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Globalization and Institutions

Redefining the Rules of the Economic Game Edited by Marie-Laure Djelic, Professor, CSO, Co-Dean, School of Management and Innovation, Sciences Po, Paris, France and Sigrid Quack, Professor of Comparative and Transnational Sociology, University Duisburg-Essen, Germany
This volume investigates the relationship between economic globalization and institutions, or global governance, challenging the common assumption that globalization and institutionalization are essentially processes which exclude each other. Instead, the contributors to this book show that globalization is better perceived as a dual process of institutional change at the national level, and institution building at the transnational level. Rich, supporting empirical evidence is provided along with a theoretical conceptualization of the main actors, mechanisms and conditions involved in trickle-up and trickle-down trajectories through which national institutional systems are being transformed and transnational rules emerge.
Extent: 368 pp
Hardback Price: $167.00 Web: $150.30
Publication Date: 2003
ISBN: 978 1 84064 975 8
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Paperback Price: $74.00 Web: $59.20
Publication Date: 2004
ISBN: 978 1 84376 853 1
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This volume investigates the relationship between economic globalization and institutions, or global governance, challenging the common assumption that globalization and institutionalization are essentially processes which exclude each other. Instead, the contributors to this book show that globalization is better perceived as a dual process of institutional change at the national level, and institution building at the transnational level. Rich, supporting empirical evidence is provided along with a theoretical conceptualization of the main actors, mechanisms and conditions involved in trickle-up and trickle-down trajectories through which national institutional systems are being transformed and transnational rules emerge.

The book collectively argues that transnational institution building is one of the most striking features of the current period of internationalization. As a consequence, debates concerning globalization and global governance have to be reformulated. The authors posit that globalization is not threatening governance, but in fact globalization reflects a particular type of governance. The dilemma, therefore, is not between globalization and institutions, but between different meanings of governance and the balance that should be reached between them.

Globalization and Institutions will be of special interest to academics and scholars of institutional economics, globalization and management. However, with its focus on two key debates for which there is clearly rising interest, many social scientists will find the book of interest.
‘This valuable edited volume will move forward the debate on national business systems/varieties of capitalism in the context of globalization and provide new directions for it. Both in its persuasive theoretical sections and in its empirical chapters, the work shifts our focus to the transnational space and its interaction with national and sub-national levels. It moves away from a determinist institutionalist analysis and puts more emphasis on actors at sub-national level and their contribution to a complex and multi-directional process of non-linear change. The volume is particularly preoccupied with rule-making at the transnational level and the impact of new rules on national institutions. In contrast to many conference volumes, this one excels through a genuine integration of theory with empirical chapters and through a selection of authors who all tackle new and highly topical aspects of economic globalization.’
– Christel Lane, University of Cambridge and St John’s College, Cambridge, UK

‘The rapid rise of supra-national institutions, in Europe and worldwide, has had a great impact on the ways business organizes and operates. New rules and regulations, professions, organizations, and models arise and become established. They provide new uncertainties and opportunities, but in any case greatly change the conditions businesses confront. Marie-Laure Djelic and Sigrid Quack have put together a set of most impressive studies analyzing the whole process as it occurs in different economic sectors, and have presented these in a conceptual frame that helps the reader make sense of them. The studies here focus on the two main issues at hand in globalization or Europeanization. They analyze the rise, nature, and spread of the new institutional systems. And they analyze the impact of these systems on formerly-national businesses and economic arrangements. Readers concerned with the impact of globalization and the new Europe on business and economic organization will find the studies here invaluable.’
– John Meyer, Stanford University, US
Contributors: A. Ainamo, J. Ali-Yrkkö, J. Bensedrine, M.T. Dacin, M.-L. Djelic, M. Huolman, T. Kleiner, D. Lehmkuhl, K. Lilja, C. McKenna, J. McNichol, A. Midttun, E. Moen, T. Omland, D. Plehwe, M. Pulkkinen, A. Rupérez Micola, S. Quack, D. Szyliowicz, R. Tainio, M.J. Ventresca, S. Vescovi, R. Whitley, P. Ylä-Anttila
Contents: Introduction: Governing Globalization – Bringing Institutions Back In 1. Theoretical Building Blocks for a Research Agenda Linking Globalization and Institutions Part I: Globalization and National Institutional Change 2. Global Investors Meet Local Managers: Shareholder Value in the Finnish Context 3. Building up an Asset Management Industry: Forays of an Anglo-Saxon Logic into the French Business System 4. Message and Medium: The Role of Consulting Firms in Globalization and its Load Interpretation 5. Changing Transnational Institutions and the Management of International Business Transactions Part II: Globalization and Transnational Institution Building 6. Coordinating Transnational Competition: Changing Patterns in the European Pulp and Paper Industry 7. Path-dependent National Systems or European Convergence? The Case of European Electricity Markets 8. Europe’s Special Case: The Five Corners of Business–state Interactions 9. Multilateral Rulemaking: Transatlantic Struggles Around Genetically Modified Food 10. Innovations in Governance: Global Structuring and the Field of Public Exchange-Traded Markets 11. Structuring Dispute Resolution in Transnational Trade: Competition and Coevolution of Public and Private Institutions Conclusion: Globalization as a Double Process of Institutional Change and Institution Building Index