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Although the rest of the world had waited a long time for China to open up, feelings were mixed when it actually did and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization (WTO), many of its trading partners are increasingly...
Persistent link: https://www.econbiz.de/10014403900
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Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and … external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under …
Persistent link: https://www.econbiz.de/10014400331
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All common real effective exchange rate indexes assume trade is only in final goods, despite the growing presence of global supply chains. Extending effective exchange rate indexes to include such intermediate goods can imply radically different effective exchange rate weights, depending on the...
Persistent link: https://www.econbiz.de/10011932479
Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm … explicitly the role of export opportunities. Our results indicate that globalization does not affect firm exit significantly but …
Persistent link: https://www.econbiz.de/10014401739
the relative role of 'globalization' and 'technology' shocks in accounting for the short and long run variance of global …
Persistent link: https://www.econbiz.de/10011711761
The paper provides a general-equilibrium model where incomplete international financial markets lead to insufficient … industrial specialization and low international trade. As international portfolio diversification is limited and productivity is … advantage. Financial globalization then induces more specialization and more trade. The present framework yields explicit closed …
Persistent link: https://www.econbiz.de/10014403975
trade might be called the ""missing globalization puzzle."" This puzzle is most apparent in the estimated distance … evidence of globalization, on both cross-section and panel data, reflected in a variety of measures of geography. Our …
Persistent link: https://www.econbiz.de/10014401460