innovation endogenously determines the dynamics of technology, and, therefore, market leadership and trade flows, in a world with … illustrates that, statically, globalization (defined as reduced trade barriers) has ambiguous effects on welfare, while …, dynamically, intensified globalization boosts domestic innovation through induced international competition. Accounting for …

emanating from the key currency country do more to destabilize the world economy than equal sized shocks coming from the other …

-movements of global factors in asset prices and capital flows with commodity prices, international trade and world output as well … as the sensitivity of different parts of the world to the Global Financial Cycle. We present evidence of the causal …

lead to faster growth in countries then known as the Third World, but now categorized as emerging and developing economies …

Globalization, in the form of financial flows, which is always advantageous on an aggregative level, typically creates … winners and losers, if left exclusively to market forces. The effects of financial globalization on income inequality depends … on whether the country exports its capital to the rest of the world or imports capital from abroad. In the capital …