Modern globalization (which includes free flows of trade and factors of production across frontiers, stable rates of exchange, the containment of warfare and mercantilism, the preservation of the environment and latterly the protection of cities against rogue states and terrorism) are among the...

This paper examines leadership in relation to supplying a global public good. Both the Kyoto Protocol and the Paris Agreement encourage the developed countries to take a lead in reducing emissions. Does a country benefit from taking a lead? When does leadership improve global welfare? The answer...