Global public policy : governing without government? / Wolfgang H. Reinicke.

Format:

Book

Author/Creator:

Reinicke, Wolfgang.

Language:

English

Subjects (All):

International economic integration.

Economic policy.

Policy sciences.

Physical Description:

xi, 307 pages : illustrations ; 24 cm

Place of Publication:

Washington, D.C. : Brookings Institution Press, [1998]

Summary:

During the last decade "globalization" has become a fashionable term among policymakers and academics alike. Not one days passes during which the term is not being invoked to legitimize a policy decision, promote a policy prescription, or explain a policy outcome. Despite its frequent use, however, little is known about globalization and its effects.

In this pathbreaking new book, Wolfgang Reinicke provides an in-depth analysis of economic globalization and examines its implications for public policy. National responses, as suggested on both ends of the political spectrum in the United States and elsewhere, are often flawed. Global public policy -- not world government, but a mixed approach to global management in which states, corporations, NGOs, regional and international organizations, and coalitions cooperate -- provides an alternative and promising framework.

Using four case studies -- global banking, money laundering, dual-use export controls, and trade in chemical precursors -- the book develops the concept of global public policy and shows how its principles have the potential to improve the capacities of policymakers to deal with the challenges of the 21st century.

Contents:

1. Globalization of Economic Activity: Definition, Sources, Measurement, and Limits 11

Measurement 18

Limits to Globalization: Sectoral, Geographic and Historical 39

2. Globalization and Public Policy: An Analytical Framework 52

Interdependence: Challenges to External Sovereignty 54

Globalization: Challenges to Internal Sovereignty 62

3. Policy Responses: Matching Economic and Political Geography 75

Defensive Intervention 76

Offensive Intervention 78

Intervention in Practice 80

Global Public Policy 85

Implementing Global Public Policy 87

Horizontal Subsidiarity: A Case Study 93

Implications for Policy 97

4. Global Financial Markets: Pioneers in Global Public Policy 102

The Basle Accord: Anatomy of a Global Regulatory Agreement 103

The Lessons of Basle 113

Beyond Basle: New Challenges Facing Global Public Policy 118

5. Global Crime and Public Policy: The Case of Money Laundering 135

U.S. Anti-Money Laundering Initiatives and the Emergence of Horizontal Subsidiarity 139

Toward a Global Anti-Money Laundering Regime 156

6. From Denial to Disclosure: Dual-Use Trade in a Globalizing Industry 173

A New Environment 174

The Wassenaar Arrangment 180

Toward Disclosure-Based Regulation 186

From National to Global Dual-Use Controls 199

Keeping Up with the Times 222

Implications for International Security 223

Toward Global Public Policy 227

Back to the Future 229

1-1. Degree of Transnationalization of U.S. Nonbank Transnational Corporations by Sector, 1983-91 20

1-2. Ratio of Imported to Domestic Sourcing of Intermediate Inputs for Six OECD Countries 29

1-3. Foreign Holding of Central Government Debt in Six OECD Countries, 1980-92 32

1-4. Private Sector Capital Outflows from Major Industrialized Countries, Annual Average, 1975-95 34

1-5. Markets for Selected Financial Derivative Instruments, 1989-96 36

1-6. Institutional Investors' Holdings of Foreign Securities, by Type and Country of Investor, 1980-93 39

1-7. Patterns of the Globalization of Trade in Selected Industries in the OECD Countries, 1993 40

1-8. Patterns of the Globalization of Foreign Direct Investment and Cooperative Agreements in Selected Industries in the OECD Countries, 1993 42

1-1. Global Output, Trade, and Foreign Direct Investment, 1980-95 19

1-2. Composition of Domestic and International Strategic Technology Alliances, by Industry, 1990-93 24

1-3. Global Trade, Foreign Direct Investment, and Portfolio Investment Flows, 1980-95 30

1-4 Cross-Border Trading in Equities, 1979-95 31

1-5. Concentration of Global Foreign Direct Investment Stock, by Country of Origin, 1914, 1960, 1966 46.

Notes:

Includes bibliographical references (pages 232-298) and index.

ISBN:

0815773900

0815773897

OCLC:

38410124