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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/4124
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| Title: | | The concept of a world economic order  |
| Authors: | | Siebert, Horst |
| Issue Date: | | 2008 |
| Series/Report no.: | | Kieler Arbeitspapiere 1392 |
| Abstract: | | This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is developed, for instance through decentralization of decisions, property rights, territoriality and the internalization of border-crossing negative externalities and mechanisms for global public goods. Some aspects of the rule system are studied including the process of ceding sovereignty and philosophical thoughts on international rules. |
| Subjects: | | International rules Transaction costs Welfare gains of rules Property rights Hierarchy of rules Concept of order Freiburg school |
| JEL: | | A12 F02 F15 K00 N00 P00 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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