View More View Less
  • 1 Economist at the Vienna Institute for International Economic Studies, Austria
Restricted access

Purchase article

USD  $25.00

1 year subscription (Individual Only)

USD  $700.00

It is argued that increased freedom to run economic activities combined with the growing impotence of national governments (i.e., globalization) have contributed to the secular growth slowdown at the global level. Fast globalisation-driven growth of international trade has unleashed the global race for economic surpluses. The process involves the suppression of wages and widening income inequalities – restricting aggregate demand globally. A “beggar-thy-neighbor” tactics of keeping large trade surpluses by countries successfully suppressing wages and domestic demand is likely to be unproductive. Overcoming the secular stagnation may not be possible without safeguarding equilibrium (or balance) in international transactions between major industrial countries – even if this may necessitate that in most (or all) of them the public sectors run large fiscal deficits permanently.

  • Bhagwati, J. (1958): Immiserizing Growth. A Geometrical Note. Review of Economic Studies, (25)3: 201205.

  • Blanchard, O.Giavazzi, F. (2002): Current Account Deficits in the Euro Area and the End of Feldstein-Harioka Puzzle. Brookings Papers on Economic Activity, 2: 148186.

    • Search Google Scholar
    • Export Citation
  • Blanchard, O.Milesi-Ferretti, G. M. (2009): Global Imbalances: In Midstream. IMF: http://www.imf.org/external/pubs/ft/spn/2009/spn0929.pdf

    • Search Google Scholar
    • Export Citation
  • Denison, E. (1985): Trends in American Economic Growth, 1829–82. Brookings Institution, Washington DC.

  • Frankel, J. A. (2008): The World Trading System and Implications of External Opening. In: Serra, N.Stiglitz, J. E. (eds): The Washington Consensus Reconsidered: Towards a New Global Governance. Oxford University Press.

    • Search Google Scholar
    • Export Citation
  • Giavazzi, F.Spaventa, L. (2010): Why the Current Account Matters in a Monetary Union: Lessons from the Financial Crisis in the Euro Area. CEPR Discussion Paper Series, No. 8008.

    • Search Google Scholar
    • Export Citation
  • Hillebrand, E. E.Lewer, J. L. – Turtora Zagardo, J. (2010): Backtracking from Globalization. Global Economy Journal, 10(4): 117.

    • Search Google Scholar
    • Export Citation
  • ILO (2015): Wages and Inequality. Global Wage Report 2014/2015. Geneva.

  • Jorgenson, D. (2005): Accounting for Growth in the Information Age. In: Aghion, P.Durlauf, S. (eds): Handbook of Economic Growth. Amsterdam: North Holland, 1A, pp. 743815.

    • Search Google Scholar
    • Export Citation
  • Kornai, J. (1971): Anti-Equilibrium. On Economic Systems Theory and the Tasks of Research. Amsterdam: North-Holland.

  • Kornai, J. (2016): The System Paradigm Revisited – Clarifications and Additions in the Light of Experiences in the Post-Socialist Region. Acta Oeconomica, 66(4): 547596.

    • Search Google Scholar
    • Export Citation
  • Laski, K.Podkaminer, L. (2012): The Basic Paradigms of EU Economic Policy-Making Need to be Changed. Cambridge Journal of Economics, 36(1): 253271.

    • Search Google Scholar
    • Export Citation
  • Laski, K.Podkaminer, L. (2013): Net Private Savings in Relation to the Government’s Financial Balance: Some Basic Principles of Macroeconomics Disregarded by the European Union’s Economic Policy Making. In: Dejuan, O.Febrero, E.Uxo, J. (eds): Post-Keynesian Views of the Crisis and Its Remedies. London: Routledge, pp. 227235.

    • Search Google Scholar
    • Export Citation
  • Mollick, A. V.Faria, J. R.Albuquerque, P. H.Leon-Ledesma, M. A. (2008): Can Globalisation Stop the Decline in Commodities’ Terms of Trade? Cambridge Journal of Economics, 32(3): 683701.

    • Search Google Scholar
    • Export Citation
  • Obstfeld, M.Rogoff, K. (1996): Foundations of International Macroeconomics. MIT Press.

  • Palley, T. I. (2009): A Labor Perspective on Globalization. IPG/FES, 2: 2239, library.fes.de/pdf-files/ipg/ipg-2009-2/2-09_a_palley_us.pdf.

    • Search Google Scholar
    • Export Citation
  • Podkaminer, L. (2014): Does Trade Drive Global Output Growth? Bank & Credit, 45(4): 311330.

  • Podkaminer, L. (2015): The Euro Area’s Secular Stagnation and What can be Done about It. A Post - Keynesian Perspective. Real World Economics Review, 70:116.

    • Search Google Scholar
    • Export Citation
  • Podkaminer, L. (2016): Has Trade Been Driving Global Economic Growth? Working Paper, No. 131, Vienna Institute for International Economic Studies: https://www.google.at/?gws_ rd=ssl#q=wiiw+working+paper+131

    • Search Google Scholar
    • Export Citation
  • Podkaminer, L. (2016a): Economic Disintegration of the European Union: Not Unavoidable, but Probable. Acta Oeconomica, 66 (S1): 4960.

    • Search Google Scholar
    • Export Citation
  • Podkaminer, L. (2017): Labor Productivity Growth Slowdown: An Effect of Economic Stagnation Rather than its Cause? Acta Oeconomica, 67(S1): 6777.

    • Search Google Scholar
    • Export Citation
  • Podkaminer, L. (2017a): Trade Imbalances are Undesirable: A Note. Real World Economics Review, 80: 193196.

  • Rodrik, D.Subramanian, A.Trebbi, F. (2004): Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development. Journal of Economic Growth, 9(2): 131165.

    • Search Google Scholar
    • Export Citation
  • Samuelson, P. A. (2004): Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization. Journal of Economic Perspectives, 18: 135148.

    • Search Google Scholar
    • Export Citation
  • Stiglitz, J. (2001): Globalization and Its Discontents. N.Y.: W.W. Norton.

  • Thirlwall, A. P.Pacheco-Lopez, P. A. (2008): Trade Liberalisation and the Poverty of Nations. Cheltenham: Edward Elgar.

Submit Your Manuscript
 
The author instruction is available in PDF.
Please, download the file from HERE.

 

The description of the refereeing procedure is available in PDF.
Please, download the file from HERE.

 

 

Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • Gábor Kézdi / University of Michigan
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

Advisory Board

  • Ǻslund, Anders
  • Kolodko, Grzegorz
  • Mau, Vladimir
  • Messerlin, Patrick A
  • Nuti, Mario Domenico
  • Wagener, Hans-Jürgen

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary

Indexing and Abstracting Services:

  • EconLit
  • Elsevier GEO Abstracts
  • GEOBASE
  • International Bibliographies IBZ and IBR
  • JEL
  • Referativnyi Zhurnal
  • RePEc
  • SCOPUS
  • Social Science Citation Index
  • Index Copernicus

 

2020  
Total Cites 275
WoS
Journal
Impact Factor
0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
Journal Self Cites
5 Year 0,500
Impact Factor
Journal  0,38
Citation Indicator  
Rank by Journal  Economics 347/549 (Q3)
Citation Indicator   
Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
Scimago 0,292
Journal Rank
Scimago Economics and Econometrics Q3
Quartile Score  
Scopus 225/166=1,4
Scite Score  
Scopus Economics and Econometrics 392/661 (Q3)
Scite Score Rank  
Scopus 0,668
SNIP  
Days from  289
sumbission  
to acceptance  
Days from  447
acceptance  
to publication  

2019  
Total Cites
WoS
212
Impact Factor 0,914
Impact Factor
without
Journal Self Cites
0,728
5 Year
Impact Factor
0,650
Immediacy
Index
0,156
Citable
Items
45
Total
Articles
45
Total
Reviews
0
Cited
Half-Life
3,9
Citing
Half-Life
9,5
Eigenfactor
Score
0,00015
Article Influence
Score
0,052
% Articles
in
Citable Items
100,00
Normalized
Eigenfactor
0,01891
Average
IF
Percentile
28,437
Scimago
H-index
12
Scimago
Journal Rank
0,439
Scopus
Scite Score
214/165=1,3
Scopus
Scite Score Rank
Economics and Econometrics 355/637 (Q3)
Scopus
SNIP
0,989

 

Acta Oeconomica
Publication Model Hybrid
Submission Fee none
Article Processing Charge 900 EUR/article
Printed Color Illustrations 40 EUR (or 10 000 HUF) + VAT / piece
Regional discounts on country of the funding agency World Bank Lower-middle-income economies: 50%
World Bank Low-income economies: 100%
Further Discounts Editorial Board / Advisory Board members: 50%
Corresponding authors, affiliated to an EISZ member institution subscribing to the journal package of Akadémiai Kiadó: 100%
Subscription Information Online subsscription: 588 EUR / 732 USD
Print + online subscription: 688 EUR / 860 USD
Online subscribers are entitled access to all back issues published by Akadémiai Kiadó for each title for the duration of the subscription, as well as Online First content for the subscribed content.
Purchase per Title Individual articles are sold on the displayed price.

Acta Oeconomica
Language English
Size B5
Year of
Foundation
1966
Publication
Programme
2021 Volume 71
Volumes
per Year
1
Issues
per Year
4
Founder Magyar Tudományos Akadémia
Founder's
Address
H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher Akadémiai Kiadó
Publisher's
Address
H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher
Chief Executive Officer, Akadémiai Kiadó
ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)