Showing 1 - 10 of 13
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications …
Persistent link: https://www.econbiz.de/10003831857
context of globalization a term typically used to describe the phenomenon of growing international trade and financial … interaction of financial integration with volatility. -- globalization ; international trade and financial linkages …
Persistent link: https://www.econbiz.de/10003464194
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … better risk sharing outcomes during the recent period of globalization. Developing countries have, by and large, been shut … flows may help explain why emerging markets have not been able to realize this presumed benefit of financial globalization …
Persistent link: https://www.econbiz.de/10003586563
Neoclassical trade theory suggests that factor price convergence should follow increased commercial integration. Rising commercial integration and foreign direct investment followed the 1994 North American Free Trade Agreement between the United States and Mexico. This paper evaluates the degree...
Persistent link: https://www.econbiz.de/10010369823
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these …
Persistent link: https://www.econbiz.de/10003816538
Persistent link: https://www.econbiz.de/10001745312
, of apparel employment in developing countries. This paper focuses on how the forces of globalization, specifically the … traditional trade theory (e.g., the Heckscher-Ohlin and Stolper-Samuelson theorems) to analyze the effect of globalization on … effects of globalization that differentiates males and females as separate factors. This may be a fruitful alternative to …
Persistent link: https://www.econbiz.de/10012246516
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global gross domestic product contracted, and this contraction was accompanied by weakening of other key indicators of global...
Persistent link: https://www.econbiz.de/10012230745
The paper studies the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. The authors' methodology allows them to account for differences across groups of countries (advanced economies and emerging market and developing...
Persistent link: https://www.econbiz.de/10012008116
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012178610