What are the right institutions in a globalizing world? and... can we keep them if we have found them?

Roumeen Islam

No 3448, Policy Research Working Paper Series from The World Bank

Abstract: Greater trade integration has often been viewed as requiring greater standardization in institutions, without which the benefits of trade do not materialize. There are many current debates concerning the degree and area of standardization needed and these debates are likely to continue for the foreseeable future. This paper, drawing on both the fiscal federalism and the trade literature, argues that increasing trade integration is consistent with a wide array of institutional choices. The final outcome, in terms of which institutions have prevailed, has depended substantially on political pressures for standardization and not necessarily on a clear assessment of economic gains.

Keywords: Labor Policies; Environmental Economics&Policies; Economic Theory&Research; Decentralization; Banks&Banking Reform; Environmental Economics&Policies; Economic Theory&Research; Banks&Banking Reform; National Governance; Trade and Regional Integration (search for similar items in EconPapers)
Date: 2004-11-01
New Economics Papers: this item is included in nep-reg
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:3448

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