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Distinguished Lecture on Economics in Government: Reflections on Managing Global Integration

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  • Lawrence H. Summers

Abstract

On the topic of globalization and economic integration, I want to address five subjects: The first is the extent of global integration that has taken place and that lies in prospect. The second is the broad case for economic integration and why domestic and global efforts to promote that case have not been more successful. The third is the challenge to policymakers that is posed by what I have called the "economic integration trilemma" --the difficulty of combining the three goals of greater economic integration, proper public economic management, and national sovereignty in a world in which any one of these goals can conflict with the other two. Fourth, I want to reflect on some of the policy implications of increased integration in one area that has been highlighted by the crises in Asia, Russia, and elsewhere: the international capital market. Finally, I will offer some concluding observations about the special role for the United States as the world's only economic superpower in managing global integration.

Suggested Citation

  • Lawrence H. Summers, 1999. "Distinguished Lecture on Economics in Government: Reflections on Managing Global Integration," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 3-18, Spring.
    • Handle: RePEc:aea:jecper:v:13:y:1999:i:2:p:3-18
    Note: DOI: 10.1257/jep.13.2.3
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.2.3
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    References listed on IDEAS

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    Cited by:

    1. Robert O. Keohane, 1999. "Politics of the international monetary system: an address," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 43(Jun), pages 173-179.
    2. Kokko, Ari, 2006. "The Home Country Effects Of Fdi In Developed Economies," EIJS Working Paper Series 225, Stockholm School of Economics, The European Institute of Japanese Studies.
    3. Peter A. Coclanis & Tilak Doshi, 2000. "Globalization in Southeast Asia," The ANNALS of the American Academy of Political and Social Science, , vol. 570(1), pages 49-64, July.
    4. Mattoo, Aaditya & Rathindran, Randeep, 2006. "Measuring Services Trade Liberalization and Its Impact on Economic Growth: An Illustration," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 21, pages 64-98.
    5. Shujun Chao & Shanyong Wang & Haidong Li & Shu Yang, 2023. "The power of culture: Does Confucian culture contribute to corporate environmental information disclosure?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2435-2456, September.
    6. ., 2010. "Korea's Economic Policy in Transition: Evolution, Assessment and Future Direction," Chapters, in: The Korean Economy in Transition, chapter 1, Edward Elgar Publishing.
    7. Shinji Takagi, 2010. "Applying the Lessons of Asia : The IMF’s Crisis Management Strategy in 2008," Macroeconomics Working Papers 22822, East Asian Bureau of Economic Research.
    8. Muhammad Tariq Majeed & Amna Malik, 2016. "E-government, Economic Growth and Trade: A Simultaneous Equation Approach," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 55(4), pages 499-519.
    9. Andreas Polk, 2002. "Lobbying Activities of Multinational Firms," SOI - Working Papers 0205, Socioeconomic Institute - University of Zurich, revised Jun 2002.

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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration

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