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Internationalization and the evolution of corporate valuation
Levine, Ross - 2005
"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
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Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
Kalemli-Ozcan, Sebnem - 2009
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on …
Persistent link: https://www.econbiz.de/10012008492
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Combinatorial Discrete Choice : A Quantitative Model of Multinational Location Decisions
Arkolakis, Costas; Eckert, Fabian; Shi, Rowan - National Bureau of Economic Research - 2023
We introduce a general quantifiable framework to study the location decisions of multinational firms. In the model, firms choose in which locations to pay the fixed costs of setting up production, taking into account potential complementarities among production locations. The firm's location...
Persistent link: https://www.econbiz.de/10014437008
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Global Supply Chains : The Looming "Great Reallocation"
Alfaro, Laura; Chor, Davin - National Bureau of Economic Research - 2023
Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and...
Persistent link: https://www.econbiz.de/10014372418
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A Theory of Trade Policy Transitions
Bowen, T. Renee; Broz, J. Lawrence; Rosendorff, B. Peter - National Bureau of Economic Research - 2023
Trade policy is set by domestic political bargaining between globalists and protectionists, representing owners of factors specific to export and import-competing sectors respectively. Consistent with the post-Civil War Era of Restriction, protectionists implement high tariffs when status quo...
Persistent link: https://www.econbiz.de/10014372419
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Globalization and Profitability of US Firms : The Role of Intangibles
Chintha, Bullipe R.; Jagannathan, Ravi; Sridhar, Sri S. - National Bureau of Economic Research - 2024
China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in … during the post globalization period (2003-2019) increased by 11.5% of the corresponding pre-globalization period (1984 … contrast, following globalization, the average aggregate domestic profitability of US firms remained flat, and firms employed …
Persistent link: https://www.econbiz.de/10014512056
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Core, Periphery, Exchange Rate Regimes, and Globalization
Bordo, Michael D. - 2001
advanced countries adhered to gold while periphery countries either emulated the advanced countries or floated. Some peripheral … evidence for the pre-1914 period of the different experiences of the core and peripheral countries in adhering to the gold …
Persistent link: https://www.econbiz.de/10012470132
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Global Production Sharing and Rising Inequality : A Survey of Trade and Wages
Feenstra, Robert - 2001
We argue that trade in intermediate inputs, or 'global production sharing,' is a potentially important explanation for the increase in the wage gap between skilled and unskilled workers in the U.S. and elsewhere. Using a simple model of heterogeneous activities within an industry, we show that...
Persistent link: https://www.econbiz.de/10012470348
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Globalization and Inequality : Historical Trends
O'Rourke, Kevin H. - 2001
the links between them. In doing so, it distinguishes between (a) the different dimensions of globalization; and (b …) between-country and within-country inequality. Theory suggests that globalization will have very different implications for … within-country inequality, depending on the dimension of globalization involved (e.g. trade versus factor flows), on the …
Persistent link: https://www.econbiz.de/10012470385
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Financial Systems, Economic Growth, and Globalization
Rousseau, Peter L. - 2001
that the growth and increasing globalization of these economies might indeed have been 'finance-led.' …
Persistent link: https://www.econbiz.de/10012470401