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Disziplinierung der nationalen Wirtschaftspolitik: durch die internationale Kapitalmobilität

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  • Siebert, Horst

Abstract

The paper discusses the impact of high capital mobility for monetary and budget policy as well as for the Provision of public goods, for taxation, for wage policy and trade unions, for distribution policy, and for social security Systems. The mobility of porrfolio capital puts additional restraints on monetary and fiscal policy of governments, the mobility of real capital restricts the maneuvering space of governments (in redefining the opportunity costs of government decisions in open economies). It is shown that competition between governments does not degenerate but serves as a mechanism to reduce costs and to discover new institutional arrangements.

Suggested Citation

  • Siebert, Horst, 1997. "Disziplinierung der nationalen Wirtschaftspolitik: durch die internationale Kapitalmobilität," Kiel Working Papers 832, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:832
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    References listed on IDEAS

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    Cited by:

    1. Berthold Norbert & Neumann Michael, 2004. "Ballungsprozesse im Standortwettbewerb der deutschen Bundesländer," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 55(1), pages 169-190, January.
    2. Bohnet, Armin & Schratzenstaller, Margit, 2001. "Der Einfluss der Globalisierung auf staatliche Handlungsspielräume und die Zielverwirklichungsmöglichkeiten gesellschaftlicher Gruppen," Discussion Papers 2, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).
    3. Sinn, Hans-Werner, 1998. "European Integration and the Future of the Welfare State," CEPR Discussion Papers 1871, C.E.P.R. Discussion Papers.
    4. Preuße, Heinz Gert, 1997. "Regionalisation in a global economy some lessons from the European experience," Tübinger Diskussionsbeiträge 120, University of Tübingen, School of Business and Economics.

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    More about this item

    JEL classification:

    • F00 - International Economics - - General - - - General
    • H1 - Public Economics - - Structure and Scope of Government

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