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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

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 …

Persistent link: https://www.econbiz.de/10014576667

Globalization in historical perspective

Bordo, Michael D. (ed.); Taylor, Alan M. (contributor); … - 2003

Persistent link: https://www.econbiz.de/10013480751

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

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

Economic Integration and the Transmission of Democracy

Magistretti, Giacomo; Tabellini, Marco - National Bureau of Economic Research - 2022

In this paper, we study if exposure to the institutions of trade partners changes individuals' attitudes towards democracy and favors the process of democratization. We combine survey data with country-level measures of democracy from 1960 to 2015, and exploit the improvement in air, relative to...

Persistent link: https://www.econbiz.de/10013210083

How Big are the Gains from International Financial Integration?

Hoxha, Indrit - 2009

The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...

Persistent link: https://www.econbiz.de/10012464013

International Financial Integration and Entrepreneurial Firm Activity

Alfaro, Laura - 2007

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. We use a unique firm level data set of approximately 24 million firms in nearly 100 countries in 2004 and 1999, which enables us to present both cross-country and industry...

Persistent link: https://www.econbiz.de/10012465536

The Elusive Gains from International Financial Integration

Gourinchas, Pierre-Olivier - 2003

Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this type of...

Persistent link: https://www.econbiz.de/10012469014

Borders and Growth

Spolaore, Enrico - 2002

negative effect through reduced openness vis-…-vis the rest of the world. We estimate the growth effects that would have …

Persistent link: https://www.econbiz.de/10012469486

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