Description:
Globalization, and the increased exposure to international competition that it has supposedly induced, has led to expectations of institutional convergence in, among other things, local and regional development policy and the politics surrounding it. There have been changes in the United Kingdom, but not of the decentralizing, neo‐liberalizing form anticipated. A comparison of the British with the very different, highly decentralized, American case seeks to shed light on this. Emphasis is placed on both the strongly embedded nature of institutions and on misunderstandings about the strength of the forces of globalization.