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


  • Lawrence H. Summers


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

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    References listed on IDEAS

    1. 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.
    2. repec:hrv:faseco:30728041 is not listed on IDEAS
    3. Barro, Robert J, 1996. "Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
    4. 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.
    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. 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.
    7. 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.
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    Cited by:

    1. ., 2010. "Korea's Economic Policy in Transition: Evolution, Assessment and Future Direction," Chapters,in: The Korean Economy in Transition, chapter 1 Edward Elgar Publishing.
    2. 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.
    3. 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.
    4. 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.
    5. repec:pid:journl:v:55:y:2016:i:4:p:499-519 is not listed on IDEAS
    6. Andreas Polk, 2002. "Lobbying Activities of Multinational Firms," SOI - Working Papers 0205, Socioeconomic Institute - University of Zurich, revised Jun 2002.

    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


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