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What are the right institutions in a globalizing world? and... can we keep them if we have found them?

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Author Info
Islam, Roumeen
Abstract

Greater trade integration has often been viewed as requiring greater standardization in institutions, without which the benefits of trade do not materialize. There are many current debates concerning the degree and area of standardization needed and these debates are likely to continue for the foreseeable future. This paper, drawing on both the fiscal federalism and the trade literature, argues that increasing trade integration is consistent with a wide array of institutional choices. The final outcome, in terms of which institutions have prevailed, has depended substantially on political pressures for standardization and not necessarily on a clear assessment of economic gains.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3448.

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Date of creation: 01 Nov 2004
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Handle: RePEc:wbk:wbrwps:3448

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Related research
Keywords: Labor Policies; Environmental Economics&Policies; Economic Theory&Research; Decentralization; Banks&Banking Reform; Environmental Economics&Policies; Economic Theory&Research; Banks&Banking Reform; National Governance; Trade and Regional Integration;

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  5. Alesina, Alberto & Wacziarg, Romain, 1999. "Is Europe going too far?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 51(1), pages 1-42, December. [Downloadable!] (restricted)
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  6. Ronald Fischer & Pablo Serra, 1998. "Standards and Protection," Documentos de Trabajo 45, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
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  7. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December. [Downloadable!] (restricted)
  8. Roumeen Islam, 2003. "Institutional reform and the judiciary : which way forward?," Policy Research Working Paper Series 3134, The World Bank. [Downloadable!]
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  12. Alesina, Alberto & Wacziarg, Romain, 1998. "Openness, country size and government," Journal of Public Economics, Elsevier, vol. 69(3), pages 305-321, September. [Downloadable!] (restricted)
  13. Alesina, Alberto F & Angeloni, Ignazio & Schuknecht, Ludger, 2002. "What Does the European Union Do?," CEPR Discussion Papers 3115, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  14. Maskus, Keith E. & Penubarti, Mohan, 1995. "How trade-related are intellectual property rights?," Journal of International Economics, Elsevier, vol. 39(3-4), pages 227-248, November. [Downloadable!] (restricted)
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  16. Alberto Alesina & Enrico Spolaore & Romain Wacziarg, 1997. "Economic Integration and Political Disintegration," NBER Working Papers 6163, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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