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Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two-thirds of global output. Each national EPU index reflects...
Persistent link: https://www.econbiz.de/10012455940
financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has …In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … the key challenge now facing India's policymakers on this front …
Persistent link: https://www.econbiz.de/10012463989
"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...
Persistent link: https://www.econbiz.de/10010522397
/rental ratios the world round between 1870 and 1940. The data offer a useful way to identify the impact of globalization on the pre …
Persistent link: https://www.econbiz.de/10012470966
Some world historians attach globalization big bang' significance to 1492 (Christopher Colombus stumbles on the … important events in recorded history. Other world historians insist that globalization stretches back even earlier. There is a … integration of markets between trading economies (e.g., the central manifestation of globalization, commodity price convergence …
Persistent link: https://www.econbiz.de/10012471135
This paper examines the effect of reduced transaction costs in the international trading of assets on the ability of governments to issue debt. We examine a model in which governments care about the welfare of their citizens, and thus are more inclined to default if a large proportion of their...
Persistent link: https://www.econbiz.de/10012471194
This paper analyzes the effects of the legal rules governing transnational bankruptcies. We compare a regime of territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy -- with a regime of universality are adjudicated in a...
Persistent link: https://www.econbiz.de/10012471197
To what extent must nations cede control over their economic and social policies if global efficiency is to be achieved in an interdependent world? This question is at the center of the debate over the future role of GATT (and its successor, the WTO) in the realm of labor and environmental...
Persistent link: https://www.econbiz.de/10012471491
This paper pursues the comparison of economic integration today and pre 1914 for trade as well as finance, primarily 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...
Persistent link: https://www.econbiz.de/10012471593
This paper argues that the globalization of securities markets may promote contagion among investors by weakening …
Persistent link: https://www.econbiz.de/10012471634