Globalization

Globalization - GLOBALIZATION ECON 0424 Fall 2009 Professor...

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GLOBALIZATION ECON 0424 – Fall 2009 – Professor Arroyo Abad
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Globalization According to Merriam Webster “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” According to the IMF “It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders.”
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Degree of globalization, today Source: The Economist
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Some facts & figures Number of foreign workers: 78 million in 1965 to 191 million in 2005 Number of minutes in cross-border phone communications (per capita): 7.3 in 1991 to 28.8 in 2006 FDI increased from 6.5 (1980) to 31.8 (2006) as % of GDP Source: Based on IMF Outlook Report
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Jagdish Bhawati[ link ] Globalization Noam Chomsky [ link ]
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This note was uploaded on 04/19/2010 for the course ECON 0430 taught by Professor Arroyoabad during the Fall '10 term at Middlebury.

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Globalization - GLOBALIZATION ECON 0424 Fall 2009 Professor...

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