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Technology and Growth: Between Regionalization and Globalization

In: What Global Economic Crisis?

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  • Pascal Petit

Abstract

The process of internationalization, by changing regulations and practices, is eroding the institutional fabric, which has determined past national growth patterns. Because this process takes place within a whole set of partner countries, it might be thought that all development paths would be affected in the same way. It might be further considered that growth rates are now, as a consequence, converging towards a similar pattern, best described by a single model of a new more open economic environment. However, this view rules out any alternative approach to modelling the effect of globalization and is thus greatly oversimplified and prevents the formulation of alternative realistic policy targets. We may identify two major shortcomings of this monocausal approach.

Suggested Citation

  • Pascal Petit, 2001. "Technology and Growth: Between Regionalization and Globalization," Palgrave Macmillan Books, in: Philip Arestis & Michelle Baddeley & John McCombie (ed.), What Global Economic Crisis?, chapter 9, pages 178-202, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99274-6_9
    DOI: 10.1057/9780333992746_9
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