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Globalization and democracy

Author

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  • Deepak Nayyar

Abstract

The gathering momentum of globalization in the world economy has coincided with the spread of political democracy across countries. Economies have become global. But politics remains national. This essay explores the relationship between globalization and democracy, which is neither linear nor characterized by structural rigidities. It seeks to analyze how globalization might constrain degrees of freedom for nation states and space for democratic politics, and how political democracy within countries might exercise some checks and balances on markets and globalization. The essential argument is that the relationship between globalization and democracy is dialectical and does not conform to ideological caricatures. JEL Classification: O10; O19; O23; F4; FO2; H10; P16.

Suggested Citation

  • Deepak Nayyar, 2015. "Globalization and democracy," Brazilian Journal of Political Economy, Center of Political Economy, vol. 35(3), pages 388-402.
    • Handle: RePEc:ekm:repojs:v:35:y:2015:i:3:p:388-402:id:230
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/230/220
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    Citations

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    Cited by:

    1. Muhammed Muqtada, 2018. "Working Paper 115 – Macroeconomic Policy, Price Stability and Inclusive Growth in Bangladesh," CPD Working Paper 115, Centre for Policy Dialogue (CPD).

    More about this item

    Keywords

    globalization; market economy; political democracy; nation state; policy space; macroeconomia policies; open economies; trilemma; dialectical; social media;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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