MACROECONOMIC AND MICROECONOMIC IMPLICATIONS OF GLOBALIZATION AND PUBLIC CHOICE THEORY
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F17%3A43932788" target="_blank" >RIV/49777513:23510/17:43932788 - isvavai.cz</a>
Result on the web
<a href="http://ke.uniza.sk/sites/default/files/content_files/part_iv_final_3.pdf" target="_blank" >http://ke.uniza.sk/sites/default/files/content_files/part_iv_final_3.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
MACROECONOMIC AND MICROECONOMIC IMPLICATIONS OF GLOBALIZATION AND PUBLIC CHOICE THEORY
Original language description
The process of globalization relies on one of the basic principles of economics that specialization and mutual trade can lead to the growth of the economic welfare of stakeholders, as the change in the composition of output of individual national economies will result in an increase in global output. Global business, which in turn leads to falling prices for products and services in the area of pricing, brings its macroeconomic positives when countries involved in the international economy reach a situation where their consumption options always exceed their production possibilities. From a microeconomic point of view, however, the globalization process brings its negative social consequences to employment, as winning global firms displace domestic producers who are unable to succeed in the global international economy. The failure of domestic producers reflects in a rise in domestic unemployment coupled with a significant reallocation of household income with all its socio-economic consequences on the domestic economy. For this reason, the pressure of domestic lobby groups is likely to influence the political and economic decision-making of national governments in the short or medium term, which, in pursuit of electoral victory, benefit from financial, media or other assistance of these very well organized groups. The subject of this contribution is to examine the above-mentioned microeconomic impacts brought about by globalization, from the prism of the theory of public choice, i.e. the economic approach examining the issue of political decision-making using the tools of economic theory.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Globalization and Its Socio-Economic Consequences
ISBN
978-80-8154-212-1
ISSN
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e-ISSN
neuvedeno
Number of pages
9
Pages from-to
1772-1780
Publisher name
ZU - University of Žilina
Place of publication
Žilina
Event location
Rajecké Teplice, Slovensko
Event date
Oct 4, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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