Measured by the ratio of trade to output, the period 1870 1913 marked the birth of the first era of trade globalization …

disorder in the world economy. The interwar disorder often is linked to policies inconsistent with the constraint of the open … yield. This historical analytic narrative is compelling with significant ramifications for today's world, if true but …

Recent research in international economic history has opened up new lines of enquiry on the origins of globalization …

surpluses in the rest of the world. How can the issue be understood in a more historical perspective? We seek a meaningful … comparison between the two eras of globalization: quot;thenquot; (the period 1870 to 1913) and quot;nowquot; (the period since …

and its possible ascension to reserve currency status. In an unstable and financially integrated world, governments …' precautionary demand for reserve assets is likely to increase. But the world then risks a third crisis of the global reserve system …, another re-run of the Triffin paradox, with an ever-growing emerging-world insurance demand loaded onto a small group of ever …