The Impact of Globalization on World Nations: A Study on Protection, Welfare, and Producer Gain
Article Sidebar
Main Article Content
Abstract
This paper examines the effects of globalization on nations, focusing on economic, social, and cultural dimensions. It analyzes the roles of protectionism and globalization in shaping consumer welfare and producer earnings through qualitative methods and the Customs Union theory framework. The study discusses the benefits and drawbacks of globalization in the context of World Trade Organization (WTO) regulations.
The findings indicate that globalization has intensified financial flows between countries, which can exacerbate economic crises. Countries with abundant human resources can capitalize on the international division of labor to specialize in high-value sectors, while those with limited resources risk falling behind in the digital landscape. This division of labor fosters specialization and improves production efficiency through targeted education.
However, multinational corporations often impede cost-effective production in developing nations, underscoring the necessity to restructure research and development to facilitate technology adoption in underdeveloped areas. This restructuring can help close the technological gap and encourage equitable participation in the global economy.
Jel code Classification: D6: Welfare economics, Fo1 Global outlook, F40: General F4: Macroeconomics aspects of international trade and finance
Article Details
Copyright (c) 2024 Akalpler E.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
The Archives of Case Reports is committed in making it easier for people to share and build upon the work of others while maintaining consistency with the rules of copyright. In order to use the Open Access paradigm to the maximum extent in true terms as free of charge online access along with usage right, we grant usage rights through the use of specific Creative Commons license.
License: Copyright © 2017 - 2025 | 
Open Access by Archives of Case Reports is licensed under a Creative Commons Attribution 4.0 International License. Based on a work at Heighten Science Publications Inc.
With this license, the authors are allowed that after publishing with the journal, they can share their research by posting a free draft copy of their article to any repository or website.
Compliance 'CC BY' license helps in:
| Permission to read and download | ✓ |
| Permission to display in a repository | ✓ |
| Permission to translate | ✓ |
| Commercial uses of manuscript | ✓ |
'CC' stands for Creative Commons license. 'BY' symbolizes that users have provided attribution to the creator that the published manuscripts can be used or shared. This license allows for redistribution, commercial and non-commercial, as long as it is passed along unchanged and in whole, with credit to the author.
Please take in notification that Creative Commons user licenses are non-revocable. We recommend authors to check if their funding body requires a specific license.
Smith A. The wealth of nations. New York: Penguin Classics; 2018.
Sen AK. Development as freedom. New York: Anchor Books; 1999.
Atkinson AB. Inequality: what can be done? Cambridge, MA: Harvard University Press; 2015.
Piketty T. Capital in the twenty-first century. Cambridge, MA: Harvard University Press; 2014.
World Bank. World development indicators [Internet]. 2021 [cited 2021 Oct 18]. Available from: https://databank.worldbank.org/source/world-development-indicators
Milanovic B. Global inequality: a new approach for the age of globalization. Cambridge, MA: Harvard University Press; 2016. Available from: https://www.imf.org/external/pubs/ft/fandd/2016/03/pdf/book2.pdf
Gilpin R. The challenge of global capitalism. Princeton, NJ: Princeton University Press; 2002; 296-297. Available from: https://press.princeton.edu/books/paperback/9780691092799/the-challenge-of-global-capitalism?srsltid=AfmBOopHbhwiUPY_2CuIeO_B9u7T8wvVVxytgfHMw7huGJ_FtImq2gRu
Leavy P. Research design: quantitative, qualitative, mixed methods, arts-based, and community-based participatory research approaches. New York: Guilford Publications; 2017; 47(1):101-102. Available from: http://dx.doi.org/10.1111/fcsr.12276
Rodrik D. Populism and the economics of globalization. J Int Bus Policy [Internet]. 2018 [cited 2021 Oct 18]. Available from: https://drodrik.scholar.harvard.edu/files/dani-rodrik/files/populism_and_the_economics_of_globalization.pdf
Stiglitz JE. Globalization and its discontents revisited: anti-globalization in the era of Trump. New York: WW Norton & Company; 2018. Available from: https://wwnorton.com/books/9780393355161
Bhagwati J. Termites in the trading system: how preferential agreements undermine free trade. Oxford: Oxford University Press; 2008. Available from: https://scholarship.law.columbia.edu/books/261/
Bhagwati J. In defense of globalization. Oxford: Oxford University Press; 2004. Available from: https://global.oup.com/ushe/product/in-defense-of-globalization-9780195330939?cc=in&lang=en&
Kumcu E. Newspaper article. Hürriyet. 2002;9.
Rodrik D. Straight talk on trade: ideas for a sane world economy. Princeton, NJ: Princeton University Press; 2018. Available from: https://press.princeton.edu/books/hardcover/9780691177847/straight-talk-on-trade
Mouffe C. For a left populism. London: Verso; 2018. Available from: http://www.mcrg.ac.in/Friday_Lecture/chantal-mouffe-for-a-left-populism.PDF
Kaltwasser CR. Populism and the economy: an ambivalent relationship. International Policy Analysis. Bonn: Friedrich Ebert Stiftung; 2019. Available from: https://library.fes.de/pdf-files/iez/15244.pdf
Keeley B. Income inequality. OECD insights. UN News Centre. Income gap between rich and poor is huge and growing, warns UN report [Internet]. 2015 [cited 2021 Oct 18]. Available from: https://doi.org/10.1787/9789264246010-en
de Grauwe P. Economics of monetary union. Oxford: Oxford University Press; 2012; 61. Available from: https://econpapers.repec.org/bookchap/oxpobooks/9780199605576.htm
Stiglitz J. Globalism discontents. Am Prospect [Internet]. 2002 Jan 14 [cited 2021 Oct 18]. Available from: https://en.wikipedia.org/wiki/Globalization_and_Its_Discontents
UNCTAD. 2023 report. Available from: https://unctad.org/publication/world-investment-report-2023
UNCTAD. 1998 report. Available from: https://unctad.org/system/files/official-document/wir1998_en.pdf
Pritchett L. Forget convergences, divergence past present and future. Finance and Development Report [Internet]. 1996 Jun [cited 2021 Oct 18];40-43. Available from: https://www.imf.org/external/pubs/ft/fandd/1996/06/pdf/pritchet.pdf
King P. International economics and international economic policy. New York: Irwin McGraw Hill; 2000; 245. Available from: https://www.amazon.in/International-Economics-Economic-Policy-Reader/dp/0070346410
Chomsky N. Profit over people. Hamburg: European Verlag; 1999. Available from: https://www.amazon.in/Profit-Over-People-Neoliberalism-Global/dp/1888363827
Eichengreen B. Financial crises and what to do about them. Oxford Rev Econ Policy. 2002;18(4):530-545. Available from: https://global.oup.com/academic/product/financial-crises-and-what-to-do-about-them-9780199257430?cc=in&lang=en&
King P. Purchasing power parity and real exchange rates. Basingstoke: Palgrave Macmillan; 2000.
Cassel G. Abnormal deviations in international exchanges. Econ J. 1918;28:413-415. Available from: https://www.scirp.org/reference/referencespapers?referenceid=2530504
Balassa B. The purchasing power parity doctrine: a reappraisal. J Polit Econ. 1964;72:584-596. Available from: https://www.jstor.org/stable/1829464
Greenpeace. What we do [Internet]. [cited 2021 Oct 18]. Available from: https://www.greenpeace.org/
Amnesty International. Home [Internet]. [cited 2021 Oct 18]. Available from: https://www.amnesty.org/
World Bank. World development report 2016: digital dividends [Internet]. 2016 [cited 2021 Oct 18]. Available from: https://openknowledge.worldbank.org/bitstream/handle/10986/23647/9781464806711.pdf
BBC. Global food: what are the world's most popular dishes? [Internet]. 2018 Oct 30 [cited 2021 Oct 18]. Available from: https://www.bbc.com/news/world-53408487
UNODC. World drug report 2019 [Internet]. 2019 [cited 2021 Oct 18]. Available from: https://wdr.unodc.org/wdr2019/
United Nations. Charter of the United Nations [Internet]. 1945 [cited 2021 Oct 18]. Available from: https://www.un.org/en/about-us/un-charter/
World Economic Forum. About [Internet]. [cited 2021 Oct 18].
Moussis N. Access to European Union. Geneva: Euro Confidential; 1997; 445. Available from: https://www.amazon.in/Access-European-Union-Nicholas-Moussis/dp/1780682581
OECD. The economic impact of globalisation on France [Internet]. 2021 [cited 2021 Oct 18]. Available from: https://www.oecd.org/economy/the-economic-impact-of-globalisation-on-france.htm
Stiglitz JE. Globalization and its discontents revisited: anti-globalization in the era of Trump. New York: W. W. Norton & Company; 2019. Available from: https://wwnorton.com/books/9780393355161
Burniax, Waelbroek. Impact of CAP on real income of LDCs. 1985.
Lintner, Mazey. The CAP and its effects on world commodity prices. 1991.
Lintner, Mazey. The bureaucratic complexity of the CAP. 1991.
Williamson J, Milner C. The world economy. Harvester Wheatsheaf; 1991;159. Available from: https://www.scirp.org/reference/referencespapers?referenceid=2367649
Global Finance Magazine. International reserves of countries worldwide [Internet]. 2023 Jul 22 [cited 2021 Oct 18]. Available from: http://www.gfmag.com/global-data/economic-data/international-reserves-by-country
IMF. Total reserves [Internet]. [cited 2021 Oct 18]. Available from: http://data.worldbank.org/indicator/FI.RES.TOTL.CD
RankingsLAB. Top 30 countries by total reserves, includes gold (1960-2018) [4K] [Internet]. 2019 Oct 30 [cited 2021 Oct 18]. Available from: https://www.youtube.com/watch?v=hWIg5MMJQL0
Lintner V, Mazey S. The European community. McGraw-Hill Book Company Ltd; 1991.
World Bank. Poverty and shared prosperity 2020: reversals of fortune [Internet]. 2021 [cited 2021 Oct 18]. World Bank Group. Available from: https://www.worldbank.org/en/publication/poverty-and-shared-prosperity-2020
Eichengreen B. The globalization wars: an economist reports from the front lines. Foreign Aff. 2002 Jul/Aug [cited 2021 Oct 18]. Available from: https://www.foreignaffairs.com/reviews/review-essay/2002-07-01/globalization-wars-economist-reports-front-lines