, it is possible to identify a variety of channels through which trade affects the evolution of world income and its …

This paper presents a theoretical study of the effects of globalization on risk sharing and welfare. We model … globalization still opens new goods markets, we find that it can also open or close some asset markets. The net effect on risk … globalization as a gradual and exogenous increase in the fraction of goods that are tradable. In the absence of frictions …

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

The Paper analyses (i) if globalization is undemocratic, (ii) if NGOs can fill a gap in representation and … accountability, and (iii) the role of inter-governmental (undemocratic) international institutions like the World Bank with regard to … democracy and globalization. A major part deals with the question of whether globalization enhances democracy. The answer is …

markets, and (3) a sustained decline in the world interest rate. This paper shows that in a multi-period OLG model, the …

How does increasing globalization affect corporate transparency? Freer trade represents two facets and in theory has …-country-year level, and a second measure of globalization-induced product market competition based on a country’s own tariff … globalization promotes corporate transparency, especially in industries that depend heavily on external financing. At the same time …

optimal. An intermediate outcome, a world divided into diverse polities, is the best that we can do. …

The process of globalization is characterized by an impressive growth in global value chains, as well as the … potential NGO emergence allows firms to capture gains from globalization, which would otherwise be unattainable. We show that … trade costs, would be better-off in a world without NGOs. In an extension we show that NGOs may also crowd out investment in …