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never been constant. Globalization increased poor country specialization in commodities when the world went open after the … of life deep into the 18th century. Does world market integration breed more or less commodity price volatility? The … been associated with much greater commodity price volatility, while world market integration associated with peace and pro …
Persistent link: https://www.econbiz.de/10012463899
controlling for these factors, we find that greater exposure to globalization shaped the pattern of regional industrialization in …We use new data on manufacturing in Canada to quantify the impact of globalization on the growth and composition of … industrialization in the second half of the nineteenth century. We find that industries and regions more exposed to international trade …
Persistent link: https://www.econbiz.de/10012481264
In this paper, the evolution of thought regarding protectionist trade policies in developed and in developing countries is examined and contrasted. In the developing countries distrust of markets and a belief in the infant industry argument led to highly protectionist trade regimes. The...
Persistent link: https://www.econbiz.de/10012475478
that accelerated even more up to 1950-1975. What explains the spread of the industrial revolution world-wide and this … to have taken resource advantages away from the European and North American leaders, and integrating world financial …
Persistent link: https://www.econbiz.de/10012461848
trade forces produced rising primary product specialization and de-industrialization in the poor periphery. More recently …, modern economists argue that volatility reduces growth in the poor periphery. This paper assess these de-industrialization … divergence between core and periphery. Third, the boom and its de-industrialization impact was only part of the story; growth …
Persistent link: https://www.econbiz.de/10012464805
Banking crises dramatically weaken fiscal positions in both groups, with government revenues invariably contracting, and fiscal expenditures often expanding sharply. Three years after a financial crisis central government debt increases, on average, by about 86 percent. Thus the fiscal burden of...
Persistent link: https://www.econbiz.de/10012464062
This paper addresses the interactions between globalization, the quality of democracy, and economic convergence using … and globalization. To reflect context, as defined by space (geography) and time (history), we control for the distance to … and globalization put forward by Eichengreen and Leblang (2008) for the period 1870-2000. Focusing on the more recent wave …
Persistent link: https://www.econbiz.de/10012459086
What does the historical record tell us about how to conduct monetary policy in a deflationary environment? We present a broad cross-country historical study of deflation over the past two centuries in order to shed light on current policy challenges. We first review the theoretical literature...
Persistent link: https://www.econbiz.de/10012467856
In advanced economies, a century-long near-stable ratio of credit to GDP gave way to rapid financialization and surging leverage in the last forty years. This "financial hockey stick" coincides with shifts in foundational macroeconomic relationships beyond the widely-noted return of...
Persistent link: https://www.econbiz.de/10012455937
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