiang & Shapiro, Daniel, 2022. "Are Latin American business groups different? An exploratory international political economy perspective," LSE Research Online Documents on Economics 111821, London School of Economics and Political Science, LSE Library.
    2. Luis Alfonso Dau & Elizabeth M. Moore & Jonathan P. Doh & Margaret A. Soto, 2022. "Does global integration stimulate corporate citizenship? The effect of international trade agreements and regulatory quality on state and private firm adoption of CSR standards," Journal of International Business Policy, Palgrave Macmillan, vol. 5(3), pages 328-352, September.
    3. Lilac Nachum, 2021. "Value distribution and markets for social justice in global value chains: Interdependence relationships and government policy," Journal of International Business Policy, Palgrave Macmillan, vol. 4(4), pages 541-563, December.
    4. Suma Athreye & Lucia Piscitello & Kenneth C. Shadlen, 2020. "Twenty-five years since TRIPS: Patent policy and international business," Journal of International Business Policy, Palgrave Macmillan, vol. 3(4), pages 315-328, December.

    More about this item

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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