The advance of economic globalization has led many academics, policy-makers, and activists to warn that it leads to a 'race to the bottom'. In a world increasingly free of restrictions on trade and capital flows, developing nations that cut public services are risking detrimental effects to the populace. Conventional wisdom suggests that it is the poorer members of these societies who stand to lose the most from these pressures on welfare protections, but this new study argues for a more complex conceptualization of the subject. Nita Rudra demonstrates how and why domestic institutions in developing nations have historically ignored the social needs of the poor; globalization neither takes away nor advances what never existed in the first place. It has been the lower- and upper-middle classes who have benefited the most from welfare systems and, consequently, it is they who are most vulnerable to globalization's race to the bottom.

Globalization is triggering a 'revenue shock' in developing economies. International trade taxes - once the primary source of government revenue - have been cut drastically in response to trade liberalization. Bastiaens and Rudra make the novel argument that regime type is a major determinant of revenue-raising capacity once free trade policies have been adopted. Specifically, policymakers in democracies confront greater challenges than their authoritarian counterparts when implementing tax reforms to offset liberalization's revenue shocks. The repercussions are significant: while the poor bear the brunt of this revenue shortfall in democracies, authoritarian regimes are better-off overall. Paradoxically, then, citizens of democracies suffer precisely because their freer political culture constrains governmental ability to tax and redistribute under globalization. This important contribution on the battle between open societies and the ability of governments to help their people prosper under globalization is essential reading for students and scholars of political economy, development studies and comparative politics.

Globalization is triggering a 'revenue shock' in developing economies. International trade taxes - once the primary source of government revenue - have been cut drastically in response to trade liberalization. Bastiaens and Rudra make the novel argument that regime type is a major determinant of revenue-raising capacity once free trade policies have been adopted. Specifically, policymakers in democracies confront greater challenges than their authoritarian counterparts when implementing tax reforms to offset liberalization's revenue shocks. The repercussions are significant: while the poor bear the brunt of this revenue shortfall in democracies, authoritarian regimes are better-off overall. Paradoxically, then, citizens of democracies suffer precisely because their freer political culture constrains governmental ability to tax and redistribute under globalization. This important contribution on the battle between open societies and the ability of governments to help their people prosper under globalization is essential reading for students and scholars of political economy, development studies and comparative politics.

The advance of economic globalization has led many academics, policy-makers, and activists to warn that it leads to a 'race to the bottom'. In a world increasingly free of restrictions on trade and capital flows, developing nations that cut public services are risking detrimental effects to the populace. Conventional wisdom suggests that it is the poorer members of these societies who stand to lose the most from these pressures on welfare protections, but this new study argues for a more complex conceptualization of the subject. Nita Rudra demonstrates how and why domestic institutions in developing nations have historically ignored the social needs of the poor; globalization neither takes away nor advances what never existed in the first place. It has been the lower- and upper-middle classes who have benefited the most from welfare systems and, consequently, it is they who are most vulnerable to globalization's race to the bottom.

Over the past 20 years, social scientists, government officials, and investors have expressed mounting interest in the BRICS countries, which include Brazil, Russia, India, China and South Africa. These countries are widely viewed as both key actors in the global economy and important regional powers. The Political Economy of the BRICS Countries is a three-volume set that aims to address various crucial issues regarding these countries.Volume 1 analyzes whether economic growth in the BRICS countries has been broad-based and promoted equitable economic and social outcomes. The authors examine specific dimensions of growth in these five economies that constrain their ability to act effectively and cohesively in international affairs.Volume 2 considers how the BRICS have affected global economic governance and the international political economy.Volume 3 provides various approaches to economic informality in the BRICS. Moreover, the chapters deal with several connections between informality and important political, economic, and institutional phenomena such as economic globalization and international aid, economic development, political regimes, social capital, political networks and political participation, labor market rules, and social policy preferences.The BRICS countries have attracted rising attention over the past two decades. The volumes provide an in-depth analysis of various key issues regarding these countries and chart a course for future research.

The advance of economic globalization has led many academics, policy-makers, and activists to warn that it leads to a 'race to the bottom'. In a world increasingly free of restrictions on trade and capital flows, developing nations that cut public services are risking detrimental effects to the populace. Conventional wisdom suggests that it is the poorer members of these societies who stand to lose the most from these pressures on welfare protections, but this new study argues for a more complex conceptualization of the subject. Nita Rudra demonstrates how and why domestic institutions in developing nations have historically ignored the social needs of the poor; globalization neither takes away nor advances what never existed in the first place. It has been the lower- and upper-middle classes who have benefited the most from welfare systems and, consequently, it is they who are most vulnerable to globalization's race to the bottom.