Editorial: Internationalisation policy

Abstract

The world economy has changed dramatically during the last decades. The current level of international economic flows is much higher than that seen after the Second World War. Several factors related to the reduction of international trade costs contribute to explain this remarkable evolution. First, the reduction in transport costs was significant. Second, the liberalization trend, in the context of GATT and, since the 1990s, the World Trade Organization also contribute decisively to increase international trade flows. This is true even despite the fact that less transparent forms of trade policy have gained prominence. A critical dimension of this liberalization process is the tremendous growth registered in the number of regional trade blocs at the world level. In short terms, the world is more globalized.