to trade and the size of its government sector. This association holds for a large cross-section of countries, in low- as … government consumption plays a risk-reducing role in economies exposed to a significant amount of external risk. When openness is … paper also demonstrates that government consumption is the ‘safe’ activity, in the empirically relevant sense, in the vast …

not automatic, and requires better domestic institutions, essentially improved safety nets in rich countries and improved … for the global economy. The gains to be reaped by further liberalization of markets are meager for poor and rich countries … alike. An alternative approach to globalization would focus on enhancing policy space rather than market access, and on …

The nation-state system, democratic politics, and full economic integration are mutually incompatible. Of the three, at … most two can be had together. The Bretton Woods/GATT regime was successful because its architects subjugated international … economic integration to the needs and demands of national economic management and democratic politics. A renewed ‘Bretton …