Titlebook: OPEN States in the Global Economy; The Political Econom Jonathon W. Moses Book 2000 Jonathon W. Moses 2000 economic policy.globalization.ma

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978-1-349-41678-3Jonathon W. Moses 2000

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Introductionmic policies still aimed at satisfying traditional constituents (national citizens) or are they now aimed at placating what Sassen (1996) calls the ‘economic citizenry’? Do ‘Left’ and ‘Right’ maintain any significance as descriptions of national economic policies? These are the sort of questions that motivate this book.

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Conclusionindicators: its unemployment level remains enviably low; its growth rate is strong and steady; its budget surplus is the highest in the OECD; inflation is low and unthreatening; and its oil reserves are being rationally tucked away in a long-term investment strategy. The Norwegian economic house is undoubtedly in order.

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An Outside-In Frameworkent levels throughout the postwar period — have undergone radical changes in their policy mixes. The result has been that these countries, like most in Europe, have experienced postwar record high unemployment levels.

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Direct Planning in Norway: 1948–58devaluation in 1949 to the convertibility of several European currencies in 1958, this period represents the end of postwar reconstruction and the beginning of a new, more prosperous, Europe. It was a time when the die was cast for several management models, and when a variety of international cooperative systems were tested and discarded.

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Price Flexibility: 1986–98ormation, and returned to a full employment equilibrium. The new internal balance, however, is different from earlier balances: there are new winners and losers that result from this new policy constellation.

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my offers an outside-in framework for analyzing the way in which national economic sovereignty is affected by globalization. This framework is then applied to a detailed case study of Norway‘s economic policy in the postwar period. The ‘Open State‘ framework offers a new way to interpret how externa

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Postwar International Regimescreated a chronological map of particular ‘regimes’.. It is my argument that these regimes affect the possibilities and constraints which small OPEN states face when choosing their domestic policy instruments. In particular, I am interested in the way in which international economic regimes affect a nation’s current and capital account.

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Indirect Steering: 1958–71adically re-orient her domestic economic policy instruments. Increased trade integration made the use of direct measures more problematic, and Norway was forced to develop and employ a series of indirect instruments for controlling the economy. A new model, based on consistently low interest rates, came to dominate the Norwegian policy arsenal.