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The relationship between democracy and globalisation has been the focus of substantial policy and academic debate. Some … argue that democracy and globalisation go hand in hand suggesting that unrestricted international transactions leads to … trade and financial globalisation over the period 1870-2000 and treat both democracy and globalisation as both cause and …
Persistent link: https://www.econbiz.de/10005063376
The relationship between democracy and globalisation has been the focus of substantial policy and academic debate. Some … argue that democracy and globalisation go hand in hand suggesting that unrestricted international transactions leads to … trade and financial globalisation over the period 1870-2000 and treat both democracy and globalisation as both cause and …
Persistent link: https://www.econbiz.de/10014224418
Persistent link: https://www.econbiz.de/10003579534
Persistent link: https://www.econbiz.de/10003543379
This paper analyzes the conflicting explanations of the global imbalances’ pattern and the size of the US external deficit. In this document, it is argued that, far from being incompatible, the explanations suggested are part of a broader story. The drop of the US saving rate has played a...
Persistent link: https://www.econbiz.de/10010849641
Governments have rarely imposed or removed capital controls in response to short-term fluctuations in output, the terms of trade, or financial-stability considerations. We show empirically that controls on the international flow of financial capital are highly durable, often remaining in place...
Persistent link: https://www.econbiz.de/10010939663
Persistent link: https://www.econbiz.de/10011695732
Persistent link: https://www.econbiz.de/10004998660
The Great Depression was marked by a severe outbreak of protectionist trade policies. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the...
Persistent link: https://www.econbiz.de/10005040637
The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool could be used for emergency lending in response...
Persistent link: https://www.econbiz.de/10005089048