Abstract
While being a necessary consequence of the ongoing and desirable process of international division of labour, the increasing freedom of international money and capital movements has in recent years impaired the efficiency of national economic policy instruments. In order to overcome this drawback the loss in national economic policy autonomy should be counterbalanced by a gain in economic policy cooperation between the national economies.
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References
Henry Kaufman: Debt Rellef for Developing Countries in a Volatile Financlal World, Salomon Brothers Inc., 1987, p. 8.
Stability and Growth Act of July 8, 1967, section 1.
Law on the Single European Act of February 28, 1986, Deutscher Bundesrat, printed publication No. 150/85, article 13.
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The article is a slightly edited version of the Fritz Machluo Memorial Lecture delivered by Professor Köhler in Salzburg on November 12, 1987 (in German).
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Köhier, C. Liberalisation and international cooperation. Intereconomics 23, 55–63 (1988). https://doi.org/10.1007/BF02927023
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DOI: https://doi.org/10.1007/BF02927023