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We study linkages between financial development, international trade, and long-run growth using data since 1880 for seventeen now-developed "Atlantic" economies and a set of cross-country and dynamic panel data models. We find that finance and trade reinforced each other before 1930, but that...
Persistent link: https://www.econbiz.de/10013125572
What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...
Persistent link: https://www.econbiz.de/10012759104
upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this … paper also argues that despite (and beyond) Singapore, one has to go further than the GATT/WTO to see the potential …
Persistent link: https://www.econbiz.de/10013234937
We analyze a two-country model of trade in both legitimate and counterfeit products. Domestic firms own trademarks and establish reputations for delivering high-quality products in a steady-state equilibrium. Foreign suppliers export legitimate low-quality merchandise and counterfeits of...
Persistent link: https://www.econbiz.de/10013215713
This paper uses newly available data on Chinese trade flows to establish novel and confirm existing stylized facts about firm heterogeneity in trade. First, the bulk of exports and imports are captured by a few multi-product firms that transact with a large number of countries. Second, the...
Persistent link: https://www.econbiz.de/10013151367
We investigate and compare countries' export growth based on their performance at the extensive and intensive export margins. Our empirical approach is motivated by an extension to the Melitz (2003) model of heterogeneous firms in which exporters are subject to a one-time sunk cost and also a...
Persistent link: https://www.econbiz.de/10012759664
take this classic question to the data by measuring the spillover e¤ects of China's productivity growth. Our framework … the spillover e¤ects of China's productivity growth are small causing the real incomes of China's trading partners to …
Persistent link: https://www.econbiz.de/10013130268
/capita, shares in world trade and market capitalization attributable both jointly and single to China, India, and Brazil (the three … time. In contrast the North‐China gap falls from 57.2 to 13.1 between 1990 and 2009, and India from 70.4 to 38.1 using … market exchange rates and from 23.4 to 5.5 for China and from 20.7 to 11.4 for India using PPP rates. We calculate the …
Persistent link: https://www.econbiz.de/10013113158
This paper is the first chapter in the Oxford Companion to the Economics of China (Oxford University Press, forthcoming …). Rather than trying to summarize other contributors' views, we provide our own perspectives on the Economics of China …--the past experience and the future prospects. Our reading of China's economic development over the past 35 years raises two …
Persistent link: https://www.econbiz.de/10013072868
. While the substantial presence of FIEs has contributed greatly to the recent export-led growth of China, an important …
Persistent link: https://www.econbiz.de/10012759861