Globalization at Hochschule Hamm-Lippstadt | Flashcards & Summaries

Lernmaterialien für Globalization an der Hochschule Hamm-Lippstadt

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Def.: pollution haven

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= place where an economic activity, that is subject to strict environmental controls in some countries is moved to / sold to because there are less (strict) regulations

→ but evidence suggests this is insignificant compared to pollution without international trade

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what happens to demand & supply for tariffs/ quotas/ export subsidies?

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- increases the home price & quantity supplied

- reduces quantity demanded & quantity traded

- decreases world price when country is large

but: traiffs genereate government revenue, export subsidies drain it; quotas are revenue neutral

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trade is not a zero sum game

(effects of trade integration/ liberalization)

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  • specialization uses production factors more efficiently → economies better off (Smith & Ricardo)
  • difference in factor abundance → specialization among trading-partners (Heckscher-Ohlin)
  • economies of scale & product differentiation → higher productivity levels → increasing welfare
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5 dimensions of globalization

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  • economic: global finance, international trade & business, new labor markets cooperation, dependencies
  • geographical: North-South debate, developed vs. less-developed, regional
  • political/ democracy: human rights, international terrorism, war
  • ecological: sustainable globalization, use of common resources & legislation
  • cultural: multicultural society of different identities: local, political, gender, family, religious, national, individual, social
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current causes for globalization (5)

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  • technological change

communications & transportation revolution

  • government policies

trade & immigration policies, capital controls

  • homogenization of demand structures
  • ending of the cold-war
  • more "players" in global markets (increasing specialization)
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implications of globalization for governance (3)

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  • refashioning of states
  • diffusion of regulation
  • growth of global civil society
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potential negative externalities on the environment (5)

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  • transport & shipping (CO2)
  • flora & fauna enter new regions & endanger local species
  • low ecological standards in LDCs
  • shift of production to „pollution havens"
  • low standards of production
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infant industry arguement

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- developing countries have comparative asvantage in manufacturing

- but new industries  cannot initially compete with well-established ones in developed countries

-so governemnts should temporarily support new industris

- until they have grown strong enough to compete internationally

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historic vs. current globalization

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historic: medium of global empires to enlarge their power as superpowers


current: is shrinkening the world by internet & IT, global corprorations & social movements (NGOs)

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prerequesites for globalization

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structural change is necessary

- workers must shift btw sectors (or regions)

- wages must be flexible

→ social security systems & proper economic policy can support this

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reasons against global environmental standards (2)

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  • could be used as protectionist policy or basis for lawsuits
  • standards set by high-income countries would be expensive for low-/ middle- income countries

but: to the degree that pollution causes negative externalities for other countries, it should be included in international negotiations (e.g. carbon dioxide)

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possible problems of globalization (3)

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- ecologogical, cultural, political & social issues can arise

- owners of resources that are used relatively intensively in industries that compete with imports can be harmed → income distribution affected

- structural change can be significant

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  • 8 Lernmaterialien

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Q:

Def.: pollution haven

A:

= place where an economic activity, that is subject to strict environmental controls in some countries is moved to / sold to because there are less (strict) regulations

→ but evidence suggests this is insignificant compared to pollution without international trade

Q:

what happens to demand & supply for tariffs/ quotas/ export subsidies?

A:

- increases the home price & quantity supplied

- reduces quantity demanded & quantity traded

- decreases world price when country is large

but: traiffs genereate government revenue, export subsidies drain it; quotas are revenue neutral

Q:

trade is not a zero sum game

(effects of trade integration/ liberalization)

A:
  • specialization uses production factors more efficiently → economies better off (Smith & Ricardo)
  • difference in factor abundance → specialization among trading-partners (Heckscher-Ohlin)
  • economies of scale & product differentiation → higher productivity levels → increasing welfare
Q:

5 dimensions of globalization

A:
  • economic: global finance, international trade & business, new labor markets cooperation, dependencies
  • geographical: North-South debate, developed vs. less-developed, regional
  • political/ democracy: human rights, international terrorism, war
  • ecological: sustainable globalization, use of common resources & legislation
  • cultural: multicultural society of different identities: local, political, gender, family, religious, national, individual, social
Q:

current causes for globalization (5)

A:
  • technological change

communications & transportation revolution

  • government policies

trade & immigration policies, capital controls

  • homogenization of demand structures
  • ending of the cold-war
  • more "players" in global markets (increasing specialization)
Mehr Karteikarten anzeigen
Q:

implications of globalization for governance (3)

A:
  • refashioning of states
  • diffusion of regulation
  • growth of global civil society
Q:

potential negative externalities on the environment (5)

A:
  • transport & shipping (CO2)
  • flora & fauna enter new regions & endanger local species
  • low ecological standards in LDCs
  • shift of production to „pollution havens"
  • low standards of production
Q:

infant industry arguement

A:

- developing countries have comparative asvantage in manufacturing

- but new industries  cannot initially compete with well-established ones in developed countries

-so governemnts should temporarily support new industris

- until they have grown strong enough to compete internationally

Q:

historic vs. current globalization

A:

historic: medium of global empires to enlarge their power as superpowers


current: is shrinkening the world by internet & IT, global corprorations & social movements (NGOs)

Q:

prerequesites for globalization

A:
structural change is necessary

- workers must shift btw sectors (or regions)

- wages must be flexible

→ social security systems & proper economic policy can support this

Q:

reasons against global environmental standards (2)

A:
  • could be used as protectionist policy or basis for lawsuits
  • standards set by high-income countries would be expensive for low-/ middle- income countries

but: to the degree that pollution causes negative externalities for other countries, it should be included in international negotiations (e.g. carbon dioxide)

Q:

possible problems of globalization (3)

A:

- ecologogical, cultural, political & social issues can arise

- owners of resources that are used relatively intensively in industries that compete with imports can be harmed → income distribution affected

- structural change can be significant

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