The activities of multinational enterprises drive the economic globalization process to a very large degree. This paper lists some facts about their dominant role in all channels of globalization. Therefore, the importance of multinational enterprises in foreign direct investment and production...

This paper investigates Samuelson's (JEP, 2004) argument that technical progress of the trade partner may hurt the home country. We illustrate this prospect in a simple Ricardian model for sitations with outward knowledge spillovers. Within this framework Samuelson's Act II effects may occur....

The paper discusses the most important elements of an institutional order for a globalizing world economy. Rules for the exchange of goods, for factor movements, for the monetary domain and for the allocation of the environment are distinguished. It is analyzed in which direction these rules...

The ongoing process of globalization, which is boosted by technological and political catalysts as well, increasingly raises public concerns. It is feared that international integration will be accompanied by national disintegration, since the income distribution in rich countries will become...

Market exchange is subject to an endogenously-determined level of predation which impedes specialization and gains from trade. Utility-maximizing agents opt between careers in specialized production and careers in predation. Three types of equilibria may emerge, autarky (with no predation and no...