Bank Of International Settlements on Deglobalization and Globalization

Globalisation has had a profound effect on economic outcomes, especially in emerging market economies (EMEs). In particular, it is widely acknowledged to have been a major driver of the strong income growth and reduction in poverty witnessed in EMEs in the past few decades. Despite these benefits, there has recently been a backlash against globalisation and growing support for inward looking policies in many parts of the world. Against this backdrop, this volume takes stock of the EME experience with two facets of globalisation-trade and migration. It summarises different country experiences with regard to the aggregate as well as distributional consequences. In doing so, it highlights several examples and avenues for policy action to continue to harness the benefits of globalisation while limiting the costs.

Comments

Post a Comment

Popular posts from this blog

unpacking the possibility of deglobalisation

Finbarr Livesey argues that  he interpretation of the global economy has been framed as an inevitable journey towards ever greater integration—a story of hyper-globalisation. This article discusses the nature of manufacturing to understand whether this interpretation holds and to investigate the possibility of deglobalisation at the level of physical goods trade in the coming decades, and what that may imply for other non-physical elements of globalisation.
Read more

World tourism and deglobalization

Image
Data according Our world in data Deglobalization 2.0 identifies tourism as the exception to deglobalization since 2009 (it is the only component that reportedly returned to above trend growth), but more recent data provided by our world in data allow for a longer time frame. The graph shows that  tourism is clearly above the peak level that was just reached before the outbreak of the Great Recession and on an upward trend. But it also ahows a clear break and a shift. Tourism is not back on trend although it is growing fast again
Read more