Publication: What Are the Right Institutions
in a Globalizing World? And... Can We Keep Them If We Have
Found Them?
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Date
2004-11-01
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Published
2004-11-01
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Abstract
Greater trade integration has often been viewed as requiring greater standardization in institutions, without which the benefits of trade do not materialize. There are many current debates concerning the degree and area of standardization needed and these debates are likely to continue for the foreseeable future. This paper, drawing on both the fiscal federalism and the trade literature, argues that increasing trade integration is consistent with a wide array of institutional choices. The final outcome, in terms of which institutions have prevailed, has depended substantially on political pressures for standardization and not necessarily on a clear assessment of economic gains.
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“Islam, Roumeen. 2004. What Are the Right Institutions
in a Globalizing World? And... Can We Keep Them If We Have
Found Them?. Policy Research Working Paper; No.3448. © World Bank. http://hdl.handle.net/10986/14218 License: CC BY 3.0 IGO.”
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