Exercise 2

Exercise 1

A) Stylised facts I: International trade   Take a look at the Figure on world merchandise export as it has been reported by the World Trade Organisation (www.wto.org) and choose the right answer (note: more than one answer is possible). Figure: world merchandise export (1980-2005)

Q1: Based on your previous studies and what you have learnt from the media, what measures can you mention regarding international trade?(b) volume/value of export (of goods and/or services), (d) volume/value of import (of goods and/or services) Q2: What trends can you see in the picture?(d) increase Q3: When did the world experience stagnation in world merchandise export?(b) during the early eightie Q4: How many years were needed for the world merchandise export to double if the starting year is 1980? (d) appr. ten years Q5: There was a slight decline in year 2001. What do you think what might have caused the decrease?(b) September 11 Q6: Is there a positive or a negative association between world merchandise export and world real per capita GDP (for GDP growth rate trends (c) positive

B) Stylised facts II: Multinational companies   Q1: Regarding FDI inflows in the world, what trend(s) can you see in the picture?(d) a steady increase Q2: In which year did the world FDI inflow reach the 1,000,000 million dollar threshold? (c) 1999 Q3: How much was the FDI inward stock in 2004?(a) 8,902,153 million dollars Q4: Which group benefited the most from FDI inflow during the last few decades? (Concentrate on stock variables in 2004.)(b) developed economies Q5: Which group benefited the most from FDI inflow during the last few decades? (Concentrate on stock variables in 2004)(d) developed Europeans Q6: Which group spent the most on investing abroad during the last few decades? (Concentrate on stock FDI outflow variables in 2004)(c) developed Europeans Q7: Which group benefited the least from FDI inflows? (Concentrate on stock variables in 2004.)(d) LDCs (Least Developed Countries)  

Exercise 2

Q1: The driving forces behind globalisation are the following: (a) political, economic and technological developments.

Q2: Today, the largest home and host economy of FDI is: (c) the USA.

Q3: Has the financial revolution contributed to the increase of available capital to developing nations? (b) Yes, it has contributed to it.

Q4: Novel technologies in transportation have caused…

(a) a substantial fall in the costs of transportation.

Q5: Have international economic cooperation and new economic policies contributed to the intensification of globalisation?

(c) Yes, significantly.

Q6: Is the nation-state an anachronism?

(a) According to some, yes, it is. However, the author disagrees with the claim.

Q7: Which of the following statements are correct according to the textbook?

(d) Nation-states remain the dominant actors in both domestic and international economic affairs.

Q8: Regionalism entails…

(a) an increased regionalisation of foreign investment, production and other economic activities.

Q9: One of the following factors is not considered as an engine of globalisation. Which one is it?

(d) culture

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