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Globalization of the Economy

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  • Jeffrey A. Frankel

Abstract

Globalization of trade and finance has gone a long way over the last half-century. But it is less impressive than most non-economists think, judged either by the standard of 100 years ago or by the hypothetical standard of perfect international integration. The paper documents the extent of globalization, and some reasons for the barriers that remains. It then briefly considers the implications for economic growth and the implications for goals not measured by GDP equality and the environment. The conclusion is that globalization is not the primary obstacle to efforts to address such concerns.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7858.

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Date of creation: Aug 2000
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Publication status: published as in Nye, Joseph and John Donahue (eds.) Governance in a Globalizing World, Visions of Governance Project. Washington, DC: Brookings Institution Press, 2000 p. 45-71
Handle: RePEc:nbr:nberwo:7858

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Citations

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Cited by:
  1. Pérez García Francisco & Tortosa-Ausina Emili & Arribas Fernández Iván, 2009. "The Distance Puzzle Revisited: A New Interpretation Based on Geographic Neutrality," Working Papers, Fundacion BBVA / BBVA Foundation 201019, Fundacion BBVA / BBVA Foundation.
  2. Pérez, Francisco & Arribas, Iván & Tortosa-Ausina, Emili, 2009. "Openness and geographic neutrality: How do they contribute to international banking integration?," MPRA Paper 17211, University Library of Munich, Germany.
  3. Montalbano, Pierluigi & Federici, Alessandro & Triulzi, Umberto & Pietrobelli, Carlo, 2005. "Trade Openness and Vulnerability in Central and Eastern Europe," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2005/43, World Institute for Development Economic Research (UNU-WIDER).
  4. Izquierdo, Alejandro & Morisset, Jacques & Olarreaga, Marcelo, 2003. "Information Diffusion in International Markets," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3872, C.E.P.R. Discussion Papers.
  5. Matthias Blum & Jörg Stosberg, 2003. "The Globalisation and its Implications for the Economic Development of Latin America," International Trade, EconWPA 0309023, EconWPA.
  6. Arribas, Iván & Pérez, Francisco & Tortosa-Ausina, Emili, 2008. "On the Dynamics of Globalization," MPRA Paper 16007, University Library of Munich, Germany, revised 2008.
  7. Yusuf, Shahid, 2001. "Globalization and the challenge for developing countries," Policy Research Working Paper Series, The World Bank 2618, The World Bank.
  8. Rolf J. Langhammer, 2009. "Does International Trade Catch up with National Trade of Countries? Yes," Kiel Working Papers 1519, Kiel Institute for the World Economy.
  9. Jörn Kleinert, 2002. "Trade and the Internationalization of Production," Kiel Working Papers 1104, Kiel Institute for the World Economy.
  10. Arribas, Iván & Pérez, Francisco & Tortosa-Ausina, Emili, 2011. "A network perspective on international banking integration," Journal of Policy Modeling, Elsevier, Elsevier, vol. 33(6), pages 831-851.
  11. Arribas Fernández Iván & Pérez García Francisco & Tortosa-Ausina Emili, 2007. "Measuring International Economic Integration: Theory and Evidence of Globalization," Working Papers, Fundacion BBVA / BBVA Foundation 201094, Fundacion BBVA / BBVA Foundation.
  12. Alejandro Izquierdo & Jacques Morriset & Marcelo Olarreaga, 2003. "Difusión de la información en mercados internacionales," Research Department Publications, Inter-American Development Bank, Research Department 4336, Inter-American Development Bank, Research Department.
  13. Arribas, Iván & Pérez, Francisco & Tortosa-Ausina, Emili, 2009. "Measuring Globalization of International Trade: Theory and Evidence," World Development, Elsevier, Elsevier, vol. 37(1), pages 127-145, January.
  14. Neumann, Rebecca & Holman, Jill & Alm, James, 2009. "Globalization and tax policy," The North American Journal of Economics and Finance, Elsevier, Elsevier, vol. 20(2), pages 193-211, August.
  15. Jac C. Heckelman & Andrew T. Young, 2014. "How Global is Globalization?," Working Papers, Department of Economics, West Virginia University 14-08, Department of Economics, West Virginia University.
  16. Li, KW & Pang, Iris A.J. & Ng, Michael C.M., 2007. "Can Performance of Indigenous Factors Influence Growth and Globalisation?"," MPRA Paper 2083, University Library of Munich, Germany.

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