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Globalisation versus Deglobalisation

Author

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  • Peter Halmai

    (Hungarian Academy of Sciences, Budapest University of Technology and Economics (BME), University of Public Service)

Abstract

One of the biggest questions in recent years concerns the future of globalisation. Some argue that the rivalry between the USA and China, certain trade policy restrictions and the repercussions of the coronavirus pandemic that threatened global production and supply chains could mean the end of globalisation. In fact, however, we are witnessing a fundamental transformation of the globalised world economy. Identifying the main directions of change is a crucial task for economists as well as a precondition for prudent economic policy action.

Suggested Citation

  • Peter Halmai, 2023. "Globalisation versus Deglobalisation," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 22(2), pages 5-24.
    • Handle: RePEc:mnb:finrev:v:22:y:2023:i:2:p:5-24
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    File URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-22-2-ove1-halmai.pdf
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    Citations

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    Cited by:

    1. Farkas, Beáta & Pelle, Anita & Somosi, Sarolta, 2023. "Az Európai Unió és a geoökonómiai kihívások - ipar- és versenypolitikai válaszok [The European Union and geoeconomic challenges: industrial and competition policy responses]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1193-1212.
    2. Janos Muller & Adam Kerenyi, 2024. "The Challenges of Fragmentation of the International Financial System - Towards a Brave New World Order?," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 23(2), pages 131-155.
    3. Hina Shahzadi & Muhammad Nadim & Zain Ul Abidin, 2023. "The Impact Of Globalization On Income Distribution In Emerging Economies," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(2), pages 67-73.

    More about this item

    Keywords

    global and regional integration; deglobalisation; protectionism; outsourcing; global value chains (GVC); fragmentation; productivity spillover; intangible assets; elephant curve;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F10 - International Economics - - Trade - - - General
    • F15 - International Economics - - Trade - - - Economic Integration
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F68 - International Economics - - Economic Impacts of Globalization - - - Policy

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