The Handbook of Globalisation

584 Pages·2011·7.754 MB·English

by  Jonathan Michie

THE HANDBOOK OF GLOBALISATION, SECOND
EDITION

The Handbook of Globalisation,
Second Edition
Edited by
Jonathan Michie
Director, Department for Continuing Education and President,
Kellogg College, University of Oxford, UK
Edward Elgar
Cheltenham, UK • Northampton, MA, USA
© Jonathan Michie 2011
All rights reserved. No part of this publication may be reproduced, stored in a retrieval
system or transmitted in any form or by any means, electronic, mechanical or
photocopying, recording, or otherwise without the prior permission of the publisher.
Published by
Edward Elgar Publishing Limited
The Lypiatts
15 Lansdown Road
Cheltenham
Glos GL50 2JA
UK
Edward Elgar Publishing, Inc.
William Pratt House
9 Dewey Court
Northampton
Massachusetts 01060
USA
A catalogue record for this book
is available from the British Library
Library of Congress Control Number: 2010939211
ISBN 978 1 84980 369 4 (cased)
ISBN 978 1 84980 376 2 (paperback)
Typeset by Manton Typesetters, Louth, Lincolnshire, UK
Printed and bound by MPG Books Group, UK
1
0
Contents
List of contributors ix
Globalisation: introduction and overview 1
Jonathan Michie
PART I GLOBALISATION IN QUESTION?
1 The future of globalisation 19
Paul Hirst and Grahame Thompson
2 Financial globalization? History, conditions and prospects 39
Grahame Thompson
3 The scope and implications of globalisation 60
Jonathan Perraton
4 Measures of globalisation and their misinterpretation 87
Bob Sutcliffe and Andrew Glyn
PART II ANALYSING THE GLOBAL ECONOMY
5 Innovation and globalisation: a systems of innovation perspective 107
Jeremy Howells
6 The international debt crisis 117
Gary Dymski
7 National inequality in the era of globalisation: what do recent data
tell us? 135
José Gabriel Palma
PART III TRANSNATIONAL CORPORATIONS
8 The role of transnational corporations in the globalisation process 173
Grazia Ietto-Gillies
9 The role and control of multinational corporations in the world
economy 185
Gerald Epstein
10 Foreign direct investment and development from a gender
perspective 200
Elissa Braunstein
v
vi The handbook of globalisation
PART IV LABOUR STANDARDS
11 The minimum wage in a global context 215
Peter Brosnan
12 Globalisation, labour standards and economic development 230
Ajit Singh and Ann Zammit
13 Global labor standards: their impact and implementation 257
James Heintz
PART V EUROPE AND NORTH AMERICA
14 Productivity and competition from a global point of view 277
Joseph Plasmans
15 European integration and the ‘euro project’ 313
Philip Arestis and Malcolm Sawyer
16 The North American Free Trade Agreement: context, structure and
performance 324
Jim Stanford
17 The low road to competitive failure: immigrant labour and
emigrant jobs in the US 356
Charles Craypo and Frank Wilkinson
PART VI GOVERNANCE
18 Governance in a globalised world 381
Richard Woodward
19 Global governance 393
Mathias Koenig-Archibugi
20 The political economy of the third way: the relationship between
globalisation and national economic policy 407
Simon Lee
PART VII INTERNATIONAL ECONOMIC INSTITUTIONS
21 The WTO and its GATS 423
Scott Sinclair
22 The International Monetary Fund and the World Bank 433
John Toye
23 A new ‘Bretton Woods’ system? 448
Mic´a Panic´
Contents vii
PART VIII POLICY IMPLICATIONS AND RESPONSES
24 Kicking away the ladder – globalisation and economic
development in historical perspective 465
Ha-Joon Chang
25 Time to replace globalisation with localisation 475
Colin Hines
26 Free trade or social tariffs? 483
George DeMartino
27 Global inequality and the global financial crisis: the new
transmission mechanism 495
Photis Lysandrou
28 The great crash of 2008 and the reform of economics 518
Geoffrey M. Hodgson
Index 539

Contributors
Philip Arestis, Cambridge Centre for Economic and Public Policy, Department
of Land Economy, University of Cambridge, UK; and Department of Applied
Economics, University of the Basque Country, Spain
Elissa Braunstein, Associate Professor, Department of Economics, Colorado
State University, USA
Peter Brosnan, Emeritus Professor of Industrial Relations, Griffith University,
Australia
Ha-Joon Chang, Faculty of Economics, University of Cambridge, UK
The late Charles Craypo, formerly Professor Emeritus, Economics Depart-
ment, University of Notre Dame, USA
George DeMartino, Professor, Josef Korbel School of International Studies,
University of Denver, USA
Gary Dymski, Department of Economics, University of California, USA
Gerald Epstein, Professor of Economics and Co-Director, Political Economy
Research Institute, University of Massachusetts Amherst, USA
The late Andrew Glyn, formerly Fellow in Economics at Corpus Christi Col-
lege, Oxford, UK
James Heintz, Associate Research Professor, Political Economy Research
Institute, University of Massachusetts
Colin Hines, Co-Director of Finance for the Future, former head of Greenpeace
International’s Economics Unit
The late Paul Hirst, formerly Professor of Social Theory, Birkbeck College,
University of London, UK
Geoffrey M. Hodgson, Research Professor in Business Studies at the University
of Hertfordshire, UK
ix