This book explores the interdependences of economic globalization, political tensions, and national policymaking whilst analysing opportunities for governance reform at both national and international levels. It considers how governance mechanisms can be fashioned in order to both exploit the opportunities of globalization and cope with the numerous potential conflicts and risks. The authors adopt a multidisciplinary approach based on various theories from economics, political science, sociology and law to provide new insights into globalization processes, their causes and effects and to further develop the understanding of, and interaction between globalization and governance. They underline the need to design innovative governance structures at national, regional, and global levels – an unalterable precondition to overcome political, cultural, and distributional conflicts in a globalizing world. In conclusion, the book prescribes development strategies to successfully manage and overcome the political, cultural and distributional conflicts arising in a globalizing world.Highlighting the successes and failures of globalization, this challenging book will be warmly welcomed by scholars and researchers in various fields of economics including development economics, institutional economics, political economy, and the economics of transition. Those with an interest in regulation and governance, including policymakers and professionals in non-governmental organizations and development agencies will also find the book to be an invaluable tool.