Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Globalization and Economic Policy Control - Term Paper Example

Comments (0) Cite this document
The question discusses whether globalization limits the capability of domestic governments to lose control over their economic policy or not. It is truly difficult to define what globalization is and under what conditions it can provide desired benefits. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Globalization and Economic Policy Control
Read Text Preview

Extract of sample "Globalization and Economic Policy Control"

Download file to see previous pages The socio-political changes are so strong that the society is no longer considered the same which our forefathers witnessed and as such these changes have made gradual changes into the societal values as well as norms. (Polanyi,2000).

There are two different issues regarding the role of globalization as many argue that governments, due to globalization, have lost their control over their own sovereignty. On the other hand, it is said that due to globalization, the world as a whole, benefit from globalization. It is often argued that with the increased globalization, governments often lose control over their own economic affairs and as such many developing countries consider globalization as a force that is in direct contravention of their sovereignty and control over their own domestic affairs. Due to globalization, domestic institutions gradually lose control over economic policymaking as global organizations largely influence their decision-making process and the resulting changes would bring in more economic hardship rather than economic affluence for the country.

Many developing countries also fear that the resulting changes would create such socio-cultural changes that society will no longer remain within its traditional attire and foreign ideas and values will start to dominate society. However, on the other hand, results also indicate that third world countries often benefit from globalization due to sheer transfer of technology, capital as well as knowledge. The resulting changes not only bring prosperity but also economic growth as well as a more secure future of the nation.

Over a period of time, the discipline has evolved into a position where it has integrated many different disciplines and emerged as one of the most talked after the multi-disciplinary concept. As such the current state of the concept inculcates into it various theoretical approaches, different disciplines as well as theoretical foundations, which are currently behind the emergence of the modern definition of globalization.  ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(Globalization and Economic Policy Control Term Paper, n.d.)
Globalization and Economic Policy Control Term Paper. Retrieved from
(Globalization and Economic Policy Control Term Paper)
Globalization and Economic Policy Control Term Paper.
“Globalization and Economic Policy Control Term Paper”.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Globalization and Economic Policy Control

Tobacco Control Policy

Two thirds of the effects are to be felt in developing countries. Every year, around 443,000 people perish prematurely due to exposure to smoke from cigarettes. An additional 8.6 million individuals live illnesses caused by smoking. Despite the risks posed by cigarette smoking, an estimated 46.6 million adults in the US smoke tobacco today. Another 88 million non-smokers are exposed to dangers of cigarette smoking. Fifty four percent of these are children. It is predicted that by 2015, tobacco will account for 10% of the deaths globally (Mathers and Loncar 2006; WHO 2008). Many countries have not succeeded in controlling tobacco totally despite the various efforts made some scholars argue that this failure is motivated by the fac...
16 Pages (4000 words) Research Paper

Understanding economic globalization

Economic journals define globalization as a process by which national economies and cultures are integrated into an international economy so as to enhance international trade, direct foreign investment, migration, and technology sharing. It is generally argued that the concept of globalization greatly contributes to effective and rapid circulation of ideas, languages, and cultural ideologies since nations have liberalized cross-border trade regulations with intent to enhance foreign investment and cross-border trade for international business expansion.On the contrary, Deepak Nayyar strongly claims that globalisation has not led to a rapid growth and economic convergence in the world. He adds that this process greatly slowed down...
7 Pages (1750 words) Essay

Globalization and Economic Development

...? Globalization and Economic Development GLobalization and Economic Development The products and services each country and its people produce and provide are essential for its survival as a nation. Excess capacity translating to excess production normally earns for the country revenue from exports to another country. Conflict arose when these products are in direct competition with the incoming products. In this regard tariffs or taxes are normally increased on the incoming products to ensure that the local producers are protected. This scenario will result to an increase in price for the incoming product that will provide protection for the lower untaxed priced of the local product. However, extra legal means of bringing products...
3 Pages (750 words) Essay

Globalization. Globalization In Economic

... cultures through modernization and the rising levels of global terrorism. In a nutshell, the process has positive and negative implications on countries world over. This essay addresses the complex concept of globalization and focuses on its economic aspect. It can be noted that global economic activities have become more integrated and economically oriented over the recent past. It takes the form of increased trade among nations, an increase in imports and exports, an overall growth of foreign investments and foreign loans. This is due to the existence of better policies and a friendlier economic environment (Knickerbocker 76). In fact, most modern economies argue that it is meaningless to form one’s thinking on national economies...
5 Pages (1250 words) Research Paper

Economic Globalization

...." (Weiss, 1997) Many significant changes have taken place inside nation-states in recent times. On the social policy front, there has been a decisive move towards fiscal conservatism, with reforms to taxation systems and the trimming of social programmes (see Rhodes, 1996; Swank, 1997). In the economic sphere, governments have moved towards greater openness in matters of trade, investment and finance. These changes may be regarded as evidence of the emergence of a new global order of capitalism. Under this order, states may be forced to adopt similar fiscal, economic and social policy regimes moulded as per the dominating economy . Globalists therefore predict economic convergence as more and more states adopt the low-taxing, market-based...
8 Pages (2000 words) Essay

Economic globalization in China

... their attention from the ideological warfare and class struggles to the economical development. Moreover the emergence of Deng Xiaoping as the leader of China after Mao gave momentum to the economic development activities. Globalization has brought revolutionary changes in china. China’s GDP was dollar 4.5 trillion in 2000, second only to US whereas the GDP per capita was $ 3600 in 2000. The trading power of China was in the 32nd place in 1978, 15 th in 1989, and 6 th in 2001. China was the world’s fifth largest exporter and 6 th largest importer in 2002. FDI in 2002 was around $ 50 billion. The number of poor has declined from 250 million in 1978 to 30 million in 2000. Population growth has been controlled by controlling the birth rate...
5 Pages (1250 words) Essay

Economic Benefits of Globalization

The paper shows that 3M (Minnesota Mining and Manufacturing) would lose more than 53% of its revenues if the American government asks them to restrict their operations within the United States (Barrera, pp. 17, 2007).
Exxon Mobil is an American firm but it receives only 25 percent of its yearly revenues from operations within the United States (Welfens, 102-103, 1999). Finnish employees no longer form the majority at Nokia’s headquarter, which is a Finland based company; surprisingly, employees from China and India dominate the numbers (Chatterji & Gangopadhyay, 89-93, 2005). Honda, a Japanese automobile maker, has its biggest production plant in Ohio. When Pakistani government decided to impose a 25% duty on the i...
7 Pages (1750 words) Case Study

Economic Globalization

Economic Globalization Definition Globalization is defined as “…a widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual’ (Held and McGrew 1999, p. 2 cited in UC Atlas, n.d.). On the other hand, economic globalization refers to the increased linkage between livelihoods as well as development of services and products on a global level.
There is a lot of subjectivity about the concept of economic globalization and there is no universally acknowledged concept as such. In general terms, economic globalization can be considered as an objective trend that features allotment of factors of production as well as tr...
2 Pages (500 words) Essay

Economic globalization of Argentina

ublic sector reforms, capital movement, and trade liberalization along the 90s, which projected the nation’s progress as the globalization model of economic success. Fortunately, despite the Mexican crisis in the mid of the 90’s, Argentina experienced high GDP growth and income level, but its economy could not avoid the increasing inequality and unemployment levels, and later billions of public debt and uncompetitive currency level.
Thesis: This document brings out and elaborates the consequences of the economic globalization of Argentina’s finance, trade and labor since the 1990s. It argues that poorly controlled economic integration with the global economy contributed to the financial strain, collapse of fixed exchange rate...
6 Pages (1500 words) Essay

Contemporary Issues in World of Politics Climate Change Policy

It is more than a particular problem of any specific community. In fact, climate change has a wider global nature compared to other environmental issues and it affects the people of every nation and boundary. Therefore, the issue of climate change has a far wider reach than the other environmental issues and it is an issue concerned with almost all the international communities. It is identifiable that national boundaries may attempt to prevent the movement of people and goods across the boundaries of the nation. However, when it comes to pertinent environmental issues such as climate change, these issues do not stop at borders, making them – some would argue – quintessentially global phenomena. “Climate change i...
6 Pages (1500 words) Case Study

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages (2250 words) Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages (1750 words) Case Study

UK Employment Policy

Analysts explain that this situation is not simply because citizens don’t want to exercise this fundamental right, but largely because of the continued failure of the governments to institute an effective implementation of employment policies put in place (Howell, 2005). It has clearly been demonstrated by Mathew (2006) that the United Kingdom government has shown a lot of unwillingness in tackling the reported unemployment crisis.

Available research findings reveal that there are high unemployment rates among UK born ethnic minorities which show great diversities. According to a 2001 report, it is shown that unemployment rates amongst UK born men and women from black, Bangladeshi and Pakistani ethnic groups were...
9 Pages (2250 words) Case Study

Money Policy versus Credit Market

Financial institutions generally engage in securitization to enhance their profits by trading in the collateralized backed securities that generate high yield returns to the financiers. This nevertheless inversely and negatively affected the credit markets as their efforts to enhance their liquidity positions backfired. Consequently, the import of these monetary strategies has generated cyclical effects on the monetary system to the detriment of the financial system.

Normally, money markets demonstrate a more efficient allocation of credit whenever additional liquidity is injected into the system, which would otherwise display some undesirable distortions. Ultimately, the liquidity market is not easily susceptible to ex...
6 Pages (1500 words) Case Study

Multiculturalism: Socio-economic Impacts on Modern States

This paper tends to argue that multicultural policies have promoted social segregation and economic insecurity in modern states. As the most relevant example, it will also evaluate how multicultural policies have evolved to be the most recent threat to the nationality and cohesion of Australia and the United Kingdom.

To begin with, many of the policies enacted on citizenship and immigration have brought about incessant controversy in Australia. In addition, the exceeding emphasis put on the multicultural policy has given rather unfavorable outcomes to both Australia and the UK. Policies that are intended to ensure equal representation and opportunities often create frustration and disappointment among certain interest g...
6 Pages (1500 words) Case Study

Globalization and Business Enterprise: Climate Change

Since globalization encompasses political, economical and environmental issues, there has been much debate amongst companies on how resources are to be allocated in order to minimize climate change. Climate change is being dealt with on a global scale. The “Green investing is on the rise”, where investors are buying stocks that are environmentally friendly. New Zealand, like other countries, is supporting the cause for environmental protection by legislative measures in trade, bills regarding carbon emissions and by being part of agreements with the UN and the Kyoto Treaty.

Climate change and globalization are intricately linked. With the passage of time, many environmental issues, like global warming, have...
6 Pages (1500 words) Coursework

The Social, Cultural and Political Consequences of Globalization in KSA

Globalization is considered to be the interconnectedness developed by the increased flow of capital, goods, images, people and their ideologies among various nations. It is the result of the free-market policy of the world economy. It is characterized by the introduction of new technologies and considers humanity to be one social community where social and cultural differences do not exist. Philip Cerny has defined the term as a set of economic and political structures which is the outcome of change in characteristics of goods and assets constituting the economy.

Cultural and social globalization denotes the extensive movement of goods, technologies, ideas, images and people around the entire world which has been...
6 Pages (1500 words) Coursework

North Carolina Wake County Busing Policy

To ensure that the education sector is diversified it is seen that in the United States of America many such policies have been implemented. In 1970s diversity was considered an important tool by the educational experts so that they could help students understand each other. The board of education of North Carolina then formulated a scheme for students through which they could practice a diversity of races in schools. This was known as the North Carolina Wake County Busing Policy which was functional till the late twenty-first century. It was now in July 2010 that the issue was raised again by the educational board members who then decided to scrap the policy of diversity with community-based schools. (Liane Membis 2010; Stacy Tei...
7 Pages (1750 words) Case Study

Economic and Social Impact of Globalization

Global corporations are heightening their awareness of the nature of their business relationships with diverse governments considered of primary importance to manage factors influencing their performance. From among the elements that global organizations closely and continuously evaluate, the social and economic impacts are considered of significant importance. As the components and diverse perspectives of globalization affect both the host organizations and those nations they do business with, this research aims to proffer significant social and economic issues that impact global strategies.

The concept of globalization encompasses theories beyond the traditional view that global corporations merely do business abroad....
7 Pages (1750 words) Coursework

Impacts of Economic Globalization

Economic globalization mainly emphasizes on multiple networks of productive activities and marketing as well as economic developments through extensive use of science and technology (Economic Globalization 2015, p.279). 
Marine insurance is an agreement in which the insurer assumes to cover the insured, in a way as well as to the extent agreed upon, against transit losses (UNCTAD 1982, p.7). In relation to this definition, Marine Hull insurance is concerned with almost everything that floats and moves, ranging from rowing boats to vast ocean-going tankers. In addition to these, hull insures non-propelled objects that move occasionally like floating docks, buoys and floating hotels (Din, Mughal & Farooq 2013, p.660)....
9 Pages (2250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Globalization and Economic Policy Control for FREE!

Contact Us