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Geopolitics is Changing the Global Economy

Author

Listed:
  • Ali-Yrkkö, Jyrki
  • Kuusela, Olli-Pekka
  • Kuusi, Tero

Abstract

The new era of geopolitics and geoeconomy significantly alters the economic landscape and the operating environment. It is already clear that industrial policies and barriers to international trade increasingly influence the location of investment decisions. These trends challenge the foundations of the international division of labor. Our report outlines the key drivers, assumptions, and policy actions behind these changes. In addition, the report provides recommendations and key principles for a small open economy, such as Finland, on how to navigate the changing landscape.

Suggested Citation

  • Ali-Yrkkö, Jyrki & Kuusela, Olli-Pekka & Kuusi, Tero, 2024. "Geopolitics is Changing the Global Economy," ETLA Reports 150, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:150
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    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-150.pdf
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    More about this item

    Keywords

    Geopolitics; Geoeconomics; Industrial policy; Globalization; Fragmentation;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • L5 - Industrial Organization - - Regulation and Industrial Policy

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