Vol.3, No 1, 2006 pp. 13 - 20
UDC 005.44.00033
ECONOMIC ASPECTS OF GLOBALIZATION
Biljana Rakić
Faculty of Economics, University of Niš, 18000 Niš, Serbia 

Globalization should not be regarded exclusively as an economic phenomenon, in spite of the economic justification and attractiveness of the term "economy without frontiers" and of the economic benefits it offers. Leaving the political aspect of this problem aside, it may be concluded that globalization is a long-term regular economic tendency, which should not be confronted, as the processes of economic association, internationalism and integration on the world scale are immanent within the modern society.
Alongside with understanding that the process of globalization cannot be stopped or influenced, there is the fear of its effects on small national economies, especially on developing countries and countries in transition. The consequence of the global world order is that developed countries are increasingly developing, while the underdeveloped ones cannot improve their relative positions but stagnate or even get increasingly impoverished.
Globalization should be understood as a multidimensional phenomenon that will induce changes in all the segments of society.
Key Words: Globalization, integration, developing economies, multinational corporations 

EKONOMSKI ASPEKTI GLOBALIZACIJE
Ostavljajući po strani politički aspekt procesa globalizacije, može se zaključiti da je dugoročna ekonomska tendencija saradnje, internacionalizacije i integracije imanentna savremenom društvu. Globalizacija nije samo ekonomski proces, uprkos privlačnosti termina "ekonomija bez granica" i "koristi za sve" koje treba da proizvede. Uprkos shvatanju da ovaj proces ne može biti zaustavljen, prisutan je i strah od efekata na male i nerazvijene ekonomije. Globalizaciju treba shvatiti kao multidimenzionalni fenomen koji će uzrokovati promene u svim segmentima društva.
Ključne reči: globalizacija, integracija, nerazvijene ekonomije, multinacionalne korporacije.