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for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10012471593
We consider the operation of international capital markets in two periods of globalization, before 1914 and after 1971 … international monetary framework was responsible for the relatively short-lived and mild nature of pre-World War I financial crises …
Persistent link: https://www.econbiz.de/10012469999
What drives globalization today and in the past? We employ a new micro-founded measure of bilateral trade costs based …
Persistent link: https://www.econbiz.de/10012466059
The rules governing trade and capital flows have been at the center of controversy as globalization has proceeded. One …, IMF, and World Bank meetings demanding global labor standards. Comparing the claims made in this debate with the outcomes … market. Changes in trade policy have had modest impacts on labour market. Other aspects of globalization -- immigration …
Persistent link: https://www.econbiz.de/10012468655
This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when...
Persistent link: https://www.econbiz.de/10012460992
, Europe, and Oceania for the period from 1870 to 2000 and demonstrate an overriding role for declining trade costs in the pre-World … War I trade boom. In contrast, for the post-World War II trade boom we identify changes in output as the dominant force …
Persistent link: https://www.econbiz.de/10012463384
This paper directs attention at the globalization of knowledge and knowledge creation as the fundamental global driver … of economic outcomes in today's information economy. It documents the globalization of knowledge and spread of scientific … the key component in productivity and growth, its spread and creation is the one ring of globalization that rules the more …
Persistent link: https://www.econbiz.de/10012459360
Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...
Persistent link: https://www.econbiz.de/10012464545
, with the spread of globalization, there is a new periphery, Asia, but the same old core, the United States, with the same … interest. This image of the current system as Bretton Woods reborn also overlooks how the world has changed since the 1960s … resembling the Bretton Woods System, it is not long for this world …
Persistent link: https://www.econbiz.de/10012468196
In this paper we reconsider the international market integration, starting at high levels in the late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey suggests that in some...
Persistent link: https://www.econbiz.de/10012472076