Globalization: Theoretical perspectives, impacts and institutional response of the economy

Abstract

Globalization has major impacts on contemporary economy. The paper sketches main directions of analysis of this complex phenomenon. It is suggested in the paper that, in spite of its powerful unification influence, the unified institutional framework of economy may not be the result of globalization. Therefore, it seems that more moderate and less deterministic comprehensions of globalization are more helpful for understanding of both essence and effects of globalization.