IMPACT OF GLOBALIZATION ON MACROECONOMIC POLICY

Globalization – the growing integration of economies and societies around the world – has been one of the most hotly-debated topics in international economics over the past few years. Rapid growth and poverty reduction in some countries that were poor 20 years ago have been positive aspects of globalization. But globalization has also generated significant international opposition to concerns about increased inequality and environmental degradation. There are many definitions of globalization. One of them could be: globalization is an ecosystem in which economic potential is no longer defined or contained by political and geographic boundaries. Economic activity has no bounds in a globalized economy. A globalized world is one where goods, services, financial capital, machinery, money, workers and ideas migrate to wherever they are most valued and can work together most efficiently, flexibly and securely. Where does economic policy come into play in this world? This paper presents some aspects of globalization and the impact on the new strategy of macroeconomics policy.globalisation, economic trends, macroeconomic policy

Commonalities and Disparities among the EU Candidate

One of the important challenges of the European Union (EU) at the beginning of the 21st century is its enlargement. After the integration of the 12 countries in 2005 and 2007, the EU continues its strategy for stability, security and prosperity in Europe. The new candidate countries, at different levels of development, are Western Balkan countries and Turkey. The objective of the paper is to investigate the differences among the EU candidate countries according to the current measures of welfare/sustainability and to find their similarities and differences. This analysis of the differences and the similitude between candidate countries is done by using multidimensional scaling method (MDS) and hierarchical cluster analysis of sustainability, which takes into account, at the same time, economic, health, standard of living, people and environmental variables, as part of the multivariate statistical analysis technique - one of the basic methods of multidimensional scaling. Furthermore, MDS method allows a standardized (transformed) analysis of the data collected in different scales. This study is based on the data standardized by means of Z score transformation. The main conclusions of the analysis light up the differences between candidate countries and could be an important tool for the policy makers to focus their efforts on the difficult goal to join the European Union.multidimensional scaling, hierarchical cluster analysis, statistical analysis

The Lisbon Strategy

The Lisbon Strategy Targets are presented and assessed as accordingly to the domains of the structural indicators, the common indicators created to measure the progress towards reaching these objectives: Economic performance; Employment; Research, Innovation and education; Economic reform; Social cohesion; Environment.structural indicators, economic performance.

THE EFFECTS OF GLOBALIZATION IN NATIONAL ACCOUNTS

In the OECD Handbook on Economic Globalization, the term “globalization” is used to describe” the increasing internationalization of financial markets and of markets for goods and services. Globalization refers above all to a dynamic and multidimensional process of economic integration whereby national resources become more and more internationally mobile while national economies become increasingly interdependent.”Understanding globalization requires theory as well as facts, but certainly the facts are key ingredients in any assessment of this important phenomenon. Indeed, the facts are necessary to test the theories and to quantify the importance of what the theories predict.New concepts are emerging as economists address the issues of globalization and they need to be better defined and measured. In particular, there is a need for standard concepts and definitions in the area of globalization and its effects. Work under way internationally on SNA 93 rev 1 should help considerably in this regard. There is a pressing need for greater coordination and cooperation in this domain. This paper, presents some of the issues involved in measurement of the indicators of globalization and in using those indicators to quantify and describe the phenomenon and to evaluate its economic impact.globalisation wave, interaction and integration, measurement, national accounts, statistics, trans- and multinational companies

THE EFFECTS OF GLOBALIZATION IN NATIONAL ACCOUNTS

In the OECD Handbook on Economic Globalization, the term “globalization” is used to describe” the increasing internationalization of financial markets and of markets for goods and services. Globalization refers above all to a dynamic and multidimensional process of economic integration whereby national resources become more and more internationally mobile while national economies become increasingly interdependent.”Understanding globalization requires theory as well as facts, but certainly the facts are key ingredients in any assessment of this important phenomenon. Indeed, the facts are necessary to test the theories and to quantify the importance of what the theories predict.New concepts are emerging as economists address the issues of globalization and they need to be better defined and measured. In particular, there is a need for standard concepts and definitions in the area of globalization and its effects. Work under way internationally on SNA 93 rev 1 should help considerably in this regard. There is a pressing need for greater coordination and cooperation in this domain. This paper, presents some of the issues involved in measurement of the indicators of globalization and in using those indicators to quantify and describe the phenomenon and to evaluate its economic impact

Cost or benefit of the transition

This study tries to quantify the impact of transition in Eastern countries in an early stage on the cost-side and also on the benefit-side. The exposition plan includes: 1) Introduction; 2) Structural distortions; 3) Transition versus stability.shock transition; gradual transition; economic modeling; instability zone; stability zone

Coût ou bénéfice de la transition

This study tries to quantify the impact of transition in Eastern countries in an early stage on the cost-side and also on the benefit-side. The exposition plan includes: 1) Introduction; 2) Structural distortions; 3) Transition versus stability

IMPACT OF GLOBALIZATION ON MACROECONOMIC POLICY

Globalization – the growing integration of economies and societies around the world – has been one of the most hotly-debated topics in international economics over the past few years. Rapid growth and poverty reduction in some countries that were poor 20 years ago have been positive aspects of globalization. But globalization has also generated significant international opposition to concerns about increased inequality and environmental degradation. There are many definitions of globalization. One of them could be: globalization is an ecosystem in which economic potential is no longer defined or contained by political and geographic boundaries. Economic activity has no bounds in a globalized economy. A globalized world is one where goods, services, financial capital, machinery, money, workers and ideas migrate to wherever they are most valued and can work together most efficiently, flexibly and securely. Where does economic policy come into play in this world? This paper presents some aspects of globalization and the impact on the new strategy of macroeconomics policy

Frameworks for a sustainable development indicators system

Abstract. In present, the economic development is a key preoccupation of th