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Globalization and the (mis)governance of nations
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Blouin, Arthur, Ghosal, Sayantan and Mukand, Sharun W. (2012) Globalization and the (mis)governance of nations. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2012 (Number 69). (Unpublished)
Text (Working paper)
WRAP_69.2012_mukand.pdf - Published Version Download (712Kb) |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
We analyze whether or not the globalization of capital, `disciplines' governments and improves governance. We demonstrate that globalization affects governance, by increasing a country's vulnerability to sudden capital
flight. This increased threat of capital flight can discipline governments and improve governance and welfare by placing countries in a `golden straitjacket'. However, globalization may also `overdiscipline' governments - resulting in a perverse impact on governmental incentives that catalyzes (mis)governance. Accordingly, the paper suggests a novel (and qualifed) role for capital controls. Finally, we provide some suggestive evidence consistent with the predictions from our theoretical framework.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce |
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Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Globalization, Economic development , Economic policy, Capital movements | ||||
Series Name: | CAGE Online Working Paper Series | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry, UK | ||||
Official Date: | January 2012 | ||||
Dates: |
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Volume: | Volume 2012 | ||||
Number: | Number 69 | ||||
Number of Pages: | 43 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 |
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