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anticipated the collapse of the first era of globalization that began in the mid-nineteenth century. He admonished the short … organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …
Persistent link: https://www.econbiz.de/10012599404
cross country comparison in the post World War II period of 84 countries arrayed from very low to very high per capita …
Persistent link: https://www.econbiz.de/10012476996
of both advanced and emerging countries during two periods of globalization -- the pre-World War I classical gold … the two eras of globalization reflects factors such as strong cross-country interdependence fostered through links to gold …
Persistent link: https://www.econbiz.de/10012469694
In this paper we focus on the different historical regime experiences of the core and the periphery. Before 1914 advanced countries adhered to gold while periphery countries either emulated the advanced countries or floated. Some peripheral countries were especially vulnerable to financial...
Persistent link: https://www.econbiz.de/10012470132
globalization that goes back to the 1870s may end in turmoil just like the first wave which ended after World War I. It is too soon …The recent rise of populist anti-globalization political movements has led to concerns that the current wave of … across the world after the crisis. This suggests either a pause in the pace of integration or more likely a slowing down …
Persistent link: https://www.econbiz.de/10012453925
It is generally very difficult to measure the effects of a currency depreciation on a country's balance sheet and financing costs given the endogenous properties of the exchange rate. History provides at least one natural experiment to test whether an exogenous exchange rate depreciation can be...
Persistent link: https://www.econbiz.de/10012466369
We identify the timing of currency, banking crises and sudden stops in New Zealand from 1880 to 2008, and consider the extent to which empirical models can explain New Zealand's crisis history. We find that the cross country evidence on the determinants of crises fits New Zealand experience...
Persistent link: https://www.econbiz.de/10012462626
-run income loss or gain for countries that experienced crises. This is in contrast to the recent wave of globalization when …
Persistent link: https://www.econbiz.de/10012465070
in capital inflows during an era of intensified globalization. We find that higher levels of original sin (hard currency …
Persistent link: https://www.econbiz.de/10012465157
This paper describes the challenges of globalization in terms of the logic underpinning four distinct policy … vulnerabilities. They can be described as the impossible policy choices at the heart of globalization …
Persistent link: https://www.econbiz.de/10013388862