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In the new global economy, more countries have opened up to international competition and rapid capital flows. However, in the triad the process of globalization is rather asymmetric. With a rising role of multinational companies there are favorable prospects for higher global growth and economic catching-up, respectively. Theoretical analysis suggests key ingredients of sustained growth, but there is also a new concept of a long-term equilibrium income gap in which convergence is rather unlikely. The analysis also picks up European and US labor market issues in the context of economic globalization and raises the question of which EU policies in the field of labor market reform and of innovation policies are adequate.
About the author
Paul J. J. Welfens, geb. 1957 in Düren, Studium der Volkswirtschaftslehre in Wuppertal, Duisburg und Paris, Promotion 1985, Habilitation1989. Inhaber des Lehrstuhls für Volkswirtschaftslehre - Schwerpunkt Makroökonomische Theorie und Politik an der Bergischen Universität Wuppertal; Präsident des Europäischen Instituts für Internationale Wirtschaftsbeziehungen (EIIW); Jean-Monnet-Professor für Europäische Wirtschaftsintegration; zuvor Distinguished Research Fellow am AICGS/The Johns Hopkins University, Professor an der Universität Münster bzw. Potsdam, Visiting Alfred Grosser Professor Sciences Po, Paris.
Prof. Dr. Thomas Gries ist Inhaber des Lehrstuhls für internationale Wachstums- und Konjunkturtheorie der Universität-GH Paderborn. Seine Forschungsschwerpunkte sind internationale Wachstumstheorie und Wettbewerbsfähigkeit sowie Außenwirtschaft und Beschäftigungstheorie.
Report
"All in all the book 'Globalization, Economic Growth and Innovation Dynamics' gives an excellent overview about the problems which countries - not only in Europe - have to face in a more and more globalized world." Dr. Indira Gurbaxani, Comptes Rendus
