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How to Save Globalization from Its Cheerleaders

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  • Rodrik, Dani

    (Harvard U)

Abstract

The new conventional wisdom on globalization emphasizes that reaping the benefits of trade and financial integration is not automatic, and requires better domestic institutions, essentially improved safety nets in rich countries and improved governance in the poor countries. The prevailing strategy is predicated on the presumption that insufficiently open markets continue to pose an important constraint on the world economy. In reality, lack of openness is no longer the binding constraint for the global economy. The gains to be reaped by further liberalization of markets are meager for poor and rich countries alike. An alternative approach to globalization would focus on enhancing policy space rather than market access, and on devising the rules of the game to better manage the interface between national regulatory and social regimes. It is possible to envisage such rules without slipping back into protectionism.

Suggested Citation

  • Rodrik, Dani, 2007. "How to Save Globalization from Its Cheerleaders," Working Paper Series rwp07-038, Harvard University, John F. Kennedy School of Government.
  • Handle: RePEc:ecl:harjfk:rwp07-038
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    References listed on IDEAS

    as
    1. Dani Rodrik, 2000. "How Far Will International Economic Integration Go?," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 177-186, Winter.
    2. M. Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009. "Financial Globalization: A Reappraisal," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(2), pages 143-197, June.
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    6. Mayda, Anna Maria & Rodrik, Dani, 2005. "Why are some people (and countries) more protectionist than others?," European Economic Review, Elsevier, vol. 49(6), pages 1393-1430, August.
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    13. Alan B. Krueger, 1996. "Observations on International Labor Standards and Trade," Working Papers 741, Princeton University, Department of Economics, Industrial Relations Section..
    14. Dani Rodrik, 1997. "Has Globalization Gone Too Far?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 57.
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    Cited by:

    1. Adler, Martin & Schmid, Kai Daniel, 2013. "Factor Shares and Income Inequality. Empiral Evidence from Germany 2002 – 2008," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 133(2), pages 121-132.
    2. Hagen Kraemer, 2011. "Die Entwicklung der funktionalen Einkommensverteilung und ihrer Einflussfaktoren in ausgewählten Industrieländern 1960-2010," IMK Studies 1-2011, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Kanbur, Ravi, 2009. "The Co-Evolution of the Washington Consensus and The Economic Development Discourse," Working Papers 48920, Cornell University, Department of Applied Economics and Management.
    4. Sabine Herrmann & Adalbert Winkler, 2009. "Financial markets and the current account: emerging Europe versus emerging Asia," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 145(3), pages 531-550, October.
    5. Misterek, Fokko, 2017. "Digitale Souveränität: Technikutopien und Gestaltungsansprüche demokratischer Politik," MPIfG Discussion Paper 17/11, Max Planck Institute for the Study of Societies.
    6. Bernauer, Thomas & Schaffer, Lena Maria & Spilker, Gabriele, 2013. "Does social capital increase public support for economic globalisation?," Papers 552, World Trade Institute.
    7. repec:eee:ecolec:v:141:y:2017:i:c:p:222-233 is not listed on IDEAS
    8. Thomas Goda & Alejandro Torres, 2013. "Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case," DOCUMENTOS DE TRABAJO CIEF 010930, UNIVERSIDAD EAFIT.

    More about this item

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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