We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

This paper analyses the contribution of capital income to income inequality in a cross-national comparison. Using micro-data from the Cross-National Equivalent File (CNEF) for three prominent panel studies, namely the BHPS for Great Britain, the SOEP for West Germany, and the PSID for the USA, a...

At least since 1750 when Baron de Montesquieu declared "peace is the natural effect of trade," a number of economists and political scientists espoused the notion that trade among nations leads to peace. Employing resources wisely to produce one commodity rather than employing them inefficiently...

Angesichts der gegenwärtigen Finanzmarkt- und Wirtschaftskrise überbieten sich die Anbieter von Prognosen derzeit in immer neuen Schreckenszenarien und pessimistischen Konjunkturvorhersagen. Prognosen beeinflussen Verhalten und Stimmungen und sind deshalb in Krisenzeiten von besonderer...

The key dynamics of the transatlantic banking crisis are analyzed – with emphasis on the fact that the banking disaster of 2007/08 was not really a surprise –, and the five key requirements for restoring stability and efficiency in the EU/OECD banking sector are highlighted. Most important,...

Die Erwerbsgesellschaft der Zukunft bietet neben neuen Risiken und neuer Unübersichtlichkeit vor allem vielfältige neue Chancen. Um sie bestmöglich zu nutzen, brauchen Gesellschaft, Wirtschaft und Politik ein neues Denken und Handeln, das die Familienfreundlichkeit der Arbeitswelt viel...

In most destination countries, immigration policies are increasingly tilted toward the most skilled individuals. Whether this shift hurts economic prospects in sending countries, as argued by the traditional brain drain literature, is somewhat controversial. The most recent literature has...

This paper assesses the empirical relationship between the liberalization of international trade and the economic status of women. Although historically globalization is not generally linked to the advancement of women, several recent country studies find export led growth in middle and low...

In this paper an ex-post measurable definition of globalization has been used, namely increasing trade openness and FDI. A general result is that the optimistic Heckscher- Ohlin/Stolper-Samuelson predictions do not apply, that is neither employment creation nor the decrease in within-country...

Highly-skilled migrants are becoming a more important part of the world economy and of policy debates in a diverse set of countries. The proliferation of skills around the world, increases in world trade, the growth of R&D, and the general increase in the labor market demand for diverse sets of...