文献翻译 原文 ECONOMIC GLOBALIZATION FROM A BROADER, LONG-TERM PERSPECTIVE: SOME QUESTIONS AND CONCERNS BY . WITTEVEEN Key words: globalization, capital flows, IMF, spiritual values 1 INTRODUCTION Economic globalization which is increasingly characteristic of the global situation is the final stage of a growth process wich has taken two centuries. During the 19th century, the world economy gradually became more integrated through international trade and capital movements. The May 1997 World Economic Outlook published by the IMF gives a clear and detailed description of this the mid-19th century until 1914, world trade expanded more rapidly thanreal output: % against %. This was a consequence of a reduction in effective import duties, which, on average, came down from 15% to 5%, and of greatly reduced transport costs ~IMF ~1997!,!.
The First World War and the subsequent depression of the 1930s meant a serious set-back to this integration process. It was only after the Second World War that the creation of GATT and the essive tariff anized by this institution set the integration process moving again, and it was only by 1970 that the share of exports in world output again reached the peak of 1913. Capital movements were also very important in the fifty years before the First World War. Capital flows for some selective countries were even larger as a p
