Published Paper Details:

Deglobalization is being accelerated through a combination of protectionism, countries having 'friend shoring' which means limiting trade to countries with shared values, invasion of enemy countries (Ukraine-Russia war) which leads to geo-strategically motivated bans and sanctions. This research paper focuses on two-dimensions where deglobalization can highly impact. The first dimension is threat to climate and the second dimension is fulfilled by testing Romer's hypothesis which states that inflation is lower in open economies. The aim of the second dimension is to check causal relationship between trade openness and inflation, taking Wholesale Price Index as the variable. The researchers also checked any long run or short run relationship between the two variables. Methodological tools include test stationarity of the data, Granger Causality Test Johansen Cointegration Test taking secondary empirical data of past 10 years. The inferences drawn are not supporting the idea of a closed economy or a global economy with isolated regional trading blocs.