Rules for the global economy / Horst Siebert.

Format:

Book

Author/Creator:

Siebert, Horst, 1938-2009.

Language:

English

Subjects (All):

International economic relations.

Economics.

Physical Description:

1 online resource (289 p.)

Edition:

Course Book

Place of Publication:

Princeton, NJ : Princeton University Press, c2009.

Language Note:

English

Summary:

Rules for the Global Economy is a timely examination of the conditions under which international rules of globalization come into existence, enabling world economic and financial systems to function and stabilize. Horst Siebert, a leading figure in international economics, explains that these institutional arrangements, such as the ones that govern banking, emerge when countries fail to solve economic problems on their own and cede part of their sovereignty to an international order. Siebert demonstrates that the rules result from a trial-and-error process--and usually after a crisis--in order to prevent pointless transaction costs and risks. Using an accessible and nonmathematical approach, Siebert links the rules to four areas: international trade relations, factor movements, financial flows, and the environment. He looks at the international division of labor in the trade of goods and services; flow of capital; diffusion of technology; migration of people, including labor and human capital; protection of the global environment; and stability of the monetary-financial system. He discusses the role of ethical norms and human rights in defining international regulations, and argues that the benefits of any rules system should be direct and visible. Comprehensively supporting rules-based interactions among international players, the book considers future issues of the global rules system.

Contents:

Frontmatter

Contents

Foreword / Hufbauer, Gary Clyde

Preface

I. The Concept of aWorld Economic Order

II. Globalization and Its Impact on the International Rule System

III. How Rules Are Established

IV. How Rules Are Stabilized

V. Rules for International Product Markets

VI. Rules for Border-Crossing Factor Movements

VII. Rules for the Global Environment

VIII. Preventing Financial Instability

IX. Avoiding Currency Crises

X. Ethical Norms, Human Rights, Fairness, and Legitimacy: Restraints for the International Rule System

XI. Interdependence of Orders, Structure of the Rule System, and Institutional Fit

XII. Major Challenges to the Rule System in the Future

References and Further Reading

Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. [249]-262) and index.

ISBN:

9786612820960

9781282820968

1282820966

9781400830725

1400830729

OCLC:

670429777