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The Assessment: How Far has Globalization Gone?


  • Andrew Glyn


There is a widespread perception that international economic integration has been proceeding faster and further than ever before. A careful examination of the appropriate indicators reveals that such a dramatic account of recent developments applies only exceptionally (notably to China); the general rule is for steadily increasing trade shares and foreign investment, which still leaves the majority of workers employed in sheltered sectors. Differences in rates of social spending have survived pressures on countries to 'race to the bottom'. Profitability has not converged, even in fiercely competitive manufacturing. Declines in absolute poverty and perhaps inequality still leave rising absolute differences between North and South, while expectations are probably converging faster. Copyright 2004, Oxford University Press.

Suggested Citation

  • Andrew Glyn, 2004. "The Assessment: How Far has Globalization Gone?," Oxford Review of Economic Policy, Oxford University Press, vol. 20(1), pages 1-14, Spring.
  • Handle: RePEc:oup:oxford:v:20:y:2004:i:1:p:1-14

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    References listed on IDEAS

    1. John Van Reenen, 2004. "Active Labor Market Policies and the British New Deal for the Young Unemployed in Context," NBER Chapters,in: Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000, pages 461-496 National Bureau of Economic Research, Inc.
    2. Thomas A. Mroz & Timothy H. Savage, 2006. "The Long-Term Effects of Youth Unemployment," Journal of Human Resources, University of Wisconsin Press, vol. 41(2).
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    Cited by:

    1. Mozammel Huq & Michael Tribe, 2004. "Economic development in a changing globalized economy," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(7), pages 911-923.

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