The Rational Expectations in Globalisation: Gauged Globalisation
Journal Title: FOCUS: Journal of International Business - Year 2017, Vol 4, Issue 2
Abstract
The forward march of globalisation seems muted since the financial crisis of 2008. Literature shows globalisation entering a more cautious and regulated phase. We’re creating a “a new gated globalisation” argues Greg (2013). According to him, ‘walls have been constructed’ to obstruct the free flow of trade and money. However, such walls have “gates” that countries can open or close as they please. The present paper argues that Greg’s ‘gated globalisation’ has become ‘gauged globalisation’ because only those gates are opened from which all benefits can be rationally forecasted and then gauged properly by participating players. For better and comprehensive understanding of globalisation we need a good interface of Internalisation, Liberalisation and Universalisation. Through spread and backwash effects, the present paper explains the interface between globalisation and technology and examines the viewpoints regarding the two first at national level and then at global level. The discussion shows that globalisation and technology is not bad; in fact, the bad view is generated by the wrong understanding of the interface between the two.
Authors and Affiliations
Binish Qadri, Mudaser Ahad Bhat, Aamir Jamal
Keywords
Related Articles
- EP ID EP623893
- DOI 10.17492/focus.v4i02.11686
- Views 237
- Downloads 0
An Essay on Understanding Corporate Governance: Models, Theories and Global Evolution
Corporate governance is not an overnight phenomena. It has been existing from a long time. It is only that the beginning of 21st century when colossal enterprises started to fall, government across globe started giving i...
Do Institutional Variables affect FDI inflows? A Panel Data Analysis of South Asian Countries
The study addresses several questions related to the effect of institutional variables on foreign direct investment inflows in South Asian countries consisting of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal,...
Impact of Regional Trade Agreements on India’s Trade Potential: The Case of SAARC and APTA
In view of the growing importance of Regional Trade Agreements (RTAs) in the era of trade liberalization, we examine the impact of two significant RTAs of India, SAARC trading bloc and APTA, on its trade potential. We em...
Development of Institutional Theory and its Application to MNE Context: A Review of Literature
Institutional theory is an important framework for various research fields. It gives a general frame of reference as to what constitutes an institution and what are the factors that affect it. However, the theory require...
Economic Growth and Role of ‘The Missing Half’: A Cross-Country Analysis with Specific Reference to India
Women’s employment is an imperative factor in their advancement towards economic independence yet there is relatively inadequate and mixed evidence on the relationship between economic growth and female labour force part...