Rules for the Global Economy / / Horst Siebert.

• VerfasserIn: Siebert, Horst,
• MitwirkendeR: Hufbauer, Gary Clyde,
• TeilnehmendeR: Hufbauer, Gary.
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2009]; ©2009
• Year of Publication: 2009
• Edition: Course Book
• Language: English
• Physical Description: 1 online resource (288 p.)
• Other title: Frontmatter --; Contents --; Foreword --; Preface --; I. The Concept of aWorld Economic Order --; II. Globalization and Its Impact on the International Rule System --; III. How Rules Are Established --; IV. How Rules Are Stabilized --; V. Rules for International Product Markets --; VI. Rules for Border-Crossing Factor Movements --; VII. Rules for the Global Environment --; VIII. Preventing Financial Instability --; IX. Avoiding Currency Crises --; X. Ethical Norms, Human Rights, Fairness, and Legitimacy: Restraints for the International Rule System --; XI. Interdependence of Orders, Structure of the Rule System, and Institutional Fit --; XII. Major Challenges to the Rule System in the Future --; References and Further Reading --; Index
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9781400830725
• DOI: 10.1515/9781400830725
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Horst Siebert.

Rules for the Global Economy is a timely examination of the conditions under which international rules of globalization come into existence, enabling world economic and financial systems to function and stabilize. Horst Siebert, a leading figure in international economics, explains that these institutional arrangements, such as the ones that govern banking, emerge when countries fail to solve economic problems on their own and cede part of their sovereignty to an international order. Siebert demonstrates that the rules result from a trial-and-error process--and usually after a crisis--in order to prevent pointless transaction costs and risks. Using an accessible and nonmathematical approach, Siebert links the rules to four areas: international trade relations, factor movements, financial flows, and the environment. He looks at the international division of labor in the trade of goods and services; flow of capital; diffusion of technology; migration of people, including labor and human capital; protection of the global environment; and stability of the monetary-financial system. He discusses the role of ethical norms and human rights in defining international regulations, and argues that the benefits of any rules system should be direct and visible. Comprehensively supporting rules-based interactions among international players, the book considers future issues of the global rules system.