At the same time that the global system has become more complex, it has also become more tightly coupled. While complexity refers only to the inter-connections among actors, coupling has to do with the absence of buffers, firewalls or circuit breakers in the system. The growth of trade imbalances, trade in intermediates, foreign portfolio investment, currency trading, and cross-border banking has created more coupling in the global system. Simultaneously, countries themselves have become internally more tightly coupled because of population aging, urbanization, public indebtedness, and income and wealth inequality. These forces reduce the degrees of freedom that governments enjoy to respond to disruptions, shocks, catastrophes, and crises.
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.