The economic and social costs of globalisation: A target zone analysis

Pompeo Della Posta

The World Economy, 2021, vol. 44, issue 3, 633-644

Abstract: This paper adopts a target zone approach to analyse and interpret the current phase of slowdown, if not retreat, of economic globalisation. A ‘honeymoon’ emerges when a credible limit is imposed on its economic and social costs. Conversely, if the upper cost threshold is not set credibly, a ‘divorce’ from economic globalisation emerges earlier than if no target is taken into account. Such a second case represents the recent events.

Date: 2021
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