Governing Globalization

Issues and Institutions

Deepak Nayyar (, Vice-Chancellor, University of Delhi)

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English

Oxford University Press
01 October 2002

Globalization; International institutions; International economics; Political economy

Series: WIDER Studies in Development Economics

It is now more than fifty years since the United Nations system and the Bretton Woods institutions were created.

The world has changed since then, and so have its governance needs in terms of institutions and rules. It is time to think about the contours of institutions and governance that would meet the needs of the world economy, and also polity, at least for the first quarter of the twenty-first century. This book is among the first to examine the subject in depth.

The study is divided into four parts. The first situates the subject in the wider context of globalization which has shaped development in the world economy, affected the living conditions of people, and constrained the role of nation states. The international context and the national setting are explored. The second part analyses some issues of emerging significance in the contemporary world, such as global macroeconomic management, transnational corporations, international capital flows, and cross-border movements of people, to suggest that there are some missing institutions which are needed. The third part provides a critical evaluation of the existing institutions, in retrospect, with a focus on the UN, the IMF, the World Bank, and the WTO. It analyses how existing rules need to be modified or existing institutions need to be restructured to meet the present and future needs of global governance. The fourth part explores some important elements of governance which are critical for any vision of the future. It suggests some changes in existing institutions and points to emerging governance needs where new institutions may have to be created.

This authoritative volume will be of value to readers with an interest in international economics, development economics, and international relations. It will also be of value to practitioners, both policy-makers and diplomats, concerned with problems of global governance, and should become the standard reference on the subject.

Edited by: Deepak Nayyar ( Vice-Chancellor University of Delhi)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 157mm, Spine: 23mm
Weight: 1g
ISBN: 9780199254040
ISBN 10: 0199254044
Series: WIDER Studies in Development Economics
Pages: 408
Publication Date: 01 October 2002
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Deepak Nayyar is currently Vice-Chancellor of the University of Delhi. During his career he has taught economics at the University of Oxford, the University of Sussex, the Indian Institute of Management, Calcutta, and Jawaharlal Nehru University, New Delhi. His academic life has been interspersed with short periods in government, most notably as Chief Economic Adviser to the Government of India and Permanent Secretary in the Ministry of Finance. Professor Nayyar is a member of many commissions, committees and boards, both national and international.

Reviews for Governing Globalization: Issues and Institutions

Dieter Helm has produced a retrospective review of what has become known as the British electricity experiment, coupling it with coverage of parallel developments in the gas sector. He is well placed to do so, having sat on a range of government committees as an academic adviser, and he brings critical insights to the troubled interactions between the state and market forces. Times Higher Education Supplement ... excellent ... In a world shaped by Gradgrindian economic rationalism research that seeks to redress the devastating social and distributional inequities determined by those policies is a refreshing stimulus for political and economic policy change. This is an invaluable text for the theorist, policy maker and teacher seeking to understand the mechanisms of international institutional intervention. Australian Journal of Political Science