Event: Global Economic Governance
| Lecture | Wed 6-8 p.m. (c.t.) |
| Tutorial | Thu 6-8 p.m. (c.t.) |
| Audience | Master |
| Credit ponits | 6 |
| Language | english |
Closed economies can be governed within the national institutional framework. This is no longer the case in a globalized world with strong transnational linkages, e.g., through trade or factor mobility. Under these circumstances, there is a need to establish international rules that guarantee smooth operation of the global economy. Since there is no global government, issues such as the enforcement of property rights in the international arena, the provision of global public goods or the internalization of cross-border externalities are difficult to resolve. Setting up a global economic order is therefore a major challenge because it requires not only the coordination of several independent actors (i.e., countries), but the establishment of a coordination mechanism as a first step. Hence, in the course self-enforcing mechanisms and institutions of global governance will be discussed and formal economic analysis is applied to the genesis and functioning of the most important institutions of global economic governance.
ILIAS
Literature:
Selected readings will be provided before and during the class.
New Discussion Paper by Tim Krieger and Danial Nientiedt: The Renaissance of Ordoliberalism in the 1970s and 1980s