Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Solvency is an intertemporal concept, relating to the present value of revenues and expenditures, and encompassing both assets and liabilities. But the standard practice among policy makers, financial market participants and international financial institutions is to assess the strength of the fiscal accounts solely on the basis of the cash deficit. Short-term cash flows matter, but a preponderant focus on them can encourage governments to invest too little, especially during episodes of fiscal tightening. This has potentially adverse consequences for growth and, paradoxically, even for fiscal solvency itself. The paper offers an overview of the links between fiscal targets, public investment, and public sector solvency. After reviewing the international experience with public investment under fiscal adjustment, the paper lays out an analytical framework to illustrate the consequences of using the public deficit as a guide to solvency. The paper then discusses some alternatives to conventional cash deficit rules and their implications for investment and fiscal solvency.

Access to Finance --- Cash Flows --- Debt Markets --- Expenditures --- Finance and Financial Sector Development --- Financial Market --- Financial Market Participants --- Financial Markets --- Fiscal Policy --- International Bank --- International Financial Institutions --- Investment and Investment Climate --- Macroeconomics and Economic Growth --- Public Investment --- Public Sector Economics and Finance --- Public Sector Expenditure Analysis and Management --- Solvency

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Critics of globalization claim that economic integration drains political authority from states: devolving authority to newly empowered regions, delegating it to supranational organizations, and transferring it to multinational firms and nongovernmental organizations. Globalization is also attacked for forcing convergence of state institutions and policies and threatening the ability of societies to chart their own democratically determined courses. In Governance in a Global Economy, Miles Kahler and David Lake assemble the contributions of seventeen leading scholars who have systematically investigated how global economic integration produces changes of governance. These authors conclude that globalization has created a new and intricate fabric of governance, but one that fails to match the stark portrait of beleaguered states. Exploring changes in governance across several policy areas (such as tourism, trade, finance, and fiscal and monetary policy), the authors demonstrate that globalization changes the policy preferences of some actors, increases the bargaining power of others, and opens new institutional options for yet others. By reintroducing agency and choice into our understanding of globalization, this book provides important new insights into the complex and contingent effects of globalization on political authority and governance. The introduction and the conclusion are by the editors the contributors are James A. Caporaso, Benjamin J. Cohen, Barry Eichengreen, Zachary Elkins, Geoffrey Garrett, Peter Gourevitch, Virginia Haufler, Michael J. Hiscox, Robert O. Keohane, Lisa L. Martin, Walter Mattli, Kathleen R. McNamara, Joseph S. Nye, Jr., Jonathan Rodden, Ronald Rogowski, Beth A. Simmons, and Peter Van Houten.

International economic relations --- Economic policy and planning (general) --- Corporate governance --- International business enterprises --- -International business enterprises --- -Globalization --- -Business enterprises, International --- Corporations, International --- Global corporations --- International corporations --- MNEs (International business enterprises) --- Multinational corporations --- Multinational enterprises --- Transnational corporations --- Business enterprises --- Corporations --- Joint ventures --- Governance, Corporate --- Industrial management --- Directors of corporations --- Global cities --- Globalisation --- Internationalization --- International relations --- Anti-globalization movement --- Management --- Government policy --- Political aspects --- #A0402PSA --- -Management --- -Governance, Corporate --- Business enterprises, International --- POLITICAL SCIENCE / International Relations / General --- Globalization --- Corporate governance. --- Internationale ondernemingen. --- Politieke aspecten. --- Internationalisatie. --- Weltwirtschaft --- Governance --- Politik --- Globalisierung --- Global Governance --- 83.83 large-scale enterprise. --- Mondialisation --- Entreprises multinationales --- Gouvernement d'entreprise. --- Political aspects. --- Government policy. --- Management. --- Aspect politique. --- Politique gouvernementale. --- Gestion. --- -Global cities --- Internationale Politik --- Weltgesellschaft --- Internationalisierung --- Staatspolitik --- Politische Lage --- Politische Entwicklung --- Politische Situation --- Politische Steuerung --- Internationale Wirtschaft --- Internationale Wirtschaftsbeziehungen --- Internationale Wirtschaftspolitik --- Accountability. --- Bank for International Settlements. --- Business economics. --- Capital control. --- Capital cost. --- Capital gain. --- Capital market. --- Capitalism. --- Central bank. --- Competition (economics). --- Consumer organization. --- Consumption (economics). --- Corporate capitalism. --- Corporate social responsibility. --- Currency. --- Decentralization. --- Developed country. --- Economic Life. --- Economic cost. --- Economic development. --- Economic geography. --- Economic globalization. --- Economic history. --- Economic integration. --- Economic interventionism. --- Economic liberalization. --- Economic model. --- Economic planning. --- Economic policy. --- Economic problem. --- Economics. --- Economy and Society. --- Economy. --- Environmental economics. --- Euromarket. --- Externality. --- Financial World. --- Financial capital. --- Financial market participants. --- Fiscal policy. --- Foreign direct investment. --- Free trade debate. --- Global Exchange. --- Global Finance (magazine). --- Global Policy. --- Global financial system. --- Global governance. --- Global production network. --- Global warming. --- Globalism. --- Globalization. --- Governance. --- Hedge fund. --- Index Of Economic Freedom. --- Industrialisation. --- Industry self-regulation. --- Institute of International Finance. --- Institution. --- Institutional economics. --- International Financial Reporting Standards. --- International Monetary Fund. --- International financial institutions. --- International monetary systems. --- International organization. --- International political economy. --- International relations. --- International trade. --- Internationalism (politics). --- Journal of Economic Perspectives. --- Liberalization. --- Long-Term Capital Management. --- Macroeconomics. --- Market economy. --- Market integration. --- Market portfolio. --- Monetary policy. --- Money market. --- Neoclassical Growth Theory. --- New International Economic Order. --- OECD Development Centre. --- Political economy. --- Political entrepreneur. --- Prospectus (finance). --- Public finance. --- Regulatory competition. --- Shareholder. --- Tourism. --- Trade and development. --- Transition economy. --- Transnational governance. --- United Nations Environment Programme. --- Working Group on Financial Markets. --- World Bank. --- World Business Council for Sustainable Development. --- World Development Indicators. --- World Politics. --- World Trade Organization. --- World Wide Web Consortium. --- World economy.