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The European Union Facing the Challenges of Globalisation

Author

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  • Roger Tsafack Nanfosso
  • Juliana Hadjitchoneva

Abstract

The article presents a study of the phenomenon of globalisation, which connects the whole world favoured by the development of free trade, the specialisation in international trade and the prodigious advances of technical progress, and results in challenges unfolding in a triple modality: intensification of commercial exchanges and the interconnection of economies, massification of capital exchanges, and increase in international migration. These developments run many risks globally and also on the European Union level. The objective of the article is to analyse the challenges arising from the triple modality attached to the globalisation with a focus on the European Union and the instruments and mechanisms of governance and control in an attempt to systemise an integrated approach for reduction of the risks and optimisation of the potential gains. The methodological framework makes use of existing statistical and factual data and the institutional analysis of the means of control applied to the material (goods), immaterial (capital), and people (migration) flows.

Suggested Citation

  • Roger Tsafack Nanfosso & Juliana Hadjitchoneva, 2021. "The European Union Facing the Challenges of Globalisation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 27-48.
    • Handle: RePEc:bas:econst:y:2021:i:5:p:27-48
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    File URL: https://www.iki.bas.bg/Journals/EconomicStudies/2021/2021-5/2_Hadjitchoneva.pdf
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    Citations

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    Cited by:

    1. Christina Nikolova & Veronika Garkova, 2022. "Evaluating the Impacts of Passengers’ Rights Policy on the Competitiveness of Airlines and Airport Operators Using the Dynamic Programming Approach," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 94-117.
    2. Weiting Wang & Yi Liao & Wenjing Shen, 2023. "The Impact of Online Anti-Counterfeiting on Channel Structure and Pricing Decisions," Sustainability, MDPI, vol. 15(10), pages 1-26, May.
    3. Roger Tsafack Nanfosso & Juliana Hadjitchoneva, 2021. "Economic theory facing COVID-19: From Adam Smith to John Maynard Keynes," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 7-29.

    More about this item

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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