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Uncertainty Shocks, Capital Flows, and International Risk Spillovers
Akinci, Ozge; Kalemli-Ozcan, Sebnem; Queralto, Albert - National Bureau of Economic Research - 2022
Foreign investors' changing appetite for risk-taking have been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of UIP premia, capital flows, and exchange rates. To understand how these risk sentiment changes...
Persistent link: https://www.econbiz.de/10013210054
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Globalization, Structural Change and International Comovement
Bonadio, Barthélémy; Huo, Zhen; Levchenko, Andrei A.; … - National Bureau of Economic Research - 2023
We study the roles of globalization and structural change in the evolution of international GDP comovement among … share of less correlated sectors in GDP. Globalization - trend reductions in trade costs - exerts two opposing effects on … therefore comovement. On the other, globalization induces structural change towards services because it reduces the relative …
Persistent link: https://www.econbiz.de/10014322746
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Multinationals and Structural Transformation
Alviarez, Vanessa I.; Chen, Cheng; Pandalai-Nayar, Nitya; … - National Bureau of Economic Research - 2022
of their affiliates in China to an exogenous change in China's openness to foreign direct investment (FDI). We find that … in industries where inward FDI was encouraged, Japan MNC's affiliates in China experienced increases in their employment …
Persistent link: https://www.econbiz.de/10013388850
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Post-Neoliberal Globalization : International Trade Rules for Global Prosperity
Guzman, Martín; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
This paper analyzes frameworks for the design of the rules for international trading, assuming that it is possible to have some rule of law. In the Arrow-Debreu benchmark, where there is no economic power and political power is seemingly irrelevant, there is no need for trade agreements - free...
Persistent link: https://www.econbiz.de/10014576561
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How Far Goods Travel : Global Transport and Supply Chains from 1965-2020
Ganapati, Sharat; Wong, Woan Foong - National Bureau of Economic Research - 2023
This paper considers the evolution of global transportation usage over the past half century and its implications for supply chains. Transportation usage per unit of real output has more than doubled as costs decreased by a third. Participation of emerging economies in world trade and...
Persistent link: https://www.econbiz.de/10014250184
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Production, Trade, and Cross-Border Data Flows
Chang, Qing; Cong, Lin William; Liyong, Wang; Zhang, … - National Bureau of Economic Research - 2023
We build a two-country general equilibrium model to analyze the effects of cross-border data flows and pre-existing development gaps in data economies on each country's production and international trade. Raw data as byproducts of consumption can be transformed into various types of working data...
Persistent link: https://www.econbiz.de/10014322803
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Global Macro-Financial Cycles and Spillovers
Ha, Jongrim - 2020
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012479322
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Financial Globalization, Financial Crises and Contagion
Mendoza, Enrique G. - 2009
Two observations suggest that financial globalization played an important role in the recent financial crisis. First …
Persistent link: https://www.econbiz.de/10012463217
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Globalization and innovation in emerging markets
Gorodnichenko, Yuriy - 2008
Globalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their … between globalization and innovation does not differ across the manufacturing and service sectors …
Persistent link: https://www.econbiz.de/10012464166
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Migration, Spillovers,and Trade Diversion : The Impact of Internationalization on Stock Market Liquidity
Levine, Ross - 2003
What is the impact of firms that cross-list, issue depositary receipts, or raise capital in international stock markets on the liquidity of remaining firms in domestic markets? Using a panel of over 3,200 firms from 55 countries during 1989-2000, we find that internationalization reduces the...
Persistent link: https://www.econbiz.de/10012469086