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The Myth of Economic Globalisation

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Author Info
Kleinknecht, Alfred
ter Wengel, Jan
Abstract

Geographic patterns of commodity trade and foreign direct investment are not consistent with the proposition that European economies are experiencing a process of increasing 'globalization.' Internationalization is taking place as economic integration within the European Union. During the last thirty-five years, the European Union has not become relatively more integrated with the world's other trade blocs. Moreover, in contrast to what globalization theory might cause the authors to predict, the share in foreign direct investment taken by low-wage countries shows little growth. The authors try to explain such findings, using arguments about the nature of the process of technological change. Copyright 1998 by Oxford University Press.

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Publisher Info
Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 22 (1998)
Issue (Month): 5 (September)
Pages: 637-47
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Handle: RePEc:oup:cambje:v:22:y:1998:i:5:p:637-47

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  1. Frank Bruinsma & Cees Gorter & Peter Nijkamp, 1998. "Nomadic Firms in a Globalizing Economy: A Comparative Analysis and Policy Perspectives," Tinbergen Institute Discussion Papers 98-120/3, Tinbergen Institute. [Downloadable!]
  2. Carolina Castaldi & Mario Cimoli & Nelson Correa & Giovanni Dosi, 2004. "Technological Learning, Policy Regimes and Growth in a `Globalized' Economy: General Patterns and the Latin American Experience," LEM Papers Series 2004/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
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