Global Public Policy Governing without Government?

by Reinicke, Wolfgang H.

• ISBN13: 9780815773894
• ISBN10: 0815773897
• Format: Paperback
• Copyright: 1998-04-01
• Publisher: Brookings Institution Press

Summary

During the last decade "globalization" has become a fashion among policymakers and academics alike. Not one day 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.

Author Biography

Wolfgang H. Reinicke is a senior economist in the Corporate Strategy Group at the World Bank, a nonresident senior fellow in the Foreign Policy Studies program at the Brookings Institution, and a fellow of the World Economic Forum, Switzerland.

Table of Contents

Introduction	p. 1
Globalization of Economic Activity: Definition, Sources, Measurement, and Limits	p. 11
Definition and Sources	p. 11
Measurement	p. 18
Limits to Globalization: Sectoral, Geographic and Historical	p. 39
Globalization and Public Policy: An Analytical Framework	p. 52
Interdependence: Challenges to External Sovereignty	p. 54
Globalization: Challenges to Internal Sovereignty	p. 62
Policy Responses: Matching Economic and Political Geography	p. 75
Defensive Intervention	p. 76
Offensive Intervention	p. 78
Intervention in Practice	p. 80
Global Public Policy	p. 85
Implementing Global Public Policy	p. 87
Horizontal Subsidiarity: A Case Study	p. 93
Implications for Policy	p. 97
Global Financial Markets: Pioneers in Global Public Policy	p. 102
The Basle Accord: Anatomy of a Global Regulatory Agreement	p. 103
The Lessons of Basle	p. 113
Beyond Basle: New Challenges Facing Global Public Policy	p. 118
Global Crime and Public Policy: The Case of Money Laundering	p. 135
U.S. Anti-Money Laundering Initiatives and the Emergence of Horizontal Subsidiarity	p. 139
Toward a Global Anti-Money Laundering Regime	p. 156
From Denial to Disclosure: Dual-Use Trade in a Globalizing Industry	p. 173
A New Environment	p. 174
The Wassenaar Arrangment	p. 180
Toward Disclosure-Based Regulation	p. 186
From National to Global Dual-Use Controls	p. 199
Conclusion	p. 218
Keeping Up with the Times	p. 222
Implications for International Security	p. 223
Toward Global Public Policy	p. 227
Back to the Future	p. 229
Notes	p. 232
Index	p. 299
Tables
Degree of Transnationalization of U.S. Nonbank Transnational Corporations by Sector, 1983-91	p. 20
Ratio of Imported to Domestic Sourcing of Intermediate Inputs for Six OECD Countries	p. 29
Foreign Holding of Central Government Debt in Six OECD Countries, 1980-92	p. 32
Private Sector Capital Outflows from Major Industrialized Countries, Annual Average, 1975-95	p. 34
Markets for Selected Financial Derivative Instruments, 1989-96	p. 36
Institutional Investors' Holdings of Foreign Securities, by Type and Country of Investor, 1980-93	p. 39
Patterns of the Globalization of Trade in Selected Industries in the OECD Countries, 1993	p. 40
Patterns of the Globalization of Foreign Direct Investment and Cooperative Agreements in Selected Industries in the OECD Countries, 1993	p. 42
Figures
Global Output, Trade, and Foreign Direct Investment, 1980-95	p. 19
Composition of Domestic and International Strategic Technology Alliances, by Industry, 1990-93	p. 24
Global Trade, Foreign Direct Investment, and Portfolio Investment Flows, 1980-95	p. 30
Cross-Border Trading in Equities, 1979-95	p. 31
Concentration of Global Foreign Direct Investment Stock, by Country of Origin, 1914, 1960, 1966	p. 46
Table of Contents provided by Syndetics. All Rights Reserved.