Globalization and Welfare States
In focusing largely on Western industrial countries recent scholarship on the welfare state has tended to gloss over important implications of globalization for systems of social protection. These include the destabilization of economies through financial liberalization, the influence of international financial institutions on social policy of nations, and the erosion of alternative forms of social protection through global economic integration. This chapter seeks to substantiate this argument by examining the relationship between globalization and social protection in four different groups of countries: less developed, newly industrializing, ex-communist and Western industrial. The nature of the relationship varies in important ways across these groups of countries.
KeywordsWelfare State International Monetary Fund Hedge Fund Social Protection Full Employment
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