GLOBALIZATION AND ECONOMIC CRISIS IN EUROPEAN COUNTRIES

Year 2011, Volume: 3 Issue: 1, 209 - 218, 01.06.2011

Silvia Marginean Ramona Orastean

Abstract

The paper analyzes the relation between degree of economic globalization and the
impact of economic crisis for developed and emerging European countries. We
measure economic globalization through indexes based on share of external trade
in GDP and FDI intensity (% of FDI inflows and outflows divided by GDP). The
complexity of current economic and financial crisis could be evaluated through
GDP growth rate, inflation rate, unemployment, public debt, budget deficit,
balance of payments, exchange rate, etc. For the purpose of this paper we used
GDP growth rate as a measure of economic crisis impact on national economies.

Keywords

Globalization, Economic crisis, GDP, European countries

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