Key Economic Concepts and European Integration
Economic Globalization
Economic globalization is the process by which international economic relations become more intense and decision-making power is concentrated in a small number of agencies or businesses. Globalization results from trade liberalization, market deregulation, and increased capital mobility, which enhance international specialization. Multinational enterprises are the main beneficiaries of this process. The global economy is structured around a few localized decision-making centers in the U.S., the EU, and Japan, where the headquarters of large companies are located.
European Regional Development Fund (ERDF)
The European Regional Development Fund (ERDF) was founded in March 1975 to reduce regional disparities between the Member...