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 …

After decades of rising global economic integration, the world economy is now fragmenting. To measure this phenomenon …

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 …

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 …

Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to … reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of …

favorable nor unfavorable implication for world trade; instead the balance of trade-creating and trade-diverting effects …