Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/289479 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
BoF Economics Review No. 2/2024
Publisher: 
Bank of Finland, Helsinki
Abstract: 
The world is witnessing growing turbulence stemming from geopolitics and a tangible threat of economic disintegration. There are some indications of globalization in retreat, international trade growth slowing down and a transition from optimizing efficiency of global value chains towards ensuring their resilience. Disentangling the causes and effects of the various trends around global economic integration and pushing towards de-globalization is extremely difficult. This paper aims to inform the policy debate and the research agenda by giving an overarching view of geoeconomic fragmentation, i.e., economic disintegration driven by geopolitics. It defines the relevant concepts, channels of effect and amplification mechanisms, and discusses the main causes and implications of geoeconomic fragmentation.
Subjects: 
geoeconomic fragmentation
globalization
international monetary system
global financial safety net
multilateralism
costs of economic fragmentation
JEL: 
E61
F02
F10
F13
F15
F20
F30
F42
F60
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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