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Changes in International Trade and Investments after the Global Financial Crisis

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  • Iskra Christova-Balkanska

Abstract

Over the last 20 years, the globalisation of the economic and financial environment has had an impact on world trade and investment and has modified the ways in which international trade and investment transactions are implemented. The expansion of the overseas operations of the international companies is an influential factor. The reduction of tariffs, the increase in the quality/cost ratio of international transport, and especially the deepening of information and telecommunications links, contribute to changes in the way in which international trade and investment transactions are carried out. The evolution of international trade and foreign direct investments (FDI) during the post-crisis period differs significantly from that during the pre-crisis period. The economic and financial environment is uncertain. Besides the global financial crisis, Europe is also experiencing the blows of the sovereign debt crisis – a fact that affects its rapid economic and financial recovery. Despite the liberal trade and investment relations, countries around the world apply non-tariff and administrative barriers in order to protect export-oriented production from external shocks. In recent years, protectionist trends are increasing due to the unilateral imposition of duties on certain goods by the American administration. Does this shift in trade policy mark a turning point in international trade and FDI?

Suggested Citation

  • Iskra Christova-Balkanska, 2018. "Changes in International Trade and Investments after the Global Financial Crisis," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 85-94.
    • Handle: RePEc:bas:econst:y:2018:i:6:p:85-94
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    References listed on IDEAS

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    1. Paul Krugman & Anthony J. Venables, 1995. "Globalization and the Inequality of Nations," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(4), pages 857-880.
    2. Daniel Gros & Cinzia Alcidi, 2010. "The impact of the financial crisis on the real economy," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 45(1), pages 4-20, January.
    3. repec:hhs:iuiwop:430 is not listed on IDEAS
    4. Gianmarco I. P. Ottaviano, 2011. "'New' new economic geography: firm heterogeneity and agglomeration economies," Journal of Economic Geography, Oxford University Press, vol. 11(2), pages 231-240, March.
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    Cited by:

    1. Iskra Christova-Balkanska, 2021. "COVID-19 Implications on Global Value Chains in Bulgaria and Romania," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 9(1), pages 39-47, June.

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    More about this item

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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