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Spolaore, Enrico - 2002

This paper presents a framework to understand and measure the effects of political borders on economic growth and per capita income levels. We present a model providing a theoretical foundation to estimate empirically the effects of political borders on growth. In our model, political...

Persistent link: https://www.econbiz.de/10012469486

Economic Integration and Political Disintegration

Alesina, Alberto - 1997

Trade liberalization and political separatism go hand in hand. In a world of trade restrictions, large countries enjoy economic benefits because political boundaries determine the size of the market. In a world of free trade and global markets even relatively small cultural, linguistic or ethnic...

Persistent link: https://www.econbiz.de/10012472651

Globalization and Political Structure

Gancia, Gino - 2016

The first wave of globalization (1830-1914) witnessed a decline in the number of countries from 125 to 54. Political … consolidation was often achieved through war and conquest. The second wave of globalization (1950-present) has led instead to an … globalization and political structure that accounts for these trends and their reversal. We show that political structure adapts to …

Persistent link: https://www.econbiz.de/10012456628

Financial Integration, Entrepreneurial Risk and Global Imbalances

Angeletos, George-Marios - 2011

How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? We investigate this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk-- a risk that...

Persistent link: https://www.econbiz.de/10012461896

Globalization and Monetary Control

Woodford, Michael - 2007

It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the … banks. In this paper, I consider three possible mechanisms through which it might be feared that globalization can undermine … globalization, even of a much more thorough sort than has yet occurred, is unlikely to weaken the ability of national central banks …

Persistent link: https://www.econbiz.de/10012465321

Neoclassical Growth in an Interdependent World

Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - National Bureau of Economic Research - 2023

We generalize the closed-economy neoclassical growth model (CNGM) to allow for costly goods trade and capital flows with imperfect substitutability between countries. We develop a tractable, multi-country, quantitative model that matches key features of the observed data (e.g., gravity equations...

Persistent link: https://www.econbiz.de/10014447272

Are We Fragmented Yet? Measuring Geopolitical Fragmentation and Its Causal Effect

Fernández-Villaverde, Jesús; Mineyama, Tomohide; … - National Bureau of Economic Research - 2024

After decades of rising global economic integration, the world economy is now fragmenting. To measure this phenomenon, we introduce an index of geopolitical fragmentation derived from various empirical indicators. This index is developed using a flexible dynamic factor model with time-varying...

Persistent link: https://www.econbiz.de/10014576667

The Globalization of Trade and Democracy, 1870-2000

Lopez-Cordova, J. Ernesto - 2005

. Late nineteenth century trade globalization may have helped generate the "first wave" of democratization. Between 1920 and …

Persistent link: https://www.econbiz.de/10012467568

Fooling Ourselves : Evaluating the Globalization and Growth Debate

Hallak, Juan Carlos - 2004

This paper evaluates how much of the economics profession has evaluated the evidence on the relationship between international trade and economic growth. The paper highlights the basic approaches to the trade and growth question that the literature has adopted. The case is made that more...

Persistent link: https://www.econbiz.de/10012468449

Better, Faster, Stronger : Global Innovation and Trade Liberalization

Coelli, Federica - 2016

This paper estimates the effect of trade policy during the Great Liberalization of the 1990s on innovation in over 60 countries using international firm-level patent data. The empirical strategy exploits ex-ante differences in firms' exposure to countries and industries, allowing us to construct...

Persistent link: https://www.econbiz.de/10012456033