Globalization as a Challenge for Public Choice Theory

Public choice theory in many ways provides a fruitful economicinstrumentarium to be applied to the phenomena of internalizationand globalization. International political economics offers muchpotential for the analysis of real and relevant aspects ininternational relationships. This paper sketches out a few selectedaspects of the globalization question for which public choicetheory could offer a useful explanatory contribution. However, itis made clear as well, that the concept of globalization presentsa substantial challenge for public choice in that only a limitedpart of the institutional change that has accompanied globalizationhas been explained endogenously.