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Globalization, Trade, and Interdependence

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  • Hany H. Makhlouf , Ph. D

    (Professor, School of Business and Public Administration, University of the District of Columbia, Washington. D. C.)

Abstract

During the course of the second half of the twentieth century, the world economy has become increasingly interdependent as a result of the economic liberalization measures that have been taken by many countries, and the bilateral and multilateral trade promotion and cooperation agreements that have been reached by a majority of trading partners around the world. However, the benefits from the growth in international trade, and economic cooperation and interdependence, have not been shared equally by all nations. Some have benefited more than others, and some have lagged behind due to their inability to compete in a broader and increasingly dynamic global market. This paper examines the impact of economic interdependence from the perspectives of different national groupings, particularly the developed and the least developed countries. One of the questions to be addressed is: What factors contribute to the differences among those nations in taking advantage of open trade and capital mobility? It is expected that this study would be of value to economic planners and to students of international trade and globalization.

Suggested Citation

  • Hany H. Makhlouf , Ph. D, 2017. "Globalization, Trade, and Interdependence," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 3(10), pages 202-205, 10-2017.
    • Handle: RePEc:arp:ijefrr:2017:p:202-205
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    References listed on IDEAS

    as
    1. Pinelopi Koujianou Goldberg & Nina Pavcnik, 2007. "Distributional Effects of Globalization in Developing Countries," Journal of Economic Literature, American Economic Association, vol. 45(1), pages 39-82, March.
    2. Li, Chengzheng & Xiang, Xunyong & Gu, Haiying, 2015. "Climate shocks and international trade: Evidence from China," Economics Letters, Elsevier, vol. 135(C), pages 55-57.
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