Showing 1 - 10 of 96
The activities of multinational enterprises drive the economic globalization process to a very large degree. This paper lists some facts about their dominant role in all channels of globalization. Therefore, the importance of multinational enterprises in foreign direct investment and production...
Persistent link: https://www.econbiz.de/10005076120
Although an extensive amount of literature reviews emerging patterns of east-west co-operation, it is not easy to grasp the state of the art. Too many of the books, articles and papers tend to mark the trees rather than to map the forest. The paper analyses recent trends from the point of view...
Persistent link: https://www.econbiz.de/10009276078
This paper investigates Samuelson's (JEP, 2004) argument that technical progress of the trade partner may hurt the home country. We illustrate this prospect in a simple Ricardian model for sitations with outward knowledge spillovers. Within this framework Samuelson's "Act II" effects may occur....
Persistent link: https://www.econbiz.de/10005566209
In the original framework of Professors Acemoglu and Robinson, the government is unable to oppress the revolution once it is brought about. However, actual civil wars are unpredictable. With this notion, I introduce uncertainty depending on military expenditures of the government. Then an...
Persistent link: https://www.econbiz.de/10008615596
Use of a promise to pay by a bank to insure an outstanding loan in order to return the value of the insured amount into capital for use in writing a new loan is an invention in banking with calculably greater potential economic impact than the original invention of reserve banking. The...
Persistent link: https://www.econbiz.de/10009004773
This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is...
Persistent link: https://www.econbiz.de/10005076106
A small expectations-expanded "Mundell-Fleming" model is built for the European Union Accession Countries and estimated to assess the optimality of different exchange rate regimes (a peg and a float) through a simple welfare function. Floating appears as the best option for most of the countries...
Persistent link: https://www.econbiz.de/10005076124
The paper shows that an IMF-like coinsurance arrangement among countries can play a useful role in the global financial system. The operation of the coinsurance arrangement is examined under different loan contracts. It shows that, if the IMF´s objective is to safeguard its resources and be...
Persistent link: https://www.econbiz.de/10005083334
This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...
Persistent link: https://www.econbiz.de/10005083391
The rapid diffusion of the internet and electronic commerce changes the way business and international trade take place. The new economy poses new challenges to the international regulatory framework, since small distortions due to differing sets of regulations and taxation between countries...
Persistent link: https://www.econbiz.de/10005818796