@techreport{Blouin2012Globalization,
abstract = {We analyze whether or not the globalization of capital, disciplines governments and improves governance. We demonstrate that globalization affects governance, by increasing a country's vulnerability to sudden capital flight. This increased threat of capital flight can discipline governments and improve governance and welfare by placing countries in a golden straitjacket. However, globalization may also overdiscipline governments - resulting in a perverse impact on governmental incentives that catalyzes (mis)governance. Accordingly, the paper suggests a novel (and qualified) role for capital controls. Finally, we provide some suggestive evidence consistent with the predictions from our theoretical framework.},
address = {M\"{u}nchen},
author = {Arthur Blouin and Sayantan Ghosal and Sharun Mukand},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F55; F36; 330; globalization; governance; capital flight; capital controls; discipline; Kapitalmarktliberalisierung; Globalisierung; Good Governance; Governance-Ansatz; Regierung; Kapitalflucht; Kapitalverkehrspolitik; Theorie},
language = {eng},
number = {3715},
publisher = {CESifo},
title = {Globalization and the (mis)governance of nations},
type = {CESifo working paper: Monetary Policy and International Finance},
url = {http://hdl.handle.net/10419/55347},
year = {2012}
}
