The probable impact of policies and policy measures on globalisation
This paper aims to identify the impact of the recent economic and non-economic shocks on the globalisation of trade in terms of trade policy and structural openness, and to take a side in the discussion about the reversal, the slowdown, and the continuation of trade globalisation. The report argues...
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| Format: | Article |
| Language: | English |
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University of Debrecen, Faculty of Economics and Business
2023-12-01
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| Series: | Competitio |
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| Online Access: | https://ojs.lib.unideb.hu/competitio/article/view/13009 |
| _version_ | 1827590950151520256 |
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| author | Miklós Losoncz |
| author_facet | Miklós Losoncz |
| author_sort | Miklós Losoncz |
| collection | DOAJ |
| description |
This paper aims to identify the impact of the recent economic and non-economic shocks on the globalisation of trade in terms of trade policy and structural openness, and to take a side in the discussion about the reversal, the slowdown, and the continuation of trade globalisation. The report argues that geopolitical decisions based on pure political priorities and different macro- and micro-policies may
harm trade globalisation temporarily. Nevertheless, in the long run, underlying
economic factors, such as decreasing trade costs and expanding services trade remain the critical driving forces of globalisation. The speed of the process is likely
to be slower than before, and its characteristics are different. With weakening multilateralism and increasing fragmentation, the emerging global world order will be suboptimal from the point of view of economic efficiency.
Journal of Economic Literature (JEL) codes: F01, F02, F13, F60.
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| first_indexed | 2024-03-09T01:24:55Z |
| format | Article |
| id | doaj.art-ec19acfbba7141d8b94027dbb6e7c16b |
| institution | Directory Open Access Journal |
| issn | 1588-9645 2939-7324 |
| language | English |
| last_indexed | 2024-03-09T01:24:55Z |
| publishDate | 2023-12-01 |
| publisher | University of Debrecen, Faculty of Economics and Business |
| record_format | Article |
| series | Competitio |
| spelling | doaj.art-ec19acfbba7141d8b94027dbb6e7c16b2023-12-10T07:57:57ZengUniversity of Debrecen, Faculty of Economics and BusinessCompetitio1588-96452939-73242023-12-0110.21845/comp/2023/1–2/4.The probable impact of policies and policy measures on globalisationMiklós Losoncz0https://orcid.org/0000-0002-5281-3746Budapesti Business School, Faculty of Finance and Accountancy This paper aims to identify the impact of the recent economic and non-economic shocks on the globalisation of trade in terms of trade policy and structural openness, and to take a side in the discussion about the reversal, the slowdown, and the continuation of trade globalisation. The report argues that geopolitical decisions based on pure political priorities and different macro- and micro-policies may harm trade globalisation temporarily. Nevertheless, in the long run, underlying economic factors, such as decreasing trade costs and expanding services trade remain the critical driving forces of globalisation. The speed of the process is likely to be slower than before, and its characteristics are different. With weakening multilateralism and increasing fragmentation, the emerging global world order will be suboptimal from the point of view of economic efficiency. Journal of Economic Literature (JEL) codes: F01, F02, F13, F60. https://ojs.lib.unideb.hu/competitio/article/view/13009export controlimport protectionismtrade policy and structural opennesssubsidiesglobalisationdeglobalisation |
| spellingShingle | Miklós Losoncz The probable impact of policies and policy measures on globalisation Competitio export control import protectionism trade policy and structural openness subsidies globalisation deglobalisation |
| title | The probable impact of policies and policy measures on globalisation |
| title_full | The probable impact of policies and policy measures on globalisation |
| title_fullStr | The probable impact of policies and policy measures on globalisation |
| title_full_unstemmed | The probable impact of policies and policy measures on globalisation |
| title_short | The probable impact of policies and policy measures on globalisation |
| title_sort | probable impact of policies and policy measures on globalisation |
| topic | export control import protectionism trade policy and structural openness subsidies globalisation deglobalisation |
| url | https://ojs.lib.unideb.hu/competitio/article/view/13009 |
| work_keys_str_mv | AT mikloslosoncz theprobableimpactofpoliciesandpolicymeasuresonglobalisation AT mikloslosoncz probableimpactofpoliciesandpolicymeasuresonglobalisation |