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Globalization of the Economy

  • Jeffrey A. Frankel

Globalization of trade and finance has gone a long way over the last half-century. But it is less impressive than most non-economists think, judged either by the standard of 100 years ago or by the hypothetical standard of perfect international integration. The paper documents the extent of globalization, and some reasons for the barriers that remains. It then briefly considers the implications for economic growth and the implications for goals not measured by GDP equality and the environment. The conclusion is that globalization is not the primary obstacle to efforts to address such concerns.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7858.

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Date of creation: Aug 2000
Date of revision:
Publication status: published as in Nye, Joseph and John Donahue (eds.) Governance in a Globalizing World, Visions of Governance Project. Washington, DC: Brookings Institution Press, 2000 p. 45-71
Handle: RePEc:nbr:nberwo:7858
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