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Luca d’Agliano Lecture in Development Economics

2 June 2022 @ 10:00 - 12:00


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2 June 2022
10:00 - 12:00
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Outreach Events

Luca d’Agliano Lecture in Development Economics

De-Globalization? Global Value Chains and the Global Economic Turmoil

Robert G. Ory Professor of Economics, Harvard University

Venue: Fondazione Collegio Carlo Alberto, Piazza Arbarello 8 Torino

This year the Luca d’Agliano Lecture is organised within the framework of the Festival Internazionale dell’Economia


10.00 Welcoming Address

Francesco Profumo, President, Fondazione Compagnia di San Paolo

Giorgio Barba Navaretti, Professor of Economics, University of Milan; Scientific Director, Centro Studi Luca d’Agliano; President, Fondazione Collegio Carlo Alberto

10.10 Introduction to the Lecture

Thierry Verdier, Professor of Economics, Paris School of Economics; Chairman, Scientific Advisory Board, Centro Studi Luca d’Agliano

10.20 Lecture

Pol Antràs, Robert G. Ory Professor of Economics, Harvard University

11.05 Debate

In this lecture, I will evaluate the extent to which the world economy has entered a phase of de-globalisation, and I will offer some speculative thoughts on the future of global value chains. Although the growth of international trade flows relative to that of GDP has slowed down since the Great Recession, I have found little systematic evidence indicating that the world economy has already entered an era of de-globalisation. Instead, the observed slowdown in globalization is a natural sequel to the unsustainable increase in globalization experienced in the late 1980s, 1990s and early 2000s. I will offer a description of the mechanisms leading to that earlier expansionary phase, together with a discussion of why these forces might have run out of steam, and of the extent to which they may be reversible. I will conclude that the main challenge for the future of globalisation is institutional and political in nature rather than technological, although new technologies might aggravate the trends in inequality that have created the current political backlash against globalisation. Zooming in on current events, I will similarly conclude that the future of globalisation may be darker if geopolitical tensions continue to rise, especially in light of the recent Russian invasion of Ukraine.

For furher infomation please contact: centro.dagliano@unimi.it

See also https://dagliano.unimi.it/luca-dagliano-lecture-in-development-economics-de-globalization-global-value-chains-and-the-global-economic-turmoil-by-pol-antras-harvard-university-2nd-june-2022/

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