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Globalization and pressure from increased competition have led to "splintering" of in-house services from formerly …
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We set up a dynamic stochastic model of a stylized economy comprising a final output sector (with traditional and modern firms) and an intermediate goods sector. It is shown that market integration reduces the volatility of the rate of return of capital invested in modern firms. The induced...
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distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial … financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …
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significant impediment to growth but religious and linguistic heterogeneity have not. Further, while economic globalization has … more from global integration. This suggests the importance of globalization in redressing the detrimental impact of ethnic …
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Development economists' disfavour with services as a viable engine of growth has been expressed both through theoretical and empirical analysis. One of the stylized facts of development economics is that share of services in employment increases only with the rise in per capita incomes. The...
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