Globalisation versus Deglobalisation

28 June 2023DOI: https://doi.org/10.33893/FER.22.2.5

Author information:

Péter Halmai: Hungarian Academy of Sciences, ordinary member; Budapest University of Technology and Economics (BME), Professor of Economics; University of Public Service, Professor of Economics. E-mail:

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.

Cite as (APA):

Halmai, P. (2023). Globalisation versus Deglobalisation. Financial and Economic Review, 22(2), 5–24. https://doi.org/10.33893/FER.22.2.5

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Column:

Our Vision (Essay)

Journal of Economic Literature (JEL) codes:

F02, F10, F15, F20, F42, F51, F60, F62, F68

Keywords:

global and regional integration, deglobalisation, protectionism, outsourcing, global value chains (GVC), fragmentation, productivity spillover, intangible assets, “elephant curve”

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