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OPENNESS -- IV. PATTERNS OF FINANCIAL GLOBALIZATION -- V. MACROECONOMIC EVIDENCE ON EFFECTS OF FINANCIAL GLOBALIZATION -- VI … GLOBALIZATION -- IX. THRESHOLD EFFECTS IN OUTCOMES OF FINANCIAL GLOBALIZATION -- X. CONCLUDING REMARKS -- APPENDIXES -- References. …
Persistent link: https://www.econbiz.de/10012690991
We examine the relationship between trade and financial globalization and the rise in inequality in most countries in … recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited … overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction …
Persistent link: https://www.econbiz.de/10014409050
explicitly the role of export opportunities. Our results indicate that globalization does not affect firm exit significantly but …
Persistent link: https://www.econbiz.de/10012677370
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...
Persistent link: https://www.econbiz.de/10012677570
How will the world-wide decline in real interest rates associated with global aging affect small open economies (SOEs) with aging populations? Lower interest rates will result in higher capital-labor ratios and increased wages; higher wages, in turn, will be passed on to pension benefits,...
Persistent link: https://www.econbiz.de/10012677583
This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countries' risk-adjusted growth opportunities, and identifies some of the channels through...
Persistent link: https://www.econbiz.de/10012677595
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with … countries that have adapted to financial globalization, drawing lessons for India. While we find no strong relationship b …
Persistent link: https://www.econbiz.de/10012677602
During 2001-07, increases in mature market volatility were associated with declines in forex returns for East Asian countries, consistent with an overall ""flight to safety"" effect. Estimates from GARCH models suggest that a 5 percentage point increase in mature market equity volatility...
Persistent link: https://www.econbiz.de/10012677655
This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation results based on a dynamic general equilibrium model of...
Persistent link: https://www.econbiz.de/10012677719
Though theory suggests financial globalization should improve international risk sharing, empirical support has been …. We then take it to data and find international risk sharing has, indeed, improved during globalization. Improved risk …
Persistent link: https://www.econbiz.de/10012677878