Economic Globalisation - A global or semi-global village? (from the 1990s to today)


There was an unprecedented integration of world economies in the 1990s under the combined influence of the opening of Communist Bloc countries to the market economy and the ICT revolution. Goods and capital, with a few exceptions, underwent massive globalisation. Services and workers experienced more limited globalisation, despite growth in some areas.

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Chapter 4 describes the globalisation process since the 1990s, in the sense most commonly understood, stemming from two major phenomena: the opening of the large, formerly communist countries to international markets and the new information and communication technologies (ICT) revolution. It examines the way globalisation has gained pace over the past 20 years, studying in turn the (particularly developed) globalisation of goods and capital and the globalisation of services and people (in many respects, still in its infancy). It will also attempt to assess how globalised the world economy is today.

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  Source: OECD (2010), OECD Factbook 2010, OECD Publishing.


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