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An Index of Global Economic Policy Uncertainty

Davis, Steven J. - 2016

Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two-thirds of global output. Each national EPU index reflects...

Persistent link: https://www.econbiz.de/10012981099

Globalization, Governance, and the Returns to Cross-Border Acquisitions

Ellis, Jesse A. - 2011

Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...

Persistent link: https://www.econbiz.de/10013131665

Cape Verde and Mozambique as Development Successes in West and Southern Africa

Braga de Macedo, Jorge - 2010

This paper applies an interpretation of how globalization and governance (G&G) interact with convergence given Cape … Verde and Mozambique's particular geographical and historical contexts. We hold that development success under globalization … diversification (an indicator of globalization) and income convergence (an indicator of governance) in the sub-regions of West and …

Persistent link: https://www.econbiz.de/10013135763

Global Asset Pricing

Lewis, Karen K. - 2011

Financial markets have become increasingly global in recent decades, yet the pricing of internationally traded assets continues to depend strongly upon local risk factors, leading to several observations that are difficult to explain with standard frameworks. Equity returns depend upon both...

Persistent link: https://www.econbiz.de/10013121990

Globalization, Structural Change and Productivity Growth

McMillan, Margaret - 2011

Large gaps in labor productivity between the traditional and modern parts of the economy are a fundamental reality of developing societies. In this paper, we document these gaps, and emphasize that labor flows from low-productivity activities to high-productivity activities are a key driver of...

Persistent link: https://www.econbiz.de/10013123689

Global Crises and Equity Market Contagion

Bekaert, Geert - 2011

Using the 2007-09 financial crisis as a laboratory, we analyze the transmission of crises to country-industry equity portfolios in 55 countries. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of...

Persistent link: https://www.econbiz.de/10013123703

The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies

Williamson, Jeffrey G. - 2012

This paper uses a new pre-1940 Third World data base documenting real wages and relative factor prices to explore their determinants. There are three possibilities: external price shocks, factor endowment changes, and technological change. As the paper's title suggests, technological change is...

Persistent link: https://www.econbiz.de/10013103885

Declining Labor Shares and the Global Rise of Corporate Saving

Karabarbounis, Loukas - 2012

The stability of the labor share is a key foundation in macroeconomic models. We document, however, that the global labor share has significantly declined over the last 30 years. This decline was associated with a significant increase in corporate saving, generally the largest component of...

Persistent link: https://www.econbiz.de/10013105000

Global Supply Chains and Wage Inequality

Costinot, Arnaud - 2012

A salient feature of globalization in recent decades is the emergence of "global supply chains" in which different … top of these chains. This suggests that the consequences of globalization on wage inequality may be very different in …

Persistent link: https://www.econbiz.de/10013107972

The Rise of Middle Kingdoms : Emerging Economies in Global Trade

Hanson, Gordon H. - 2012

In this paper, I examine changes in international trade associated with the integration of low- and middle-income countries into the global economy. Led by China and India, the share of developing economies in global exports more than doubled between 1994 and 2008. One feature of new trade...

Persistent link: https://www.econbiz.de/10013108243

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