Limits to Globalization?

Limits to Globalization?

by: Holger Flörkemeier

Verlag für Wissenschaft und Forschung, 2002

ISBN: 9783897001725 , 41 Pages

Format: PDF, Read online

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Limits to Globalization?


 

Globalization means the elimination of market segmentations on a global scale. This process has its roots in (1) an increasing interconnectedness of international markets and (2) the homogenization of international consumer demands. The objective of the present study is to find out how far the process of globalization has developed with respect to world trade. Several methods are employed to discern functional trading regions and to analyze their development over time. Complex proxy variables are being developed to estimate the influence of political, economic and cultural distances in addition to geographic distances in a gravity model framework. Trade is found to be still concentrated regionally not only due to regional trade blocs but because of the existence of a number of homogeneous economic regions and higher interregional than intraregional transaction costs.