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Assessing Market (Dis)Integration in Early Modern China and Europe

Bernhofen, Daniel M. - 2015

This paper challenges established claims of comparable degrees of market integration in Europe and China on the eve of industrialization. Our empirical strategy focuses on the dynamics of price convergence and accounts for general equilibrium effects arising from common shocks and network...

Persistent link: https://www.econbiz.de/10013011330

Does Marketing Widen Borders? Cross-Country Price Dispersion in the European Car Market

Dvir, Eyal - 2017

We study cross-country price differences in the European market for new passenger cars based on detailed pricing and technical data. Car prices in Europe converged until the year 2003, but not thereafter. Within the EU 15 countries the price range of the median model in 2004 was close to 20...

Persistent link: https://www.econbiz.de/10012947447

Finders, Keepers?

Jaakkola, Niko - 2017

Natural-resource taxation and investment exhibit cycles in a vast number of countries, driving political turmoil and power shifts. Using a rational-expectations model, we show cycles result from governments' inability to commit to future taxes and firms' inability to credibly exit a country...

Persistent link: https://www.econbiz.de/10012955744

Socio-Political Conflict and Economic Performance in Bolivia

Evia, Jose Luis; Laserna, Roberto; Skaperdas, Stergios - 2021

We examine how socio-political conflict in Bolivia has affected its economic performance since the 1970s. Such conflict … characteristics of conflict in Bolivia using a unique data set. We then provide estimates of the direct costs of conflict and examine … how levels of conflict, economic performance, and governance might be related in Bolivia's recent history …

Persistent link: https://www.econbiz.de/10013316564

Journey into the Unknown? Economic Consequences of Factor Market Integration Under Increasing Returns to Scale

Schäfer, Andreas - 2011

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

Persistent link: https://www.econbiz.de/10013117359

Sources of Real Exchange Rate Volatility and International Financial Integration : A Dynamic GMM Panel Approach

Caporale, Guglielmo Maria - 2011

The aim of this paper is to provide some new empirical evidence on the determinants of volatility of real exchange rates in emerging countries, focusing on the role of international financial integration in particular. A reduced-form model is estimated using the GMM method for dynamic panels...

Persistent link: https://www.econbiz.de/10013117985

Powering Up Developing Countries Through Integration?

Auriol, Emmanuelle - 2012

Power market integration is analyzed in a two countries model with nationally regulated firms and costly public funds. If generation costs between the two countries are too similar negative business-stealing outweighs efficiency gains so that following integration welfare decreases in both...

Persistent link: https://www.econbiz.de/10013104162

Equity Risk Premium and Regional Integration

Arouri, Mohamed El Hedi - 2013

This article contributes to the literature on stock market integration by developing and estimating a capital asset pricing model with segmentation effects in order to assess stock market segmentation and its effects on risk premia at the regional level. We show that the estimated degrees of...

Persistent link: https://www.econbiz.de/10013084013

Financial Integration, Globalization, and Real Activity

De Nicolo, Gianni - 2013

Using data for a large number of advanced and emerging market economies during 1982-2009, this paper examines the distinct impact of financial integration and globalization on several dimensions of real activity. We find that: financial integration has progressed significantly worldwide,...

Persistent link: https://www.econbiz.de/10013091562

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries : Some Panel Evidence

Caporale, Guglielmo Maria - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10013155428