Globalization: tooMuch or is too Little?
The paper examines the effects of the globalization process in order to assess its advantages and its costs. Integration and growth of the world economy are identified as the principal economic manifestation of globalization. Accordingly, two criteria are adopted to measure its effects: the extent of market segmentation for homogeneous goods and factors price and the volume of international transactions. The paper argues that the developments in information and transport technology have historically increased the speed of adjustment of price and indeed have reduced the segmentation of the markets of goods and factors. Moreover, on the basis of statistical data, it demonstrates that the international trade, by increasing the inter-country interdependence, has been an engine of growth. The globalization process has also caused some negative effects (such as the widening of the disparities in the income among and within the countries) because the mechanism for accommodating disruptive change are not always in place or do not operate smoothly. Therefore, an effective global governance is needed to avoid such effects and to allow all countries to join the globalization process.
|Date of creation:||2004|
|Date of revision:|
|Contact details of provider:|| Postal: via Necchi, 5 (5o piano), 20123 Milano|
Web page: http://centridiricerca.unicatt.it/cranec_1800.html?type=Workingpapers
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Céline CARRERE & Maurice SCHIFF, 2004.
"On the Geography of Trade: Distance is Alive and Well,"
- Céline Carrère & Maurice Schiff, 2005. "On the Geography of Trade. Distance is Alive and Well," Revue économique, Presses de Sciences-Po, vol. 56(6), pages 1249-1274.
- Carrere, Celine & Schiff, Maurice, 2004. "On the geography of trade : distance is alive and well," Policy Research Working Paper Series 3206, The World Bank.
- Helliwell, J.F., 1999. "Balanced Growth: the Scope for National Policies in a Global Economy," Working Papers 20, John Deutsch Institute for the Study of Economic Policy.
- Baier, Scott L. & Bergstrand, Jeffrey H., 2001. "The growth of world trade: tariffs, transport costs, and income similarity," Journal of International Economics, Elsevier, vol. 53(1), pages 1-27, February.
- Hummels, David, 1999. "Toward a Geography of Trade Costs," GTAP Working Papers 1162, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
- N. F. R. Crafts, 2000. "Globalization and Growth in the Twentieth Century," IMF Working Papers 00/44, International Monetary Fund.
- Peter H. Lindert & Jeffrey G. Williamson, 2003.
"Does Globalization Make the World More Unequal?,"
in: Globalization in Historical Perspective, pages 227-276
National Bureau of Economic Research, Inc.
- Scott Bradford & Robert Z. Lawrence, 2004. "Has Globalization Gone Far Enough: The Costs of Fragmented Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 349.
- Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-50, October.
- Richard E. Baldwin & Philippe Martin, 1999. "Two Waves of Globalisation: Superficial Similarities, Fundamental Differences," NBER Working Papers 6904, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:crn:wpaper:crn0402. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paolo Valentini)
If references are entirely missing, you can add them using this form.