Theoretical and Applied Economics
No. 1 / 2023 (634), Spring
An economic analysis of trade war and deglobalization in current international relations within the paradigm of globalization
Annamalai University, Chidambaram Tamil Nadu, India
Abstract. The purpose of the article is on the deglobalization processes currently taking place in international economic interactions, and also attempts to examine how the trade blocs of the major economies affect the rest of globalization. The Kinked Exponential Model was used to determine decadal growth rates based on 31 years of panel data from 1990 to 2020 for 15 large countries (gross domestic product). Three different regression models i.e., Pooled OLS, Fixed- and Randomeffect models were estimated to examine the effects of trade blocs and wars between nations on the world economy. Over the study period, disparities and increasing economic inequality between variables have widened. In addition, international conflicts have had a negative impact on international trade and have significantly affected globalization. More importantly, trade blocs, particularly the OECD, APEC, and BRICS have slowed trade with the rest of the world, reflecting a process known as regionalization, in which countries cooperate rather than at the global level. In particular, during the third decade of the twentieth century, when the growth rate of trade flows among major countries declined rapidly by 8.8 per cent, this regionalization did not stop and expanded significantly.
Contents
Obstacles to innovation and policy implications: exploring the case of Romanian firms
Adjusting the 5C pentagon for better health policymaking: observing the leading behavioural risks factors (diet, smoking, and alcohol consumption)
Incentivizing CEOs via pay and forced turnover: Do tenure and managerial ability matter?
Forecasting the Romanian inflation rate: An Autoregressive Integrated Moving-Average (ARIMA) approach
The effects of geopolitical risks on tourism revenues of the Middle East and Asian countries
The potential of macroeconomic forces and ICT in affecting the sectorial growth: ARDL approach in the context of East Asian countries
Validity of asset pricing models in Istanbul Stock Exchange (ISE) information technology index
Dynamic relationship between external debt and unemployment in Sub-Saharan Africa
An analysis of factors influencing empowerment of rural women through Deendayal Antyodaya Yojana – National Rural Livelihood Mission (SGSY)
The impact of Covid-19 payment moratoria on the Romanian banking system
Uncertainty and monetary policy during the Covid-19 pandemic in Tunisia: Evidence from a Bayesian VAR
Research on the evolution of migration in Romania after the fall of the communist regime
Black Sea and East Mediterranean approach on sustainable development
An economic analysis of trade war and deglobalization in current international relations within the paradigm of globalization
Financial difficulties and economic recession: Evidence from Canadian seniors
Inflation targeting and exchange rate pass-through in India: Lessons from international experience
The circular economics of constructions
Market mood index and stock market. Evidence from National Stock Exchange
Analysis of the effects of social and fiscal policy on incomes during the COVID-19 pandemic in Romania