Policies Facilitating Firm Adjustment to Globalization

The authors focus on policies facilitating firm adjustment to globalization. They briefly review the effects of trade and investment liberalization on firms, focusing on within-industry effects. They postulate that governments' role in support...

Full description

Bibliographic Details
Main Authors:	Hoekman, Bernard, Javorcik, Beata Smarzynska
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	GLOBALIZATION ADJUSTMENT GOVERNMENT POLICIES
Online Access:	http://documents.worldbank.org/curated/en/2004/11/5436091/policies-facilitating-firm-adjustment-globalization http://hdl.handle.net/10986/14219

id	okr-10986-14219
recordtype	oai_dc
spelling	okr-10986-142192021-04-23T14:03:21Z Policies Facilitating Firm Adjustment to Globalization Hoekman, Bernard Javorcik, Beata Smarzynska GLOBALIZATION ADJUSTMENT GOVERNMENT POLICIES The authors focus on policies facilitating firm adjustment to globalization. They briefly review the effects of trade and investment liberalization on firms, focusing on within-industry effects. They postulate that governments' role in supporting the process is to (1) ensure that firms face "right" incentives to adjust, and (2) intervene in areas where market failures are present. Their main message is that while many policies could be adopted to address market failures, they need to be carefully designed and implemented in a stable macroeconomic environment. An institutional infrastructure that supports the functioning of modern markets is most important. Proactive support policies of whatever stripe should be subject to cost-benefit analysis, based on the existence of an identified market failure, and monitored for performance and cost effectiveness. Transparency and accountability are critical in ensuring that interventions accomplish their intended objectives rather than being vehicles for rent seeking. 2013-06-26T19:14:33Z 2013-06-26T19:14:33Z 2004-11 http://documents.worldbank.org/curated/en/2004/11/5436091/policies-facilitating-firm-adjustment-globalization http://hdl.handle.net/10986/14219 English en_US Policy Research Working Paper;No.3441 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	GLOBALIZATION ADJUSTMENT GOVERNMENT POLICIES
spellingShingle	GLOBALIZATION ADJUSTMENT GOVERNMENT POLICIES Hoekman, Bernard Javorcik, Beata Smarzynska Policies Facilitating Firm Adjustment to Globalization
relation	Policy Research Working Paper;No.3441
description	The authors focus on policies facilitating firm adjustment to globalization. They briefly review the effects of trade and investment liberalization on firms, focusing on within-industry effects. They postulate that governments' role in supporting the process is to (1) ensure that firms face "right" incentives to adjust, and (2) intervene in areas where market failures are present. Their main message is that while many policies could be adopted to address market failures, they need to be carefully designed and implemented in a stable macroeconomic environment. An institutional infrastructure that supports the functioning of modern markets is most important. Proactive support policies of whatever stripe should be subject to cost-benefit analysis, based on the existence of an identified market failure, and monitored for performance and cost effectiveness. Transparency and accountability are critical in ensuring that interventions accomplish their intended objectives rather than being vehicles for rent seeking.
format	Publications & Research :: Policy Research Working Paper
author	Hoekman, Bernard Javorcik, Beata Smarzynska
author_facet	Hoekman, Bernard Javorcik, Beata Smarzynska
author_sort	Hoekman, Bernard
title	Policies Facilitating Firm Adjustment to Globalization
title_short	Policies Facilitating Firm Adjustment to Globalization
title_full	Policies Facilitating Firm Adjustment to Globalization
title_fullStr	Policies Facilitating Firm Adjustment to Globalization
title_full_unstemmed	Policies Facilitating Firm Adjustment to Globalization
title_sort	policies facilitating firm adjustment to globalization
publisher	World Bank, Washington, D.C.
publishDate	2013
url	http://documents.worldbank.org/curated/en/2004/11/5436091/policies-facilitating-firm-adjustment-globalization http://hdl.handle.net/10986/14219
_version_	1764430761011707904

Policies Facilitating Firm Adjustment to Globalization

Similar Items