Globalization and Regional Growth in Europe: Past Trends and by Roberta Capello, Ugo Fratesi, Laura Resmini

By Roberta Capello, Ugo Fratesi, Laura Resmini

After an outline of the hot different types of globalization at present shaping our international, and in their attainable spatial results, the e-book highlights which eu areas have long ago succeeded in benefiting from globalization traits and identifies the foremost purposes for his or her good fortune. The booklet additionally deals a potential research using situations according to assorted assumptions of the way globalization developments will increase, deciding upon the local winners and losers for every situation. The research significantly merits from a different database which incorporates, between others, info on FDI by way of zone and professions on the nearby Nuts-2 point for all 27 european international locations. A time-span of greater than 10 years is roofed, and eventualities are built for the long run improvement as much as 2020.

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Sample text

Raw materials, instead, tend to become more important over time, although the sharpest increases have been recorded in the new century, reflecting either the increase in world demand or the increase in prices of commodities. The other two categories of goods are, in general, stable over time, although their patterns have not been constant. In particular, the share of research-intensive goods increased sharply until 1999, when it reached the peak level of about 52% of total world trade, and decreased again afterwards, returning to the initial level, while capital intensive goods exhibited the opposite trend (Fig.

However, the present economic situation contains long-term breaks in the structural features of the economy stemming from recently emerging contradictions: demand based on debt in advanced countries; growth of the financial sector in Western economies; China and BRICs supporting Western consumption with lowprice goods, Western real income due to low inflation, and financing the trade deficit of the USA (buying US Treasury Bonds). As a consequence, the balance of the geopolitical game will be different; winning assets will be different; the dollar will no longer be the only reference currency for international exchanges; a “regionalized” globalization will take place.

1. 3 By contrast, no systematic analyses have been conducted on the impact of globalization processes on regional competitiveness. However, there are differences between the study of the impacts on regional growth of integration processes or of globalization processes. Firstly, in the case of globalization, macroeconomic policies like devaluation of the Euro are still valid competitive policies, and all the pervasive characteristics of the national economy that explain part of regional competitiveness play a greater role, given the more marked difference that exists with respect to extra-European (especially developing) countries.

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