Argues that states substitute unwanted policy changes dictated by globalization with politically feasible ones, leading to policy convergence.
Convergence as Adaptivity explores under what conditions policy convergence may be seen an indication of policy autonomy. Zhiyuan Wang advances a theory that argues states substitute unwanted policy changes dictated by globalization with politically feasible ones. Investigating bilateral investment treaties, preferential trade agreements, corporate taxation, and central bank independence as policy substitutes, he provides both quantitative and qualitative evidence to substantiate the core theoretical argument and explores under what conditions policy convergence can be an indication of policy autonomy and through what manner. The result is a systemic and rigorous exploration of the idea of policy substitution and its consequences under globalization. Wang's findings will be of interest to scholars, practitioners, and concerned citizens hoping to deepen their understanding of globalization as well as useful for undergraduate and graduate courses in international relations, international and comparative political economy, and globalization.
Zhiyuan Wang is Assistant Professor of Political Science at the University of Florida.
"This is a novel and well-developed analysis of how states respond to globalization. Wang makes a substantively and theoretically rich argument about policy substitution in response to economic globalization and empirically traces specific ways in which states essentially confront globalization on their own terms." — Robert G. Blanton, University of Alabama at Birmingham