Over the last three decades there has been a phenomenal integration of the world economy. This volume brings together articles written by some of the most eminent researchers in the field to cover the three main dimensions of the globalization process: the reduction of barriers to international trade through multilateral agreements. the proliferation of regional trading arrangements such as EU and NAFTA. the unilateral actions taken by many countries to open up their economies. Within these broad areas, essays cover the substantive issues relating to commodity trade, capital movements and monetary and fiscal policies, addressing the subject from both theoretical and empirical perspectives. This comprehensive work will prove invaluable to economists, researchers, policy makers, and anyone with an interest in the economics of globalization.