EMBEDDING GLOBAL MARKETS
To the Memory of Ernst B. Haas Mentor and friend
Embedding Global Markets
An Enduring Challenge
Edited by
JOHN GERARD RUGGIE
Harvard University, USA
First published 2008 by Ashgate Publishing
Published 2016 by Routledge
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Copyright John Gerard Ruggie 2008
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British Library Cataloguing in Publication Data
Embedding global markets : an enduring challenge
1. Globalization - Economic aspects 2. International
economic relations 3. Economics - Political aspects
4. Liberalism
I. Ruggie, John Gerard, 1944
Library of Congress Cataloging-in-Publication Data
Embedding global markets : an enduring challenge / edited by John Gerard Ruggie.
p. cm.
Includes index.
ISBN 978-0-7546-7454-2
1. Globalization--Economic aspects. 2. International economic relations. 3. Economics--Political aspects. 4. Liberalism. I. Ruggie, John Gerard,
1944-
HF1359.E57 2008
337--dc22
2008019108
ISBN 9780754674542 (hbk)
Contents
John Gerard Ruggie
Andrew T.F. Lang
Jacqueline Best
Salvatore Pitruzzello
Dani Rodrik
Jude C. Hays, Sean D. Ehrlich, and Clint Peinhardt
Nita Rudra
Robert Wolfe and Matthew Mendelsohn
John Gerard Ruggie
List of Figures and Tables
Figures
Time Series
Relationship between Openness and Government Expenditures
Partial Relationship between Openness and Government Consumption (when one controls for per capita income, urbanization, dependency ratio, area, and regional dummies)
The Contrast in Government Welfare Spending between Developed and Developing Countries 197295
Trade, Capital Flows, and Welfare Spending in Fifty-three LDCs
Trade, Capital Flows, and Welfare Spending in Fourteen OECD Countries
Surplus Labor in LDCs and Developed Countries from 1972 to 1995 (as % of Economically active population)
Labor Power in LDCs
The Difference between Total Government Spending and Welfare Spending
Tables
Properties of AR(1) Processes
ADF Unit Roots Tests
Rank of : Hypotheses
Rank of : Findings
Normalized Equilibrium Relations: Hypotheses
Long-run Equilibrium Relations: Findings
Adjustment Dynamics: Hypotheses
Adjustment Dynamics: Findings
Openness and Government Spending
Openness and Government Expenditures by Functional Category (198589)
Checking for Robustness and Alternative Explanations (Dependent Variable: Log CGAVG8589)
The Importance of External Risk
Panel Estimation
Effect of External Risk on Social Security and Welfare Expenditures, by Income Groups
Impact of External Risk on Volatility of Income and Consumption (N = 104)
Exogenous Measures of Exposure to External Risk (Dependent Variable: Log CGAVG8589)
List of Variables and Sources
Models of Individual Support for Trade
Simulated Effects of Key Variables on Individual Support for Free Trade
Imports, Deindustrialization, and Government Spending
Effect of Increasing Imports on Government Spending
Summary Statistics for Micro-level Data
Summary Statistics for Micro-level Data
The Growth and Share of Labor-intensive Manufacturing Exports
Country Skill Ratios and Percentages of Surplus Labor
Fixed-effects Regression Estimates: The Relationship between Globalization and Welfare Spending in LDCs
Elasticity of Welfare Spending with Respect to Labor Power
The Effects of Globalization on Welfare Spending in OECD Countries
Data Sources and Definitions
Manufactured Exports
Comparative Assessments of Labor Strength
Contrasting Support for Trade Agreements and Globalization
Explaining Support for Trade Agreements
Explaining Support for Globalization
List of Contributors
Jacqueline Best is Associate Professor of Political Studies at the University of Ottawa. Her book, The Limits of Transparency: Ambiguity and the History of International Finance, was published by Cornell University Press in 2005.
Sean D. Ehrlich is Assistant Professor of Political Science at Florida State University. His research, which has appeared in International Organization and International Studies Quarterly, focuses on the effects of domestic institutions on economic policymaking and on the processes by which policymakers can manage public support for globalization, especially in the face of rising concerns about fair trade.
Jude C. Hays is Assistant Professor of Political Science at the University of Illinois and a Research Fellow at the Cline Center for Democracy. He has published on political economy and methodology in leading journals such as Comparative Political Studies, Political Analysis, International Organization, World Politics and the American Journal of Political Science.
Andrew Lang is a member of the Faculty of Law at the London School of Economics, where he teaches international law, specializing in the law of the World Trade Organization. He previously held a position as Research Fellow at Trinity Hall, University of Cambridge, and is one of two co-founders of the Society of International Economic Law.
Matthew Mendelsohn is currently Deputy Minister and Associate Secretary of the Cabinet, Intergovernmental Affairs, in the Government of Ontario. He is on leave from Queens University, where he is Associate Professor in the Political Studies Department and was the Director of the Canadian Opinion Research Archive.
Clint Peinhardt is Assistant Professor in the School of Economic, Political and Policy Sciences at the University of Texas at Dallas. His recent work examines financial liberalization and foreign investment in low and middle income countries.
Salvatore Pitruzzello is Visiting Fellow at Harvards Center for European Studies (CES). His research investigates the macro long-run historical dynamics linking the co-evolution of welfare states, economic performance and social protection. He specializes in the theory and methodology of time-series co-integration. He is the author of a forthcoming book,
