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The Role of the State in Economic Change$
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Ha-Joon Chang and Robert Rowthorn

Print publication date: 1995

Print ISBN-13: 9780198289845

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289845.001.0001

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International Economic Integration and the Changing Role of National Governments

International Economic Integration and the Changing Role of National Governments

Chapter:
(p.51) 3 International Economic Integration and the Changing Role of National Governments
Source:
The Role of the State in Economic Change
Author(s):

Mića Panić

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198289845.003.0003

This chapter deals with the role of the national government as well as the creation of a supranational government. The authors say that if the operation of the market shall be left to the effective control of the state, these states are preparing to risk a return to the economic warfare wherein each state uses their economic might in order to hostage other states. On the other hand, a supranational government is also needed in order to govern the conduct of the market or the flow of the world trade. Absence of a supranational government and control of the market left to the national government will leave the states just like the industrialised nations in 1973 wherein their economic growth stagnated and no improvement was made in their economies.

Keywords:   supranational government, national government, world trade, economic stagnation, industrialised nations, economic integration

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