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The Role of Intra-industry Trade in the World Economy

W. Charles Sawyer and Richard Sprinkle ()
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Richard Sprinkle: Department of Economics and Finance, University of Texas at El Paso

No 201203, Working Papers from Texas Christian University, Department of Economics

Abstract: The concept that the world economy is becoming more integrated is now common place. Terms such as “globalization” or “internationalization” have been integrated into our everyday vocabulary. Over the last several decades, globalization has become a twoway street as goods flow more freely over national borders than any time in recent memory. International travel has gone from being a luxury for the privileged few to being common place for even the middle class in OECD countries. Trillions of dollars flow from one financial market to another every day and foreign direct investment (FDI) has become a large part of total investment in the world economy. Even labor moves among countries much more freely than was once the case.

Pages: 170 pages
Date: 2012-03
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