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The Rise and Decline of General Laws of Capitalism
Acemoglu, Daron - 2014
Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...
Persistent link: https://www.econbiz.de/10013039764
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Vertical Integration, Institutional Determinants and Impact : Evidence from China
Fan, Joseph P. H. - 2013
political rent seeking is substantial, firm value might rise as economy performance decays. China offers a suitable background …
Persistent link: https://www.econbiz.de/10012753256
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Fragmentation and Trade in Value Added Over Four Decades
Johnson, Robert C. - 2012
We combine data on trade, production, and input use to compute the value added content of trade for forty-two countries from 1970 to 2009. For the world, the ratio of value added to gross trade falls by ten to fifteen percentage points, with two-thirds of this decline in the last two decades....
Persistent link: https://www.econbiz.de/10013104723
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Organizing the Global Value Chain
Antras, Pol - 2012
We develop a property-rights model of the firm in which production entails a continuum of uniquely sequenced stages. In each stage, a final-good producer contracts with a distinct supplier for the procurement of a customized stage-specific component. Our model yields a sharp characterization for...
Persistent link: https://www.econbiz.de/10013104981
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Outsourcing and Volatility
Bergin, Paul R. - 2007
While outsourcing of production from the U.S. to Mexico has been hailed in Mexico as a valuable engine of growth, recently there have been misgivings regarding its fickleness and volatility. This paper is among the first in the trade literature to study the second moment properties of...
Persistent link: https://www.econbiz.de/10012776813
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Measures of Participation in Global Value Chains and Global Business Cycles
Wang, Zhi - 2017
This paper makes two methodological contributions. First, it proposes a framework to decompose total production activities at the country, sector, or country-sector level, to different types, depending on whether they are for pure domestic demand, traditional international trade, simple GVC...
Persistent link: https://www.econbiz.de/10012960797
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A Portrait of Trade in Value Added Over Four Decades
Johnson, Robert C. - 2016
We combine data on trade, production, and input use to document changes in the value added content of trade between 1970 and 2009. The ratio of value-added to gross exports fell by roughly 10 percentage points worldwide. The ratio declined 20 percentage points in manufacturing, but rose in...
Persistent link: https://www.econbiz.de/10012976994
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Clusters, Convergence, and Economic Performance
Delgado, Mercedes - 2015
This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters and … available data from the US Cluster Mapping Project to disentangle the impact of convergence at the region-industry level from …, there is strong evidence for cluster-driven agglomeration. Industries participating in a strong cluster register higher …
Persistent link: https://www.econbiz.de/10013036681
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Reshaping Institutions : Evidence on Aid Impacts Using a Pre-Analysis Plan
Casey, Katherine P. - 2011
Although institutions are believed to be key determinants of economic performance, there is limited evidence on how they can be successfully reformed. Evaluating the effects of specific reforms is complicated by the lack of exogenous variation in the presence of institutions; the difficulty of...
Persistent link: https://www.econbiz.de/10013125582
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Institutional Adaptability and Economic Development : The Property Rights Revolution in Britain, 1700 to 1830
Richardson, Gary - 2010
Adaptable property-rights institutions, we argue, foster economic development. The British example illustrates this point. Around 1700, Parliament established a forum where rights to land and resources could be reorganized. This venue enabled landholders and communities to take advantage of...
Persistent link: https://www.econbiz.de/10012759574