Globalization and democracy

Vol. 35 No. 3 (2015)

Jul-Sep / 2015
Published July 1, 2015

How to Cite

Nayyar, Deepak. 2015. “Globalization and Democracy”. Brazilian Journal of Political Economy 35 (3):388-402.

Globalization and democracy

Deepak Nayyar
Emeritus Professor of Economics, School of Social Sciences, Jawaharlal Nehru University, New Delhi.
Brazilian Journal of Political Economy, Vol. 35 No. 3 (2015), Jul-Sep / 2015, Pages 388-402


The gathering momentum of globalization in the world economy has coincided with the spread of political democracy across countries. Economies have become global. But politics remains national. This essay explores the relationship between globalization and democracy, which is neither linear nor characterized by structural rigidities. It seeks to analyze how globalization might constrain degrees of freedom for nation states and space for democratic politics, and how political democracy within countries might exercise some checks and balances on markets and globalization. The essential argument is that the relationship between globalization and democracy is dialectical and does not conform to ideological caricatures.

JEL Classification: O10; O19; O23; F4; FO2; H10; P16.

Keywords: globalization market economy political democracy nation state policy space macroeconomia policies open economies trilemma dialectical social media