The Globalization of Liberalization: Policy Diffusion in the International Political Economy

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The Globalization of Liberalization: Policy Diffusion in the International Political Economy

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dc.creator Elkins, Zachary
dc.creator Simmons, Beth A.
dc.date.accessioned 2012-04-13T17:53:00Z
dc.date.available 2012-04-13T17:53:00Z
dc.date.created 2004-02
dc.date.issued 2012-04-13
dc.identifier.citation Simmons, Beth A., and Zachary Elkins. 2004. "The Globalization of Liberalization: Policy Diffusion in the International Political Economy," American Political Science Review, Volume 98, Number 1 (February), pp. 171-189.
dc.identifier.issn 0003-0554
dc.identifier.uri http://hdl.handle.net/2152/15359
dc.description.abstract One of the most important developments over the past three decades has been the spread of liberal economic ideas and policies throughout the world. These policies have affected the lives of millions of people, yet our most sophisticated political economy models do not adequately capture influences on these policy choices. Evidence suggests that the adoption of liberal economic practices is highly clustered both temporally and spatially. We hypothesize that this clustering might be due to processes of policy diffusion. We think of diffusion as resulting from one of two broad sets of forces: one in which mounting adoptions of a policy alter the benefits of adopting for others and another in which adoptions provide policy relevant information about the benefits of adopting. We develop arguments within these broad classes of mechanisms, construct appropriate measures of the relevant concepts, and test their effects on liberalization and restriction of the current account, the capital account, and the exchange rate regime. Our findings suggest that domestic models of foreign economic policy making are insufficient. The evidence shows that policy transitions are influenced by international economic competition as well as the policies of a country's sociocultural peers. We interpret the latter influence as a form of channeled learning reflecting governments' search for appropriate models for economic policy.
dc.language.iso eng
dc.publisher American Political Science Review
dc.publisher American Political Science Association
dc.subject Globalization
dc.subject Diffusion
dc.subject Liberalization
dc.subject Economic Liberalization
dc.subject Policy Diffusion
dc.subject Political Economy
dc.title The Globalization of Liberalization: Policy Diffusion in the International Political Economy
dc.type Article
dc.description.department Government

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