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The market-internalization framework can be applied to non-economic institutions because society's nonmarket subsystems – political, social and cultural – are subject to failures just like economic markets, and firms can contribute to their repair or replacement by selectively, strategically...
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There is anecdotal evidence suggesting that those losing from globalization influence policy makers to decrease the … openness of their countries to globalization, as evidenced by signing international trade and investment agreements … greater within-country inequality, our proxy for 'perceived losses' from globalization, decreases countries' propensity to …
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