On the basis of economic theory, what effects can globalisation be expected to have on trade and growth? Does the empirical evidence support this? What developments will the next phase of globalisation bring?

The cost of the financial crisis to the real economy has so far remained underexamined,probably because of the difficulty in making such an assessment. The crisis was precipitatedby an unsustainable bubble that artificially inflated economic fi ures, so what should be used as a benchmark for...