Globalisation, Economic Growth and COVID-19. Insights from International Finance

Monica RAILEANU Szeles () and Corina Saman
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Monica RAILEANU Szeles: Transilvania University of Brasov, and Institute for Economic Forecasting, Romanian Academy.

Journal for Economic Forecasting, 2020, issue 3, 78-92

Abstract: This paper examine whether the globalisation positive and negative side effects on economic growth significantly differ across the European Union’s Member States, by focusing on a set of indicators from the area of international finance. The empirical results derived from a set of Eurostat panel data guide us to formulate a set of policy recommendations intended to overcome and ease the adverse shocks that may prevail in the EU economies during and after global crises, such as the Covid-19 pandemic. The paper finds that the foreign controlled companies significantly influence the foreign direct investment inflows and economic growth, but their impact is different across the EU countries, with significant differences between the New and Old Member States. Although common EU initiatives and policies are needed to overcome the side effects of globalisation manifested through global crises, national reactions and measures are needed too, especially on short term.

Keywords: : globalisation; Covid-19; economic growth (search for similar items in EconPapers)
JEL-codes: C23 F62 F65 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2020:i:3:p:78-92

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