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As communication costs fall, foreign embassies and consulates have lost much of their role in decision-making and information-gathering. Accordingly, foreign services are increasingly marketing themselves as agents of export promotion. I investigate whether exports are in fact systematically...
Persistent link: https://www.econbiz.de/10012467574
We estimate the impact of coups and top-secret coup authorizations on asset prices of partially nationalized multinational companies that stood to benefit from US-backed coups. Stock returns of highly exposed firms reacted to coup authorizations classified as top-secret. The average cumulative...
Persistent link: https://www.econbiz.de/10012461705
"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
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on …
Persistent link: https://www.econbiz.de/10012008492
Persistent link: https://www.econbiz.de/10001791053
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
In this paper we focus on the different historical regime experiences of the core and the periphery. Before 1914 advanced countries adhered to gold while periphery countries either emulated the advanced countries or floated. Some peripheral countries were especially vulnerable to financial...
Persistent link: https://www.econbiz.de/10012470132
We argue that trade in intermediate inputs, or 'global production sharing,' is a potentially important explanation for the increase in the wage gap between skilled and unskilled workers in the U.S. and elsewhere. Using a simple model of heterogeneous activities within an industry, we show that...
Persistent link: https://www.econbiz.de/10012470348
the (less rich) Old World more equal. The evidence on the links between within-country inequality and globalization in the … the links between them. In doing so, it distinguishes between (a) the different dimensions of globalization; and (b …) between-country and within-country inequality. Theory suggests that globalization will have very different implications for …
Persistent link: https://www.econbiz.de/10012470385