NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Globalization of the Economy

Jeffrey A. Frankel

NBER Working Paper No. 7858
Issued in August 2000
NBER Program(s):International Finance and Macroeconomics, International Trade and Investment

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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Document Object Identifier (DOI): 10.3386/w7858

Published:

  • 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
  • Art, Robert and Robert Jervis (eds.) International Politics: Enduring Concepts and Contemporary Issues. (7th edition) Longman, 2005.
  • Frieden, Jeffry, David Lake and J. Lawrence Broz (eds.) International Political Economy. New York: Norton, 2009.

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