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Borders and Growth
Spolaore, Enrico - 2002
This paper presents a framework to understand and measure the effects of political borders on economic growth and per capita income levels. We present a model providing a theoretical foundation to estimate empirically the effects of political borders on growth. In our model, political...
Persistent link: https://www.econbiz.de/10012469486
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Economic Integration and Political Disintegration
Alesina, Alberto - 1997
Trade liberalization and political separatism go hand in hand. In a world of trade restrictions, large countries enjoy economic benefits because political boundaries determine the size of the market. In a world of free trade and global markets even relatively small cultural, linguistic or ethnic...
Persistent link: https://www.econbiz.de/10012472651
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Regionalism versus multilateral trade arrangements
Itō, Takatoshi (ed.); Krueger, Anne O. (contributor) - 1997
Persistent link: https://www.econbiz.de/10013420816
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Financial Integration, Entrepreneurial Risk and Global Imbalances
Angeletos, George-Marios - 2011
How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? We investigate this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk-- a risk that...
Persistent link: https://www.econbiz.de/10012461896
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Globalization and Monetary Control
Woodford, Michael - 2007
It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the … banks. In this paper, I consider three possible mechanisms through which it might be feared that globalization can undermine … globalization, even of a much more thorough sort than has yet occurred, is unlikely to weaken the ability of national central banks …
Persistent link: https://www.econbiz.de/10012465321
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Globalization and Political Structure
Gancia, Gino - 2016
The first wave of globalization (1830-1914) witnessed a decline in the number of countries from 125 to 54. Political … consolidation was often achieved through war and conquest. The second wave of globalization (1950-present) has led instead to an … globalization and political structure that accounts for these trends and their reversal. We show that political structure adapts to …
Persistent link: https://www.econbiz.de/10012456628
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Neoclassical Growth in an Interdependent World
Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - National Bureau of Economic Research - 2023
We generalize the closed-economy neoclassical growth model (CNGM) to allow for costly goods trade and capital flows with imperfect substitutability between countries. We develop a tractable, multi-country, quantitative model that matches key features of the observed data (e.g., gravity equations...
Persistent link: https://www.econbiz.de/10014447272
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Are We Fragmented Yet? Measuring Geopolitical Fragmentation and Its Causal Effect
Fernández-Villaverde, Jesús; Mineyama, Tomohide; … - National Bureau of Economic Research - 2024
After decades of rising global economic integration, the world economy is now fragmenting. To measure this phenomenon, we introduce an index of geopolitical fragmentation derived from various empirical indicators. This index is developed using a flexible dynamic factor model with time-varying...
Persistent link: https://www.econbiz.de/10014576667
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Globalization in historical perspective
Bordo, Michael D. (ed.); Taylor, Alan M. (contributor);  … - 2003
Persistent link: https://www.econbiz.de/10013480751
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Financial Globalization and Emerging Markets : With or Without Crash?
Martin, Philippe - 2002
We analyze the impact of financial globalization on asset prices, investment and the possibility of crashes driven by …
Persistent link: https://www.econbiz.de/10012469420