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Literature review concerning the relationship between globalization and regionalization in the world economy


  • Balasan, Andrei-Cristian


In this paper we review the literature on regionalization and globalization and implicitly the impact these two processes have over the world economy. Characterized by a several number of studies, this research is focused on different time periods, methodologies and model parameters. We identify the key empirical findings from the literature and analyze the impact of the relationship between globalization and regionalization on prices, wages, capital flows and the labor market. The results offer clear evidence that these two processes are not mutually exclusive and cannot be analyzed separately from each other. Future research should examine closely the impact of globalization and regionalization over population's purchasing power.

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  • Balasan, Andrei-Cristian, 2012. "Literature review concerning the relationship between globalization and regionalization in the world economy," MPRA Paper 39746, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:39746

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    References listed on IDEAS

    1. Kaminski, Bartlomiej & Ng, Francis, 2005. "Production disintegration and integration of Central Europe into global markets," International Review of Economics & Finance, Elsevier, vol. 14(3), pages 377-390.
    2. Soloaga, Isidro & Alan Wintersb, L., 2001. "Regionalism in the nineties: what effect on trade?," The North American Journal of Economics and Finance, Elsevier, vol. 12(1), pages 1-29, March.
    3. Christodoulakis, Nicos & Dimelis, Sophia P & Kollintzas, Tryphon, 1995. "Comparisons of Business Cycles in the EC: Idiosyncracies and Regularities," Economica, London School of Economics and Political Science, vol. 62(245), pages 1-27, February.
    4. David Hummels, 2007. "Transportation Costs and International Trade in the Second Era of Globalization," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 131-154, Summer.
    5. Hiebert, Paul & Vansteenkiste, Isabel, 2007. "International trade, technological shocks and spillovers in the labour market: A GVAR analysis of the US manufacturing sector," Working Paper Series 731, European Central Bank.
    6. Edward Christie, 2001. "Potential Trade in Southeast Europe: A Gravity Model Approach," wiiw Balkan Observatory Working Papers 11, The Vienna Institute for International Economic Studies, wiiw.
    7. Fukunari Kimura & Hyun-Hoon Lee, 2006. "The Gravity Equation in International Trade in Services," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 142(1), pages 92-121, April.
    8. Matthieu Bussière & Bernd Schnatz, 2009. "Evaluating China’s Integration in World Trade with a Gravity Model Based Benchmark," Open Economies Review, Springer, vol. 20(1), pages 85-111, February.
    9. Foster, Neil & Poeschl, Johannes & Stehrer, Robert, 2011. "The impact of Preferential Trade Agreements on the margins of international trade," Economic Systems, Elsevier, vol. 35(1), pages 84-97, March.
    10. C. Fred Bergsten, 1997. "Open Regionalism," The World Economy, Wiley Blackwell, vol. 20(5), pages 545-565, August.
    11. Vansteenkiste, Isabel & Dées, Stéphane, 2007. "The transmission of US cyclical developments to the rest of the world," Working Paper Series 798, European Central Bank.
    12. Böwer, Uwe & Guillemineau, Catherine, 2006. "Determinants of business cycle synchronisation across euro area countries," Working Paper Series 587, European Central Bank.
    13. C.A. Primo Braga & Raed Safadi & Alexander Yeats, 1994. "Regional Integration in the Americas: Déjà Vu All Over Again?," The World Economy, Wiley Blackwell, vol. 17(4), pages 577-602, July.
    14. Rault, Christophe & Sova, Robert & Sova, Anamaria, 2007. "Modeling International Trade Flows Between Eastern European Countries and OECD Countries," IZA Discussion Papers 2851, Institute for the Study of Labor (IZA).
    15. Maurice Schiff & L. Alan Winters, 2003. "Regional Integration and Development," World Bank Publications, The World Bank, number 15172, March.
    16. Soloaga, Isidro & Winters, L. Alan, 1999. "How has regionalism in the 1990s affected trade?," Policy Research Working Paper Series 2156, The World Bank.
    17. P. Hiebert & I. Vansteenkiste, 2010. "International trade, technological shocks and spillovers in the labour market: a GVAR analysis of the US manufacturing sector," Applied Economics, Taylor & Francis Journals, vol. 42(24), pages 3045-3066.
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    More about this item


    regionalization; globalization; literature review;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F0 - International Economics - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F1 - International Economics - - Trade

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