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Globalisation : trends, issues and macro implications for the EU

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  • C�cile Denis
  • Kieran Mc Morrow
  • Werner R�ger

Abstract

Globalisation, defined as an increasingly integrated world economy, has the potential to generate the largest structural upheaval in economies since the industrial revolution. As in the past, this process is being underpinned by both technological change and by a shift in policies in many countries towards a more open, market based, system of economic governance. These policies reflect the realities of a new world order where knowledge creation and absorption and the flexibility of the regulatory and institutional frameworks will be the key determinants of the economic fortunes of economies. This paper examines the historical empirical evidence regarding globalisation and quantifies the macro benefits and costs for the EU over the coming decades.

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Bibliographic Info

Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 254.

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Length: 95 pages
Date of creation: Jul 2006
Date of revision:
Handle: RePEc:euf:ecopap:0254

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Keywords: globalisation; trade integration; global productivity; terms of trade; Denis ; Mc Morrow; R�ger;

References

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  18. repec:hal:cesptp:halshs-00195890 is not listed on IDEAS
  19. Chen, Natalie & Imbs, Jean & Scott, Andrew, 2004. "Competition, Globalization and the Decline of Inflation," CEPR Discussion Papers 4695, C.E.P.R. Discussion Papers.
  20. Giuseppe Nicoletti & Steve Golub & Dana Hajkova & Daniel Mirza & Kwang-Yeol Yoo, 2003. "Policies and International Integration: Influences on Trade and Foreign Direct Investment," OECD Economics Department Working Papers 359, OECD Publishing.
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Cited by:
  1. Socol Cristian & Socol Aura Gabriela & Marinas Marius-Corneliu, 2008. "The Analysis Of Equity-Efficiency Trade-Off In The European Union Economy," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 442-448, May.
  2. Alho, Kari & Kaitila, Ville & Widgrén, Mika, 2008. "Offshoring, Relocation and the Speed of Convergence in the Enlarged European Union," CEPR Discussion Papers 7000, C.E.P.R. Discussion Papers.

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