The choice of domestic policies in a globalized economy: Extended Version

Justina A. V. Fischer

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the socio-economic adjustment effects exerted by globalization (taking as starting points competitive pressure, sectoral shifts, and financial market contagion) and discusses their relevance for domestic policy-making. I argue that these economic pressures and the resulting transformations in the domestic economy constrain government’s policy choice set to an extent that actual policies are quite freed from any political ideological context. However, important government tasks in a globalized economy remain: remedying information asymmetries between buyers and sellers, regulating markets to combat externalities, as well as providing essential goods.

Keywords: globalization; trade; domestic policy; deregulation; competition; financial markets; government intervention (search for similar items in EconPapers)
JEL-codes: D62 D82 F01 F15 F16 F18 F42 G15 H41 (search for similar items in EconPapers)
Date: 2012-04-03
New Economics Papers: this item is included in nep-pol and nep-pub
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:37816

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