The myth of economic globalization: notes from a European perspective
AbstractPatterns of commodity trade and foreign direct investment are not consistent with the proposition that European economies are experiencing a process of increasing 'globalization'. Internationalization takes place as economic integration within the European Union and the European Union apparently does not become more integrated with the World's other two trade blocs. Moreover, other than globalization theory might cause us to predict, the share in foreign direct investment taken by low-wage countries shows little growth. We try to explain such findings, using arguments about the nature of the process of technological change.
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Bibliographic InfoPaper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0007.
Date of creation: 1997
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Find related papers by JEL classification:
- F01 - International Economics - - General - - - Global Outlook
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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