REVIEW OF: “GLOBALIZATION, MIGRATION AND WELFARE STATE: UNDERSTANDING THE MACROECONOMIC TRIFECTA” BY ASSAF RAZIN

Giovanni Facchini

Israel Economic Review, 2021, vol. 19, issue 1, 135-140

Abstract: Economic historians like to compare the main features of the two waves of globalization. A typical summary would highlight that between 1870 and 1914, international trade grew very rapidly, capital was free to move around the globe to reap the highest available returns, and migration was mostly unencumbered. Similarly, after 1960, global merchandise exports grew dramatically as a share of global GDP, and the same holds true for international movements of capital and—possibly to a lesser extent—for international flows of people. One key difference between the two waves of globalization is represented by the role played by the welfare state, which has been key in insuring that the benefits of the recent wave of globalization have been enjoyed by large sections of society, at least in Western democracies. Razin’s recent volume focuses precisely on the interaction between the welfare state and an array of key aspects of globalization, using a general equilibrium political economy framework

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://boiwebrepec.azurefd.net/RePEc/boi/isrerv/IsER_19_2021_1_135-140.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:boi:isrerv:v:19:y:2021:i:1:p:135-140

Access Statistics for this article

More articles in Israel Economic Review from Bank of Israel Contact information at EDIRC.
Bibliographic data for series maintained by Yossi Yakhin ().