, tends to support globalization. However, the transition to a multipolar world can trigger fragmentation, which is …How do shifts in the global balance of power shape the world economy? We propose a theory of alignment-based “hegemonic … globalization”, built on two central premises: countries differ in their preferences over policies (such as the rule of law or …

enhances globalization. We use UN voting data to proxy for international alignment and show that hegemons induce alignment …

It is for good reasons that economic policymakers have rejected demands by globalization sceptics to fundamentally …

In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country …