Lecture%20Outlines%20on%20What%20Do%20Economists%20Mean%20by%20Globalization(2)

Lecture%20Outlines%20on%20What%20Do%20Economists%20Mean%20by%20Globalization(2)

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LECTURE OUTLINES Click to Read “What Do Economists Mean by Globalization” by Jeffrey Frankel What do economists mean by “globalization”? Integration through international trade of markets in goods and services. These include direct measures of barriers, e.g., tariffs and transport costs; quantity-related measures of the result, i.e., trade volumes. (p.1) Financial integration through international trade in assets: direct measures of barriers, e.g., capital controls and transactions costs; quantity-related measures of the result, i.e., gross and net capital flows, portfolio shares, or consumption sharing. (p.1) Foreign direct investment, increased trade in intermediate products (especially within multinational corporations), international outsourcing of services, and international movement of persons. (p.1) Finally, globalization would include the international spread of ideas, from consumer tastes (Coke and the Simpsons, sushi, etc.) to intellectual ideas (technological patents,
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This note was uploaded on 04/24/2010 for the course MARK 3336 taught by Professor Cox during the Spring '10 term at University of Houston - Downtown.

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Lecture%20Outlines%20on%20What%20Do%20Economists%20Mean%20by%20Globalization(2)

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