Challenging the deglobalization narrative: Global flows have remained resilient through successive shocks

Steven A. Altman (), Caroline R. Bastian () and Davis Fattedad ()
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Steven A. Altman: New York University Stern School of Business
Caroline R. Bastian: New York University Stern School of Business
Davis Fattedad: New York University Stern School of Business

Journal of International Business Policy, 2024, vol. 7, issue 4, No 2, 416-439

Abstract: Abstract We challenge the popular narrative that the world has entered a period of deglobalization, arguing that deglobalization is still a risk rather than a current reality. Drawing upon the DHL Global Connectedness Index, we show that international flows have not decreased relative to domestic activity, there is not an ongoing shift from global to regional business, and geopolitically driven shifts in international flows still primarily involve countries at the center of present conflicts. We propose policy and research implications, warning that misperceptions of deglobalization could themselves contribute to costly reductions in international openness.

Keywords: Globalization; Deglobalization; Trade; Foreign direct investment; Economic integration (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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DOI: 10.1057/s42214-024-00197-0

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