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Globalisation of production and markets

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Author Info

  • Nunnenkamp, Peter
  • Gundlach, Erich
  • Agarwal, Jamuna Prasad

Abstract

Since the 1980s, competitive pressure has increased in the world economy. In addition to traditional trade flows, the globalisation of production and markets has greatly enhanced the complexity of the international division of labour. Declining transaction and information costs have stimulated the fragmentation of production processes on a worldwide scale and the relocation of noncompetitive industries. As a result, in both industrialised and developing countries, newly emerging competitors have increasingly challenged established suppliers. The aim of this study is threefold. First, the authors portray the trend towards globalisation and assess by which means enterprises have gone global. Second, they discuss the adjustment needs of traditional producers by evaluating the consequences of globalisation on trade, production, employment and wages. Third, they analyse whether the economic policy reactions to globalisation in industrialised countries are adequate to deal efficiently with competitive challenges. It turns out that the scope of national policies has been significantly reduced by globalised production and markets, while corporate strategies have increasingly been less constrained. Consequently, major policy revisions are indispensable. Most importantly, governments in industrialised countries should focus their attention on human capital formation, rather than on defensive trade policies, whose effectiveness has been seriously eroded. This study is part of a research project on "The Social Market Economy: Challenges and Conceptual Response". --

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy (IfW) in its series Open Access Publications from Kiel Institute for the World Economy with number 807.

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Date of creation: 1994
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Handle: RePEc:zbw:ifwkie:807

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  1. Jamuna Agarwal, 1980. "Determinants of foreign direct investment: A survey," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 116(4), pages 739-773, December.
  2. Greenaway, David & Hine, Robert C., 1990. "Intra Industry Specialisation, Trade Expansion and Adjustment in the European Economic Space," Working Paper Series 281, Research Institute of Industrial Economics.
  3. Steven Globerman & James Dean, 1990. "Recent trends in intra-industry trade and their implications for future trade liberalization," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 126(1), pages 25-49, March.
  4. Weiss, Frank Dietmar & Heitger, Bernhard & Jüttemeier, Karl-Heinz & Kirkpatrick, Grant & Klepper, Gernot, 1988. "Trade policy in West Germany," Open Access Publications from Kiel Institute for the World Economy 374, Kiel Institute for the World Economy (IfW).
  5. Antonio Aquino, 1978. "Intra-industry trade and inter-industry specialization as concurrent sources of International Trade in manufactures," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 114(2), pages 275-296, June.
  6. Robert J. Barro & Jong-Wha Lee, 1993. "International Comparisons of Educational Attainment," NBER Working Papers 4349, National Bureau of Economic Research, Inc.
  7. Krueger, Anne O., 1990. "Perspectives on Trade and Development," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226454900, May.
  8. Sinn, Stefan, 1992. "Saving-Investment Correlations and Capital Mobility: On the Evidence from Annual Data," Economic Journal, Royal Economic Society, vol. 102(414), pages 1162-70, September.
  9. Kenney, Martin & Florida, Richard, 1994. "Japanese maquiladoras: Production organization and global commodity chains," World Development, Elsevier, vol. 22(1), pages 27-44, January.
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Citations

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Cited by:
  1. Gundlach, Erich & Nunnenkamp, Peter, 1997. "Labor markets in the global economy: how to prevent rising wage gaps and unemployment," Kiel Discussion Papers 305, Kiel Institute for the World Economy (IfW).
  2. Siebert, Horst, 1996. "Die Weltwirtschaft im Umbruch: müssen die Realeinkommen der Arbeitnehmer sinken?," Kiel Working Papers 744, Kiel Institute for the World Economy.
  3. Gundlach, Erich & Klodt, Henning & Langhammer, Rolf J. & Soltwedel, Rüdiger, 1995. "Fairneß im Standortwettbewerb? Auf dem Weg zur internationalen Ordnungspolitik," Kiel Discussion Papers 254, Kiel Institute for the World Economy (IfW).
  4. Peter Nunnenkamp & Julius Spatz, 2003. "Intellectual Property Rights and Foreign Direct Investment: The Role of Industry and Host-Country Characteristics," Kiel Working Papers 1167, Kiel Institute for the World Economy.
  5. Paul Brenton & Francesca Di Mauro & Matthias Lücke, 1999. "Economic Integration and FDI: An Empirical Analysis of Foreign Investment in the EU and in Central and Eastern Europe," Empirica, Springer, vol. 26(2), pages 95-121, June.
  6. Jürgen Blazejczak (Hrsg.), 1998. "Zukunftsgestaltung ohne Wirtschaftswachstum?: Ergebnisse eines Workshops des DIW im Auftrag von Greenpeace Deutschland," Discussion Papers of DIW Berlin 168, DIW Berlin, German Institute for Economic Research.
  7. Naujoks, Petra & Schmidt, Klaus-Dieter, 1995. "Foreign direct investment and trade in transition countries: Tracing links," Kiel Working Papers 667, Kiel Institute for the World Economy.
  8. Nunnenkamp, Peter, 1998. "Die deutsche Automobilindustrie im Prozeß der Globalisierung," Open Access Publications from Kiel Institute for the World Economy 1790, Kiel Institute for the World Economy (IfW).
  9. Klodt, Henning & Maurer, Rainer, 1996. "Internationale Direktinvestitionen : Determinanten und Konsequenzen für den Standort Deutschland," Kiel Discussion Papers 284, Kiel Institute for the World Economy (IfW).
  10. Nunnenkamp, Peter, 1994. "Nach der Uruguay-Runde: Triebkräfte und Sprengsätze für die Weltwirtschaft," Open Access Publications from Kiel Institute for the World Economy 1629, Kiel Institute for the World Economy (IfW).
  11. Siebert, Horst, 1997. "Die Illusion von der Kooperation: zum Wettbewerb in der Weltwirtschaft gibt es keine Alternative," Kiel Working Papers 809, Kiel Institute for the World Economy.
  12. Nunnenkamp, Peter, 1998. "Lateinamerika nach der verlorenen Dekade : eine Zwischenbilanz der Reformen," Kiel Discussion Papers 324, Kiel Institute for the World Economy (IfW).

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