DP15331 De-globalization: Driven by Global Crises?

Author(s): Assaf Razin
Publication Date: October 2020
Date Revised: October 2020
Programme Areas: International Macroeconomics and Finance
Link to this Page: cepr.org/active/publications/discussion_papers/dp.php?dpno=15331

International trade increased rapidly after 1990, fueled by the growth of a complex network of global value chains Trade globalization reversed course since the Global Financial Crisis. The new trend is expected to endure after the Global Pandemic Crisis. There are no indication of lessening trend of financial globalization, which, except for short term reversal during the Global Financial Crisis.