Globalization of the Economy

42 Pages Posted: 25 Aug 2000 Last revised: 23 Dec 2022

See all articles by Jeffrey A. Frankel

Jeffrey A. Frankel

Harvard University - Harvard Kennedy School (HKS); National Bureau of Economic Research (NBER)

Date Written: August 2000

Abstract

Globalization of trade and finance has gone a long way over the last half-century. But it is less impressive than most non-economists think, judged either by the standard of 100 years ago or by the hypothetical standard of perfect international integration. The paper documents the extent of globalization, and some reasons for the barriers that remains. It then briefly considers the implications for economic growth and the implications for goals not measured by GDP equality and the environment. The conclusion is that globalization is not the primary obstacle to efforts to address such concerns.

Suggested Citation

Frankel, Jeffrey A., Globalization of the Economy (August 2000). NBER Working Paper No. w7858, Available at SSRN: https://ssrn.com/abstract=240064

Jeffrey A. Frankel (Contact Author)

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