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De-globalization: Driven by Global Crises?

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  • Razin, Assaf

Abstract

International trade increased rapidly after 1990, fueled by the growth of a complex network of global value chains Trade globalization reversed course since the Global Financial Crisis. The new trend is expected to endure after the Global Pandemic Crisis. There are no indication of lessening trend of financial globalization, which, except for short term reversal during the Global Financial Crisis.

Suggested Citation

  • Razin, Assaf, 2020. "De-globalization: Driven by Global Crises?," CEPR Discussion Papers 15331, Centre for Economic Policy Research.
    • Handle: RePEc:cpr:ceprdp:15331
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    1. Bruno Casella & Richard Bolwijn & Daniel Moran & Keiichiro Kanemoto, . "Improving the analysis of global value chains: the UNCTAD-Eora Database," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    2. Raphael Auer & Claudio Borio & Andrew J. Filardo, 2017. "The Globalisation of Inflation: the Growing Importance of Global Value Chains," Globalization Institute Working Papers 300, Federal Reserve Bank of Dallas.
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    7. Razin, Assaf, 2018. "Israel and the World Economy: The Power of Globalization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037343, December.
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    Cited by:

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    2. Naudé, Wim & Nagler, Paula, 2022. "The Ossified Economy: The Case of Germany, 1870-2020," IZA Discussion Papers 15607, IZA Network @ LISER.
    3. Antoine Mandel & Van-Quy Nguyen & Bach Dong-Xuan, 2024. "Strategic formation of production networks," Papers 2401.08929, arXiv.org, revised May 2025.
    4. Jean-Marc B Atsebi & Jean-Louis Combes & Alexandru Minea, 2024. "The sectoral trade losses from financial crises," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 33(2), pages 466-489.
    5. Naudé, Wim & Nagler, Paula, 2021. "The Rise and Fall of German Innovation," IZA Discussion Papers 14154, IZA Network @ LISER.
    6. Florio, Anna & Siena, Daniele & Zago, Riccardo, 2025. "Global value chains and the Phillips curve: A challenge for monetary policy," European Economic Review, Elsevier, vol. 174(C).
    7. Gustavo Canavire-Bacarreza & Pablo Evia Salas & Jorge Martinez-Vazquez, 2025. "The Effect of Crises on Fiscal and Political Re-Centralizationâ€," Public Finance Review, , vol. 53(2), pages 169-199, March.
    8. Naudé, Wim, 2020. "Industrialization under Medieval Conditions? Global Development after COVID-19," GLO Discussion Paper Series 704, Global Labor Organization (GLO).

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    JEL classification:

    • F0 - International Economics - - General
    • F3 - International Economics - - International Finance

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