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"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...
Persistent link: https://www.econbiz.de/10010522397
After decades of rising global economic integration, the world economy is now fragmenting. To measure this phenomenon …
Persistent link: https://www.econbiz.de/10014576667
. Participation of emerging economies in world trade and longer-distance trade between countries contribute to this usage increase …
Persistent link: https://www.econbiz.de/10014250184
countries join the world economy so that globalization increases at the margin, labor standards worsen (improve) at the margin …We ask how globalization affects a government's incentives to set labor standards for its workers. In a stylized … with globalization than it would under autarky, because labor standards are a normal good and the general increase in …
Persistent link: https://www.econbiz.de/10014322750
companies to disentangle the role of technological change, market power, and globalization in driving a fall in the labor share … measured using four firm and twenty firm concentration ratios and globalization is measured as export shares in total revenues … smaller. Finally, the evidence on globalization is mixed: trade shares are at times negatively associated with the labor share …
Persistent link: https://www.econbiz.de/10014468215
Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and...
Persistent link: https://www.econbiz.de/10014372418
China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in … during the post globalization period (2003-2019) increased by 11.5% of the corresponding pre-globalization period (1984 … contrast, following globalization, the average aggregate domestic profitability of US firms remained flat, and firms employed …
Persistent link: https://www.econbiz.de/10014512056
irrelevant, there is no need for trade agreements - free trade is the optimal policy for each country. But under even minimal …
Persistent link: https://www.econbiz.de/10014576561
. Second, there is no necessary relationship between populism and anti-globalization sentiment. Third, economists have … sometimes been on the wrong side of important policy debates involving opponents rightly or wrongly described as populist …
Persistent link: https://www.econbiz.de/10014250166
Which region(s) will come to dominate the world economy? This paper develops the Global Gaidar Model (GGM), a 17-region … productivity growth using each region's long-term record, predict China and India becoming the world's top two economic hegemons …. GGM also predicts an evolving global savings glut, major reductions in world interest rates, substantial increases in tax …
Persistent link: https://www.econbiz.de/10013435118