The impact of Globalization on the Albanian economy

The past decades have witnessed a rapid globalization of the economic activity which has significantly changed the outlook of the world economy. An increasing number of firms countries and other economic actors take part in today’s global economy and all of them have become increasingly connected across borders. Globalization results in a more efficient allocation of resources across countries and generates important welfare effects including higher productivity and efficiency increased average incomes and wages greater competition lower prices and increased product variety and quality. At the same time the process of globalization also raises concerns in many countries and needs to be well managed to ensure its benefits are widely distributed.