Globalization and National Economic Welfare

M. Panic is a fellow of Selwyn College, University of Cambridge and Visiting Professor of International Economics at the University of Milan, Italy. He is also Vice-Chairman of the United Nations Committee for Development Policy. His previous positions include posts in the Economic Department at the Ford Motor Company, as an Under-Secretary in the UK Government Economic Service and as Head of External Policy Division at the Bank of England and the Bursar of Selwyn College. He has served on a number of international committees and is a member of the United Nations Committee for Development Policy. His publications include numerous books and articles on international economics, policy and industrial economics.

"'This book is one of the most penetrating analyzes of the complex interplay of growing international economic interdependence, institutional dynamics and the changing domains of collective choice.' - Robert Scazzieri, University of Cambridge; 'In this creative response to the large issues raised by globalization, Mica Panic combines broad experience in industry, government, the Bank of England and the United Nations with in-depth academic analysis. He is ideally placed to give both diagnosis and prescription and does so convincingly and in a style accessible to non-economists.' - Professor David Ford, University of Cambridge; 'This is an impressive collection of essays. They are written in a non-technical way that makes them accessible to a fairly wide readership. They also deal with many important issues that the economics profession tends to ignore. Taken as a whole, they provide a coherent and unusual overview of the world economy and its modern evolution and operation. After reading this collection I felt that I had really learned something profound about the forces now shaping the world economy. As someone who is instinctively sceptical of international institutions and international economic regulation, as I read this book I found myself questioning some of my long-held beliefs.' - Bob Rowthorn, Professor of Economics, University of Cambridge, and Fellow of King's College; 'Panic brings an expert economic practitioner's insight to bear on the pressing issues of the management of globalization, but carefully places his economic diagnosis in its necessary historical, political and institutional context.' - Professor Ian Clarke, University of Wales Aberystwyth; Globalization is a phenomenon of major contemporary importance. M.Panic has written an excellent and wide ranging book, covering all the important topics in a clear and comprehensible way. It deals with theory, and economic policy, and is soundly based on what is happening in the real world. It will be of use to experts, students of economics, and informed members of the general public.' - Lord Maurice Peston"

• List of Tables List of Figures Preface Foreword; A.B.Atkinson PART I: INTRODUCTION Globalization: The Meaning, the Claims and the Reality PART II: THE DYNAMICS OF MACROECONOMIC ORGANIZATION Economic Progress and Organization in Capitalist Economies International Economic Integration and the Changing Role of National Governments The Future Role of the State in Eastern Europe PART III: THE ORIGINS OF GLOBALIZATION: INSTITUTIONAL AND SPONTANEOUS Economic Development and Trade Policy Transnational Corporations and the Nation State PART IV: GLOBALIZATION, CO-OPERATION AND SUPRANATIONALISM The Aspirations Gap, Interdependence and Global Inflation International Interdependence and the Debt Problem Banking Supervision in Conditions of Deregulation and Globalization The Bretton Woods System: Concept and Practice The End of the Nation State? Bibliography List of Names Index of Subjects