Opening New Markets: Lowering Entry Barriers in Finance and Telecommunications
Why do governments allow some foreign firms to enter their markets but not others? How do firms overcome such entry barriers? I argue that when government ownership in an industry is high, governments erect entry barriers against foreign firms. In order to overcome these, foreign firms utilize international agreements to lower regulatory barriers around the world. Multinational firms in both financial and telecommunications services form coalitions and create an international regime of norms and rules, which then induces changes in domestic regulations. This book thus challenges the conventional wisdom that firms are passive political actors that are responsive to policies set by the government. Instead, it shows that firms are active players in international politics: they create a policy agenda, form international industry coalitions, and work directly with home and host governments as well as international organizations in order to enact changes across borders. This book describes how firms use political tools to penetrate new markets. It disentangles the complex feedback between international agreements and domestic regulations.
Work in Progress
"Financial Connectedness and Financial Trade Openness"
"The Global Financial Crisis and Regional Trade Agreements"
“Firm connection: Information Exchange in Firm Networks and International Economic Policies”
“Institutional Resilience and Obsolescence of International Economic Institutions”
"China's Rise and Global Governance in the ICT Industry"
Competition Policy: How Firms Shape International and Domestic Policymaking