Globalization - Between Economic Growth And Crisis

Botescu Ion ()
Additional contact information
Botescu Ion: „Ovidius†University of Constanta

Ovidius University Annals, Economic Sciences Series, 2018, vol. XVIII, issue 2, 100-105

Abstract: Globalization is a highly complex phenomenon, the effects of which are difficult to predict and even quantify. Despite all the economic and social progress it has generated, it also raises a number of concerns. The economic growth generated by the liberalization of the markets has not limited the excesses materialized in tax evasion, cross-border economic criminality, etc. Deregulation and excessive liberalization of the markets led to the global financial crisis at the end of the past decade. This crisis must not transform the markets into a genuine scapegoat, but trust in their flawless functioning must be reconsidered, as well as in their capacity to maximize the profit under any circumstances. In the context of the diminishing role of the different countries’ borders, there is an increasing dependence of the economies of different countries on the world economy. The effect of this state of affairs is reflected in the vulnerability of the states in relation to the disturbances in the global economy and the amplification of the intensity of global crises. The main issues addressed in this paper are focused on the economic growth achieved over the last decades globally, the distribution of economic growth by category of countries, the effects it has had on the population, as well as the intensification of the frequency and impact of the crisis on the economy. The aim of this scientific approach was to highlight the problems faced by the world in the current globalization period, highlighting the need to find solutions that would help moralize the globalization phenomenon; thus, ordinary citizens would no longer be dominated by the fear of losing their jobs, by the fear of a hindered access to medical or education services.

Keywords: globalization; economic growth; crisis; poverty; deregulation (search for similar items in EconPapers)
JEL-codes: F63 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2019/02/4-1.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:ovi:oviste:v:xviii:y:2018:i:2:p:100-105

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().