On the brink of deglobalisation…again

Peter Bergeijk

Cambridge Journal of Regions, Economy and Society, 2018, vol. 11, issue 1, 59-72

Abstract: This article provides an empirical analysis of the disruption of (neo)classical/liberal globalisation during the Great Depression and the Great Recession, identifying challenges to existing knowledges and approaches, in particular the mainstream analysis that studied the Great Recession in isolation, treating it as a special case and ignoring political covariates of deglobalisation processes. The econometric analysis (an unbalanced panel of 31 countries in the 1928–1932 and 128 countries in 2008–2012) does not find an impact from the level of development on deglobalisation. The manufacturing import share is significantly associated with stronger deglobalisation (this effect is stronger in the 1930s than in the 2000s). The political system is highly significant in both 1930s and 2000s, but the sign of its impact is opposite. In the 1930s, autocratic rule and dictatorship are associated with stronger deglobalisation; in the 2000s, democracy is associated with stronger deglobalisation.

Keywords: deglobalisation; Great Depression; Great Recession; politics and trade; world trade collapse; world trade slowdown (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1093/cjres/rsx023 (application/pdf)
Access to full text is restricted to subscribers.

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:oup:cjrecs:v:11:y:2018:i:1:p:59-72.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Regions, Economy and Society is currently edited by Judith Clifton, Anna Davies, Betsy Donald, Emil Evenhuis, Stefania Fiorentino (Associate Editor), Harry Garretsen, Meric Gertler, Amy Glasmeier, Mia Gray, Robert Hassink, Dieter Kogler, Michael Kitson, Linda Lobao, Charles van Marrewijk, Ron Martin, Peter Sunley, Peter Tyler and Chun Yang

More articles in Cambridge Journal of Regions, Economy and Society from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().