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Economic Nationalism: Constrained and Fragmented, If Any?

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Economic Growth in the European Union

Part of the book series: Contributions to Economics ((CE))

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Abstract

In this contribution, the meaning of economic nationalism and the possibilities of pursuing nationalist policies in the context of increasingly interdependent economic processes are discussed. Economic nationalism need not solely be affiliated with statist protectionism, while very few states dispose of the necessary economic, social, political and institutional conditions to influence economic policy given the long-term tendencies that undermine nationalist wills (empowerment of supranational bodies, internationalization of production, deindustrialization). Even these states are not monolithic and the pattern of business/government relations in different fields would have a critical influence. Nationalist-type policies would probably be fragmented, followed in some specific domains under powerful constraints.

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Notes

  1. 1.

    Debates concerning economic policy and the conditions of building the national State in the United States focus also on free trade versus restriction of imports, and isolationism (peaceful nationalism) versus expansionism. More recently, quite successful protectionist East Asian policies during post World War-II period (including the discouragement of foreign direct investment) lend support to the idea that economic nationalism involves necessarily protectionism.

  2. 2.

    From 2017 there is no more ministry or state secretariat dedicated to the industry in this country.

  3. 3.

    In 2018, the large-scale repatriations of accumulated foreign earnings by United States MNEs, resulted in negative FDI outflows (UNCTAD 2019).

  4. 4.

    For a stimulating analysis of this interactive process in Russia, see Yakovlev (2006).

  5. 5.

    In October 2005, Natural Resources Minister Trutnev stated that Russia should limit foreign participation in three main areas: scarce natural resources, large mineral deposits and fields close to military sites (reported in Liuhto 2008, p. 3).

  6. 6.

    By 1939, almost half of world trade was restricted by tariffs (Jones 2005).

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Correspondence to Yorgos Rizopoulos .

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Rizopoulos, Y. (2020). Economic Nationalism: Constrained and Fragmented, If Any?. In: Nikas, C. (eds) Economic Growth in the European Union. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-48210-7_2

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