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The debate over globalisation has intensified over the past decade. Recognition that globalisation comes with grave risks has garnered political support for regionalism as a strategy to build economic and financial resilience. This study is the first attempt to develop a new composite index of globalisation building on the separate contributions of intraregional and extraregional integration. The...
This paper adopts a target zone approach to analyse and interpret the current phase of slowdown, if not retreat, of economic globalisation. A ‘honeymoon’ emerges when a credible limit is imposed on its economic and social costs. Conversely, if the upper cost threshold is not set credibly, a ‘divorce’ from economic globalisation emerges earlier than if no target is taken into account. Such a second...
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