IDEAS home Printed from https://ideas.repec.org/a/aea/jecper/v13y1999i2p3-18.html

Distinguished Lecture on Economics in Government: Reflections on Managing Global Integration

Author

Listed:
  • Lawrence H. Summers

Abstract

On the topic of globalization and economic integration, I want to address five subjects: The first is the extent of global integration that has taken place and that lies in prospect. The second is the broad case for economic integration and why domestic and global efforts to promote that case have not been more successful. The third is the challenge to policymakers that is posed by what I have called the "economic integration trilemma" --the difficulty of combining the three goals of greater economic integration, proper public economic management, and national sovereignty in a world in which any one of these goals can conflict with the other two. Fourth, I want to reflect on some of the policy implications of increased integration in one area that has been highlighted by the crises in Asia, Russia, and elsewhere: the international capital market. Finally, I will offer some concluding observations about the special role for the United States as the world's only economic superpower in managing global integration.

Suggested Citation

  • Lawrence H. Summers, 1999. "Distinguished Lecture on Economics in Government: Reflections on Managing Global Integration," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 3-18, Spring.
    • Handle: RePEc:aea:jecper:v:13:y:1999:i:2:p:3-18
    Note: DOI: 10.1257/jep.13.2.3
    as

    Download full text from publisher

    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.2.3
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. World Bank, 1995. "Global Economic Prospects and the Developing Countries 1995," World Bank Publications - Books, The World Bank Group, number 32390, April.
    2. Alesina, Alberto & Özler, Sule & Roubini, Nouriel & Swagel, Phillip, 1996. "Political Instability and Economic Growth," Journal of Economic Growth, Springer, vol. 1(2), pages 189-211, June.
    3. Charles W. Calomiris, 1998. "The IMF's Imprudent Role As Lender of Last Resort," Cato Journal, Cato Journal, Cato Institute, vol. 17(3), pages 275-294, Winter.
    4. Jeffrey G. Williamson, 1998. "Globalization, Labor Markets and Policy Backlash in the Past," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 51-72, Fall.
    5. Robert C. Feenstra, 1998. "Integration of Trade and Disintegration of Production in the Global Economy," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 31-50, Fall.
    6. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-1150, July.
    7. Barro, Robert J, 1996. "Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
    8. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    9. Robert J. Barro, 1994. "Democracy & Growth," NBER Working Papers 4909, National Bureau of Economic Research, Inc.
    10. Dani Rodrik, 1998. "Has Globalization Gone Too Far?," Challenge, Taylor & Francis Journals, vol. 41(2), pages 81-94, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert O. Keohane, 1999. "Politics of the international monetary system: an address," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 43(Jun), pages 173-179.
    2. Kokko, Ari, 2006. "The Home Country Effects Of Fdi In Developed Economies," EIJS Working Paper Series 225, Stockholm School of Economics, The European Institute of Japanese Studies.
    3. Peter A. Coclanis & Tilak Doshi, 2000. "Globalization in Southeast Asia," The ANNALS of the American Academy of Political and Social Science, , vol. 570(1), pages 49-64, July.
    4. Aaditya Mattoo & Randeep Rathindran, 2006. "Measuring Services Trade Liberalization and Its Impact on Economic Growth: An Illustration," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 21, pages 64-98.
    5. Shujun Chao & Shanyong Wang & Haidong Li & Shu Yang, 2023. "The power of culture: Does Confucian culture contribute to corporate environmental information disclosure?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2435-2456, September.
    6. ., 2010. "Korea's Economic Policy in Transition: Evolution, Assessment and Future Direction," Chapters, in: The Korean Economy in Transition, chapter 1, Edward Elgar Publishing.
    7. Shinji Takagi, 2010. "Applying the Lessons of Asia : The IMF’s Crisis Management Strategy in 2008," Macroeconomics Working Papers 22822, East Asian Bureau of Economic Research.
    8. Muhammad Tariq Majeed & Amna Malik, 2016. "E-government, Economic Growth and Trade: A Simultaneous Equation Approach," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 55(4), pages 499-519.
    9. Andreas Polk, 2002. "Lobbying Activities of Multinational Firms," SOI - Working Papers 0205, Socioeconomic Institute - University of Zurich, revised Jun 2002.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alan M. Taylor, 1999. "Latin America and Foreign Capital in the Twentieth Century: Economics, Politics, and Institutional Change," NBER Working Papers 7394, National Bureau of Economic Research, Inc.
    2. Chowdhury, Shyamal K., 2004. "The effect of democracy and press freedom on corruption: an empirical test," Economics Letters, Elsevier, vol. 85(1), pages 93-101, October.
    3. Andrea Asoni, 2008. "Protection Of Property Rights And Growth As Political Equilibria," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 953-987, December.
    4. Takahiro SATO, 2017. "India in the World Economy: Inferences from Empirics of Economic Growth," ESRI Discussion paper series 338, Economic and Social Research Institute (ESRI).
    5. Fenske, James, 2010. "Institutions in African history and development: A review essay," MPRA Paper 23120, University Library of Munich, Germany.
    6. Ramon Casadesus-Masanell & Tarun Khanna, 2003. "Globalization and Trust: Theory and Evidence from Cooperatives," William Davidson Institute Working Papers Series wp592, William Davidson Institute at the University of Michigan.
    7. Celal Kucuker, 2003. "Türkiye Ýktisat Kongresi Büyüme Stratejileri Çalýþma Grubu," Working Papers 2003/5, Turkish Economic Association.
    8. Andreas Assiotis & Kevin Sylwester, 2013. "Do the effects of corruption upon growth differ between democracies and autocracies?," University of Cyprus Working Papers in Economics 06-2013, University of Cyprus Department of Economics.
    9. Aisen, Ari & Veiga, Francisco José, 2013. "How does political instability affect economic growth?," European Journal of Political Economy, Elsevier, vol. 29(C), pages 151-167.
    10. Francisco José Veiga, 2013. "Instituições, Estabilidade Política e Desempenho Económico Implicações para Portugal," NIPE Working Papers 11/2013, NIPE - Universidade do Minho.
    11. Jody Overland & Kenneth Simons & Michael Spagat, 2005. "Political instability and growth in dictatorships," Public Choice, Springer, vol. 125(3), pages 445-470, December.
    12. Gasmi, Farid & Recuero Virto, Laura & Couvet, Denis, 2023. "An empirical analysis of economic growth in countries exposed to coastal risks: Implications for their ecosystems," Economic Systems, Elsevier, vol. 47(4).
    13. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August.
    14. Polimeni, John M. & Iorgulescu Polimeni, Raluca & Trees, W. Scott, 2007. "Extending The Augmented Solow Growth Model To Explain Transitional Economies," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(1), pages 65-76, March.
    15. Jeffry A. Jacob & Thomas Osang, 2018. "Democracy And Growth: A Dynamic Panel Data Study," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(01), pages 41-80, August.
    16. Alberto Chong & Luisa Zanforlin, 2004. "Inward-Looking Policies, Institutions, Autocrats, and Economic Growth in Latin America: An Empirical Exploration," Public Choice, Springer, vol. 121(3), pages 335-361, February.
    17. Farid Gasmi & Laura Recuero Virto & Denis Couvet, 2020. "The Impact of Renewable Versus Non-renewable Natural Capital on Economic Growth," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 77(2), pages 271-333, October.
    18. Durlauf, Steven N. & Quah, Danny T., 1999. "The new empirics of economic growth," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 4, pages 235-308, Elsevier.
    19. Alberto Chong & Luisa Zanforlin, 2001. "Políticas de orientación interna, instituciones, autócratas y crecimiento económico en América Latina: un análisis empírico," Research Department Publications 4256, Inter-American Development Bank, Research Department.
    20. Mina Baliamoune-Lutz, 2002. "Assessing the Impact of One Aspect of Globalization on Economic Growth in Africa," WIDER Working Paper Series DP2002-91, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:jecper:v:13:y:1999:i:2:p:3-18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.