G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15643
DP15643 Globalization and Global Crises: Rest of the World vs. Israel
Assaf Razin
发表日期2021-01-06
出版年2021
语种英语
摘要Post WWII globalization forces are facing headwinds in the form of global crises-the “The Great Recession” and the “The Pandemic Recession”. Israel’s trade and financial globalization, however, is steadily rising. The pandemic-induced slump in economic activity is deep, as consumer spending, investment spending, and export demand tumble. Central banks, tied down by the zero interest rate, resort to semi-fiscal expansionary policies. Indeed, the stabilization burden falls on fiscal policy. The paper provides an overview of the new globalization trends in the world and in Israel, with emphasis on the role of global crises, the Global Financial Crisis, and the Pandemic Crisis in changing globalization long-term trends. When the coronavirus hit, supply chains and production have been disrupted. However, the impact of the pandemic shock is not on the supply side only. On the demand side, the desire to invest has plunged, while people across the rich world are now saving much of their income. Would this short-term changes can reinforce the re-trending of the globalization, which is observed since the Global Financial Crisis? The paper focuses on globalization forces and provides an overview of advanced economies and Israel.
主题International Macroeconomics and Finance
URLhttps://cepr.org/publications/dp15643
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544657
推荐引用方式
GB/T 7714
Assaf Razin. DP15643 Globalization and Global Crises: Rest of the World vs. Israel. 2021.
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