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The myth of economic globalization: notes from a European perspective

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  • Kleinknecht, Alfred

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

  • Wengel, Jan ter

Abstract

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 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.

Suggested Citation

  • Kleinknecht, Alfred & Wengel, Jan ter, 1997. "The myth of economic globalization: notes from a European perspective," Serie Research Memoranda 0007, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    • Handle: RePEc:vua:wpaper:1997-7
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    References listed on IDEAS

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    1. Jaffe, Adam B, 1986. "Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits, and Market Value," American Economic Review, American Economic Association, vol. 76(5), pages 984-1001, December.
    2. Pari Patel & Keith Pavitt, 1991. "Large Firms in the Production of the World’s Technology: An Important Case of “Non-Globalisation”," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 22(1), pages 1-21, March.
    3. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-1171, September.
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    More about this item

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • 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, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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