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This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a...
Persistent link: https://www.econbiz.de/10012956372
Can history shed light on the modern debate about immigration%u2019s labor market impact in high wage economies? This paper examines the relationship between migration and capital flows in the age of mass migration before 1914, the so-called first global century. It then assesses the effects of...
Persistent link: https://www.econbiz.de/10012779612
dramatic revisions to price levels and real incomes across the world. The paper tries to understand these changes. Domestic … higher prices. The drift is concentrated in the Asia regional groupings used for ICP implementation. The results are not …
Persistent link: https://www.econbiz.de/10013050153
for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10013214589
of both advanced and emerging countries during two periods of globalization -- the pre-World War I classical gold … the two eras of globalization reflects factors such as strong cross-country interdependence fostered through links to gold …
Persistent link: https://www.econbiz.de/10013246049
There is a widespread belief that the COVID-19 pandemic has increased global income inequality, reducing per capita incomes by more in poor countries than in rich. This supposition is reasonable but false. Rich countries have experienced more deaths per head than have poor countries; their...
Persistent link: https://www.econbiz.de/10013247006
world better prepared in 2020 than it was in 1918? After a century of public health and basic science research, pandemic …
Persistent link: https://www.econbiz.de/10012834466
We take stock of and compare tax revenue trends in Asia and Latin America. The tax revenues to GDP ratios increased …
Persistent link: https://www.econbiz.de/10013011112
Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not play a significant role in facilitating Malaysia's...
Persistent link: https://www.econbiz.de/10013235866
Despite an enormous literature that has analyzed the comparative experiences of Latin America and Asia in post-World … highest tariff barriers on earth before 1914; Asia had the lowest. Protected Latin America's belle ‚poque also boasted some of … the most explosive growth performance on earth, while Asia registered some of the worst. What brought the two regions to …
Persistent link: https://www.econbiz.de/10013213056