The Opportunities for a Small Economy in Globalization

The text deals with the position of small countries, defined as countries with populations under 16 million, in today's globalized world. Their advantages and disadvantages, but especially the opportunities that globalization offers these countries, are discussed. Small countries can overcome their smallness by market acquisition, acquisition of missing production factors, regionalism and advantages of membership in international organisations and taking advantage of the existence of international financial markets. Governments also play an important role. The article is illustrated with A. T. Kearney Globalization Index for the economic, personnel, technological and political dimensions of globalization processes.