China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country's low levels of financial and institutional development, state-dominated economy, and nondemocratic government. Notwithstanding the inefficient and risky growth model, the...

We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...

The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....

Starting from Professor Kornai´s assertion about the necessity to focus on the long-termperspectives of the transformation process, we analyze in this paper the Lisbon performanceof the countries of the European Union from such a long-term, structural perspective. Wepresent in a simple form the...

This paper examines international technology transfers using firm-level data across 43developing countries. Our findings show that exporting and importing activities are importantchannels for the transfer of technology...

In theory, one of the main benefits of financial globalization is that it should allow for moreefficient international risk sharing. In this paper, we provide a comprehensive empiricalevaluation of the patterns of risk sharing among different groups of countries and examinehow international...

This paper examines the link between multinational enterprises and employment growth atthe plant-level. We investigate in detail the comparative response of multinationals anddomestic firms to an economic crisis, using the empirical setting of a well defined case ofeconomic slowdown in Chile as...

In this paper, we provide an overview of the relationship between international migration and international trade as well as capital movements. After taking a brief historical perspective, we first investigate migration flows between two countries in a static, neoclassical context. We allow for...

The paper investigates the relationship between offshoring, wages, and the ease with which individuals' tasks can be offshored. Our analysis relates to recent theoretical contributions arguing that there is only a loose relationship between the suitability of a task for offshoring and the...

This paper studies whether skilled migrants contribute to the host country's 'productive efficiency' (Farrell, 1957) using input-output and immigration sectoral data for seven industries in twelve countries during the period 1999-2001. We find that skilled migrants contribute positively to a...