The Economic And Financial Imperatives Of Globalisation

This book hopes to enlighten readers in the following areas: in understanding existing international trade and finance practices; in exploring the various Islamic guidelines and approaches to international trade and finance; in discussing the Islamic macro-economic responses to the present world economic disorder; and in finding micro-economic solutions (such as Islamic infrastructure financing and corporate bonds) to the present world economic disorder.

The Asian and Argentinian financial crises have focused attention on the most appropriate shape and role for international and national financial institutions. This volume offers a wide-ranging overview of the problems and possible policy responses. Although the approach is multi-disciplinary, most of the contributors write from a political economy perspective.

This work challenges the popular view that globalization threatens the role of the nation-state in determining national policy. It examines the fundamental issue of competitiveness and market power in an increasingly borderless and co-dependent world. Despite this increased threat to the nation-state as an effective manager of the national economy, the authors argue that there are a number of options and alternatives open to governments to protect themselves from the global business cycle.

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The growing economic openness expressed in the globalization of independent economic systems has created problems as well as opportunities that cross formal borders in unexpected ways. Professors Assaf Razin and Efraim Sadka explore the ramifications of globalization in selected public finance issue areas. Seven main topics are covered by the sixteen papers in the volume: the international mobility of technology; capital flows and exchange rate misalignments; tax incentives and patterns of capital flows; income redistribution and social insurance in federal systems; tax harmonization and coordination; political economy aspects of international tax competition; the migration of skilled and unskilled labour; and the fiscal aspects of monetary unification.

History has declared globalization the winner of the 20th century. Globalization connected the world and created wealth unimaginable in the wake of the Second World War. But the financial crisis of 2008-09 has now placed at risk the liberal economic policies behind globalization. Engulfing the entire world, the crisis gave new fuel to the skeptics of the benefits of economic integration. Policy responses seem to favor anti-globalizers. New regulations could balkanize the global financial system, while widespread protectionist impulses might undo the Doha Round. Issues from climate change to national security may be used as convenient excuses to keep imports out, keep jobs at home, and to clamp down on global capital. Will globalization triumph or perish in the 21st century? What reforms make sense in the post-crisis world?International economists Gary Clyde Hufbauer and Kati Suominen argue that globalization has been a force of great good, one that needs to be actively advanced and honed. Drawing on the latest economic analyses, they reveal the drivers and effects of global finance and trade, lay out the key risks to globalization, and offer a practical policy roadmap for managing the challenges while increasing the gains. Vital reading for anyone in business, finance, foreign affairs, or economics, Globalization at Risk is sure to advance public debate on this defining issue of the 21st century.

Shortlisted for the Inaugural International Political Economy Group annual book prize '...amongst the most important books yet written on globalization' - Review of International Political Economy "In this original and very accessible work Cameron and Palan make a major contribution to the narrative turn in political economy. Skillfully combining sustained theoretical critiques and contemporary empirical analyses, this politically engaged book promotes a paradigm shift that sheds new light on the changing relations among the economy, the political, and the social. It will quickly become a major reference point for its account of globalization as a persuasive story and a flawed reality. I recommend it unreservedly" Bob Jessop How do theories, discussions and debates about globalisation shape the very subject they reflect on? How are conceptions of the state, society and politics are changing in the age of globalisation? This book critically introduces the main contemporary debates on globalization and demonstrates how conventional versions or narratives of globalization have served to shape policy responses at both state and corporate levels. Rather than accepting the disintegration of the state thesis, the authors present an alternative transition from the nation-state as a homogenous `imagined community', to a more complex and fluid series of normative economic spaces or `imagined economies'. They illustrate how this respatialization of the contemporary state is rapidly taking shape in concrete institutions, processes, people and places serving to recast the boundaries of the social, political and economic in fundamental ways. By accessibly demonstrating the way in which the discourse of globalization has itself become an integral part of the politics of globalization, The Imagined Economies of Globalization serves as an ideal introduction to key contemporary debates in politics, international relations, geography, international political economy and sociology.