Globalization and Institutions: Redefining the Rules of the Economic Game(New Horizons in Institutional and Evolutionary Economics series)

This volume investigates the relationship between economic globalization and institutions, or global governance, challenging the common assumption that globalization and institutionalization are essentially processes which exclude each other. Instead, the contributors to this book show that globalization is better perceived as a dual process of institutional change at the national level, and institution building at the transnational level. Rich, supporting empirical evidence is provided along with a theoretical conceptualization of the main actors, mechanisms and conditions involved in trickle-up and trickle-down trajectories through which national institutional systems are being transformed and transnational rules emerge.The book collectively argues that transnational institution building is one of the most striking features of the current period of internationalization. As a consequence, debates concerning globalization and global governance have to be reformulated. The authors posit that globalization is not threatening governance, but in fact globalization reflects a particular type of governance. The dilemma, therefore, is not between globalization and institutions, but between different meanings of governance and the balance that should be reached between them. Globalization and Institutions will be of special interest to academics and scholars of institutional economics, globalization and management. However, with its focus on two key debates for which there is clearly rising interest, many social scientists will find the book of interest.

Table of Contents:
Contents: Introduction: Governing Globalization – Bringing Institutions Back In 1. Theoretical Building Blocks for a Research Agenda Linking Globalization and Institutions Part I: Globalization and National Institutional Change 2. Global Investors Meet Local Managers: Shareholder Value in the Finnish Context 3. Building up an Asset Management Industry: Forays of an Anglo-Saxon Logic into the French Business System 4. Message and Medium: The Role of Consulting Firms in Globalization and its Load Interpretation 5. Changing Transnational Institutions and the Management of International Business Transactions Part II: Globalization and Transnational Institution Building 6. Coordinating Transnational Competition: Changing Patterns in the European Pulp and Paper Industry 7. Path-dependent National Systems or European Convergence? The Case of European Electricity Markets 8. Europe’s Special Case: The Five Corners of Business–state Interactions 9. Multilateral Rulemaking: Transatlantic Struggles Around Genetically Modified Food 10. Innovations in Governance: Global Structuring and the Field of Public Exchange-Traded Markets 11. Structuring Dispute Resolution in Transnational Trade: Competition and Coevolution of Public and Private Institutions Conclusion: Globalization as a Double Process of Institutional Change and Institution Building Index