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Trade and Search : Social Capital, Sogo Shosha, and Spillovers
Rauch, James E. - 1996
A network/search view of international trade in differentiated products is proposed. It is shown that this view can explain the importance of ethnic and extended family ties in trade, the success of diversified trading intermediaries such as Japan's sogo shosha, and the ubiquity of government...
Persistent link: https://www.econbiz.de/10012473227
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Networks versus Markets in International Trade
Rauch, James E. - 1996
I propose a network/search view of international trade in differentiated products. I present evidence that supports the view that proximity and common language/colonial ties are more important for differentiated products than for products traded on organized exchanges in matching international...
Persistent link: https://www.econbiz.de/10012473228
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Regional Patterns in the Law of One Price : The Roles of Geography vs. Currencies
Engel, Charles - 1995
We find evidence that the law of one price (LOOP) holds more nearly for country pairs that are within geographic regions than for country pairs that are not. These findings are established using disaggregated consumer price data from 23 countries (including data from eight North American...
Persistent link: https://www.econbiz.de/10012473472
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The New Regionalism : Trade Liberalization or Insurance?
Perroni, Carlo - 1994
Several of the recently negotiated regional trade agreements (Canada-U.S., NAFTA, E.C.-Hungary/Poland/Czeck and Slovak Republics) contain significantly fewer concessions by the large countries to smaller countries than vice versa. Yet, it is small countries that have sought them and see...
Persistent link: https://www.econbiz.de/10012474308
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Preferential Trade Agreements
Limão, Nuno - 2016
A large and growing number of countries participate in multiple preferential trade agreements (PTAs), which increasingly entail broad cooperation over policies extending far beyond trade barriers. I review the traditional and non-traditional motives for PTAs and their empirical determinants as...
Persistent link: https://www.econbiz.de/10012456537
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The regionalization of the world economy
Frankel, Jeffrey A. (ed.) - 1998
Persistent link: https://www.econbiz.de/10013480891
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Globalization of Equity Markets and the Cost of Capital
Stulz, Rene M. - 1999
prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital … decreases because of globalization for two important reasons. First, the expected return that investors require to invest in …
Persistent link: https://www.econbiz.de/10012471779
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The Global Velocity Curve 1952-1982
Bordo, Michael D. - 1986
cross country comparison in the post World War II period of 84 countries arrayed from very low to very high per capita …
Persistent link: https://www.econbiz.de/10012476996
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A No-Arbitrage Perspective on Global Arbitrage Opportunities
Augustin, Patrick - 2020
We revisit the recent literature on persistent deviations from covered interest parity (CIP) by showing theoretically that CIP violations imply arbitrage opportunities only if uncollateralized interbank lending rates are riskless. In the absence of observable riskless discount rates, we extract...
Persistent link: https://www.econbiz.de/10012481814
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Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela L. - 2008
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10012464398