Globalization as a Challenge for Public Choice Theory.

Abstract

Public choice theory in many ways provides a fruitful economic instrumentarium to be applied to the phenomena of internalization and globalization. International political economics offers much potential for the analysis of real and relevant aspects in international relationships. This paper sketches out a few selected aspects of the globalization question for which public choice theory could offer a useful explanatory contribution. However, it is made clear as well, that the concept of globalization presents a substantial challenge for public choice in that only a limited part of the institutional change that has accompanied globalization has been explained endogenously. Copyright 2001 by Kluwer Academic Publishers