ABSTRACT
In the 1980s, a new catchword entered the jargon of international business and state policy-making: globalisation. Globalisation refers to a number of changes in the world economy, such as the increased international mobility of capital and the growing incidence of mergers and acquisitions and of strategic alliances. The word indicates a growing multipolarity within the world economy, with the East Asian economies, led by Japan, competing vigorously and gaining market share in a range of mid and high value-added industries. The literature on globalisation emphasises the rise of new technologies and examines the challenges that firms are facing to integrate these technologies into their daily activities. Others have focused on the implications that public authorities must draw from globalisation, for instance in the areas of competition or science and technology policy.
