Showing 1 - 10 of 43
This paper investigates the theory and evidence that history plays a role in shaping the direction of international trade. Because there are reasons to anticipate a positive correlation between the predominant direction of trade flows in the past and membership in preferential arrangements in...
Persistent link: https://www.econbiz.de/10012473283
's processing exports. Stock prices rise for firms competing with China in their home market while falling for firms importing … China's exchange rate policy in 2005 and 2010 and data on 6,050 firms in 44 countries. Renminbi appreciation has a positive … effect on firms exporting to China but little positive or even a negative impact on those providing inputs for China …
Persistent link: https://www.econbiz.de/10012461061
, a level that China should achieve by or soon after 2015. Among our more provocative findings is that growth slowdowns …
Persistent link: https://www.econbiz.de/10012461738
for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10012471593
This paper analyzes the determinants of spreads on syndicated bank lending to emerging markets, treating the loan-extension and pricing decisions as jointly determined. Compared to the bond market, our findings highlight the role of international banks in providing credit to smaller borrowers...
Persistent link: https://www.econbiz.de/10012471681
who participates in this shift. We exploit a dataset combining Gallup World Polls and Global Findex surveys for some 250 …
Persistent link: https://www.econbiz.de/10012599296
A financial crisis is a disturbance to financial markets. associated typically with falling asset prices and insolvency among debtors and intermediaries, which spreads through the financial system, disrupting the market’s capacity to allocate capital. In this paper we analyze the...
Persistent link: https://www.econbiz.de/10012476943
We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...
Persistent link: https://www.econbiz.de/10012479450
The Great Depression was marked by a severe outbreak of protectionist trade policies. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the...
Persistent link: https://www.econbiz.de/10012463508
The positive association between the service sector share of output and per capita income is one of the best-known regularities in all of growth and development economics. Yet there is less than complete agreement on the nature of that association. Here we identify two waves of service sector...
Persistent link: https://www.econbiz.de/10012463681