Challenges to Globalization: Analyzing the Economics.

Challenges to Globalization: Analyzing the Economies, edited by Robert E. Baldwin and L. Alan Winters, will be available soon from the University of Chicago Press. This volume includes the papers and discussions from a recent International Seminar on international Trade, co-sponsored by the NBER, the Centre for Economic Policy Research in London, and the SNS in Stockholm.

Many groups passionately disagree about the nature of the globalization process. This volume evaluates the economic arguments regarding globalization's relationship to democracy, its impact on the environment, and the associated expansion of trade and its effects on prices. The papers focus, among other topics, on the infamous brain drain, sweat shop labor, wage levels, and changes in production processes. Contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions. Their findings often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with a survey of the last fifty years of research on the relationship between international economic policies and national economic growth rates.

Baldwin is an NBER Research Associate and professor emeritus of economics at the University of Wisconsin-Madison. Winters is professor of economics at the University of Sussex. The price of this volume is $95.00.