GLOBALISATION, INTERNATIONAL COMPETITIVENESS AND GROWTH: ADVANCED AND EMERGING MARKETS, LARGE AND SMALL COUNTRIES

The past three decades have witnessed a rapid tendency toward globalisation in the world economy. A great deal of controversy exists, however, as to whether and to what extent globalisation has increased nations' international competitiveness and growth. After discussing the common characteristics of the rapidly growing economies and the meaning and importance of globalisation, this paper examines the relationship among globalisation, international competitiveness and growth during the most recent period of rapid globalisation for all the countries for which data exists as a group, and then separately for advanced and emerging markets, and for large and small countries.