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Globalisation : trends, issues and macro implications for the EU

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  • Cécile Denis
  • Kieran Mc Morrow
  • Werner Röger

Abstract

Globalisation, defined as an increasingly integrated world economy, has the potential to generate the largest structural upheaval in economies since the industrial revolution. As in the past, this process is being underpinned by both technological change and by a shift in policies in many countries towards a more open, market based, system of economic governance. These policies reflect the realities of a new world order where knowledge creation and absorption and the flexibility of the regulatory and institutional frameworks will be the key determinants of the economic fortunes of economies. This paper examines the historical empirical evidence regarding globalisation and quantifies the macro benefits and costs for the EU over the coming decades.

Suggested Citation

  • Cécile Denis & Kieran Mc Morrow & Werner Röger, 2006. "Globalisation : trends, issues and macro implications for the EU," European Economy - Economic Papers 2008 - 2015 254, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:ecopap:0254
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    References listed on IDEAS

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    3. Wim Suyker, 2007. "The Chinese economy, seen from Japan and the Netherlands," CPB Memorandum 185.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Alho, Kari & Widgren, Mika & Kaitila, Ville, 2008. "Offshoring, Relocation and the Speed of Convergence in the Enlarged European Union," CEPR Discussion Papers 7000, C.E.P.R. Discussion Papers.
    5. Socol Cristian & Socol Aura Gabriela & Marinas Marius-Corneliu, 2008. "The Analysis Of Equity-Efficiency Trade-Off In The European Union Economy," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 442-448, May.
    6. Isabelle Bensidoun & Françoise Lemoine & Deniz Ünal, 2009. "The integration of China and India into the world economy: a comparison," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 6(1), pages 131-155, June.
    7. Wim Suyker, 2007. "The Chinese economy, seen from Japan and the Netherlands," CPB Memorandum 185, CPB Netherlands Bureau for Economic Policy Analysis.
    8. Harold Creusen & Arjan Lejour, 2009. "The contribution of trade policy to the openness of the Dutch economy," CPB Document 194, CPB Netherlands Bureau for Economic Policy Analysis.

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