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Whence Policy? Government Policies, Finance, and Economic Integration

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  • Bertola, Giuseppe
  • Lo Prete, Anna

Abstract

Economic integration may directly increase the need for private funding of consumption and investment, and should make it difficult for national governments to repress financial markets and to enforce redistribution policies that substitute private contractual arrangements. We analyze the trajectories since the 1980s of financial market development and policy choices and interpret them structurally as reactions, shaped by country-specific characteristics, to exogenous globalization pressures.

Suggested Citation

  • Bertola, Giuseppe & Lo Prete, Anna, 2010. "Whence Policy? Government Policies, Finance, and Economic Integration," CEPR Discussion Papers 7820, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:7820
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Bertola, Giuseppe, 2010. "Fiscal Policy and Labor Markets at Times of Public Debt," CEPR Discussion Papers 8037, C.E.P.R. Discussion Papers.
    2. Foellmi, Reto & Oechslin, Manuel, 2012. "Globalization and Productivity in the Developing World," Economics Working Paper Series 1203, University of St. Gallen, School of Economics and Political Science.

    More about this item

    Keywords

    financial development; globalization;

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H1 - Public Economics - - Structure and Scope of Government

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