The impacts of globalization on the world economy
Keywords:
Globalization, Economy, Industry, SocietyAbstract
This work aimed to present how globalization has generated significant impacts on the world economy. Among these impacts, it is possible to highlight the strong influence on quality of life, communication, industry, and service provision. Considering these conditions, it can be stated that globalization has a direct effect on the behavior of the economy and on the way it has been evolving. This occurs because globalization has promoted important changes in the lifestyles of societies around the world, as well as in their ways of thinking. In order to better understand this context, the study also seeks to present the advantages and disadvantages that this process has brought to world economies. To achieve this objective, the research adopted a bibliographic approach with qualitative, descriptive, and exploratory characteristics, using the understanding of scholars on the subject to present the author’s perspective on the impacts of globalization on the world economy.
References
Cohn, T. H. (2016). Global political economy: Theory and practice (7th ed.). Routledge. https://doi.org/10.4324/9781315659695
Gereffi, G. (2014). Global value chains in a post-Washington Consensus world. Review of International Political Economy, 21(1), 9–37. https://doi.org/10.1080/09692290.2012.756414
Ghosh, J. (2020, September 10). Stop doing business. Project Syndicate. https://www.project-syndicate.org/commentary/world-bank-should-scrap-doing-business-index-by-jayati-ghosh-2020-09
Higgott, R. (2018). Globalism, populism and the limits of global economic governance. Journal of Inter-Regional Studies: Regional and Global Perspectives, 1, 2–23. https://www.waseda.jp/inst/oris/assets/uploads/2018/03/JIRS-Vol.1_Invited-Article_Higgott.pdf
Hurrell, A., & Woods, N. (1995). Globalisation and inequality. Millennium: Journal of International Studies, 24(3), 447–470. https://doi.org/10.1177/03058298950240031001
Mazzucato, M. (2020, October 2). Capitalism after the pandemic: Getting the recovery right. Foreign Affairs. https://www.foreignaffairs.com/articles/united-states/2020-10-02/capitalism-after-covid-19-pandemic
McGrew, A. (2010). Globalization and global politics. In J. Baylis, S. Smith, & P. Owens (Eds.), The globalization of world politics: An introduction to international relations (5th ed., pp. 14–31). Oxford University Press.
Mello, F. de C. (2020). The OECD enlargement in Latin America and the Brazilian candidacy. Revista Brasileira de Política Internacional, 63(2), e011. https://doi.org/10.1590/0034-7329202000211
Oliveira, I. T. M., Carneiro, F. L., & Silva Filho, E. B. da. (Eds.). (2017). Cadeias globais de valor, políticas públicas e desenvolvimento. Instituto de Pesquisa Econômica Aplicada. http://repositorio.ipea.gov.br/handle/11058/8115
Rodrik, D. (2018). What do trade agreements really do? Journal of Economic Perspectives, 32(2), 73–90. https://doi.org/10.1257/jep.32.2.73
Rodrik, D. (2019, June 11). Globalization’s wrong turn: And how it hurt America. Foreign Affairs. https://www.foreignaffairs.com/articles/united-states/2019-06-11/globalizations-wrong-turn
Stiglitz, J. E. (2019). People, power, and profits: Progressive capitalism for an age of discontent. W. W. Norton & Company.
The Economist. (2014, October 4). The third great wave. The Economist. https://www.economist.com/special-report/2014-10-04
Thurbon, E., & Weiss, L. (2020). The state of development in a globalized world: Perspectives on advanced and industrializing countries. In E. Vivares (Ed.), The Routledge handbook to global political economy: Conversations and inquiries (pp. 58–73). Routledge. https://doi.org/10.4324/9781351064545-6
United Nations Conference on Trade and Development. (2019). World investment report 2019: Special economic zones. United Nations. https://unctad.org/system/files/official-document/wir2019_en.pdf
Vivares, E. (Ed.). (2020). The Routledge handbook to global political economy: Conversations and inquiries. Routledge. https://doi.org/10.4324/9781351064545
World Bank. (2019). Global economic prospects, June 2019: Heightened tensions, subdued investment. https://doi.org/10.1596/978-1-4648-1398-6
Downloads
Published
How to Cite
Issue
Section
ARK
License
Copyright (c) 2026 (CC BY 4.0)
This work is licensed under a Creative Commons Attribution 4.0 International License.
