The Economics of Globalization
Policy Perspectives from Public Economics

This collection, by a group of internationally known experts examines the globalization of independent economic systems.

Assaf Razin (Edited by), Efraim Sadka (Edited by)

9780521074353, Cambridge University Press

Paperback / softback, published 28 August 2008

436 pages, 27 b/w illus. 36 tables
23.5 x 15.8 x 2.5 cm, 0.64 kg

The growing economic openness expressed in the globalization of independent economic systems has created problems as well as opportunities that cross formal borders in unexpected ways. Professors Assaf Razin and Efraim Sadka explore the ramifications of globalization in selected public finance issue areas. Seven main topics are covered by the sixteen papers in the volume: the international mobility of technology; capital flows and exchange rate misalignments; tax incentives and patterns of capital flows; income redistribution and social insurance in federal systems; tax harmonization and coordination; political economy aspects of international tax competition; the migration of skilled and unskilled labour; and the fiscal aspects of monetary unification.

Introduction Assaf Razin and Effraim Sadka
Part I. International Mobility of Technology: 1. R and D and productivity: the international connection Elhanan Helpman
Part II. Capital Flows and Exchange Rate Misalignment: 2. International implications of German unification Hans-Werner Sinn
3. Real exchange rate misalignment and growth Ofair Razin and Susan M. Collins
Part III. The Incentives and Patterns of Capital Flows: 4. A pecking order of capital inflows and international tax principles Assaf Razin, Efraim Sadka, and Chi-Wa Yuen
5. Transfer pricing as a strategic device for decentralized multinationals Guttorm Schjelderup and Lars Sorgard
Part IV. Limits to Income Redistribution in Federal Systems: 6. Income redistribution in an economic union: the tradeoff between inter- and international redistribution Helmuth Cremer and Pierre Pestieau
7. Federal insurance of US states: an empirical investigation Bent E. Sorensen and Oved Yosha
Part V. Tax Harmonization, Tax Co-ordination, and the 'Disappearing Taxpayer': 8. Is there a need for a world tax organization? Vito Tanzi
9. Taxation, financial innovation, and integrated financial markets: some implications for tax coordination in the European Union Julian S. Alworth
10. Can international commodity tax harmonization be Pareto-improved when governments supply Public Goods? Ben Lockwood
11. Fiscal separation with economic integration: Israel and the Palestinian authority Ephraim Kleiman
Part VI. Political Economy Aspects of International Tax Competition: 12. Factor taxation, income distribution, and capital market integration Andreas Haufler
13. Interjurisdictional tax competition: a political economy perspective Carlo Perroni and Kimberley Scharf
Part VII. Migration of Skilled and Unskilled Labor: 14. Economic integration, factor mobility, and wage convergence Gilles Saint-Paul
15. Human capital formation, asymmetric information, and the dynamics of international migration Nancy H. Chau and Oded Stark
Part VIII. Fiscal Aspects of Monetary Unification: 16. The interaction of fiscal and monetary policy in a monetary union: balancing credibility and flexibility Roel M. W. J. Beetsma and A. Lans Bovenberg.

Subject Areas: International economics [KCL]