Kiel Working Papers, Kiel Institute for World Economics
No 1392:
The Concept of a World Economic Order
Horst Siebert
Abstract: This paper studies the concept of an international
economic order, i.e. an institutional arrangement of international rules.
Such rules emerge from negative experiences – historical disasters – that
inflict severe hardship on people. A taxonomy for rules reducing
transaction costs is developed, for instance through decentralization of
decisions, property rights, territoriality and the internalization of
border-crossing negative externalities and mechanisms for global public
goods. Some aspects of the rule system are studied including the process of
ceding sovereignty and philosophical thoughts on international rules.
Keywords: International rules, transaction costs, welfare gains of rules, property rights, hierarchy of rules, concept of order, Freiburg school, philosophical ideas; (follow links to similar papers)
JEL-Codes: A12,; F02,; F15,; K00,; N00,; P00; (follow links to similar papers)
20 pages, January 2008
Before downloading any of the electronic versions below
you should read our statement on
copyright.
Download GhostScript
for viewing Postscript files and the
Acrobat Reader for viewing and printing pdf files.
Downloadable files:
kap1392.pdf 
Download Statistics
Report other problems with accessing this service to Sune Karlsson ()
or Helena Lundin ().
Programing by
Design Joakim Ekebom
