We study the impact of nationalism and interstate frictions on international economic relations by analyzing market reaction to adverse shocks to Sino-Japanese relations in 2005 and 2010. Japanese companies with high China exposure suffer relative declines during each event window; a symmetric...

The paper explains a curious redirection of economic policies that uses the policy framework of Kalecki and Keynes only to undermine it. It does not negate their theory of demand management, but reformulates it to serve the powerful interests of finance in the era of financial globalisation. As...

This paper measures “debt disputes” between governments and foreign private creditors in periods of sovereign debt crises. We construct an index of government coerciveness, consisting of 9 objective sub-indicators. Each of these sub-indicators captures unilateral government actions imposed...

Political conflicts causing diplomatic tension and political unrest rarely escalate into direct violence or war. This paper identifies the financial effects of such non-violent political tension by examining Taiwan’s sovereignty debate. Non-violent events harming the relationship with mainland...

We examine the impacts of both domestic and international financial market development on R&D intensities in 22 manufacturing industries in 18 OECD countries for the period 1990–2003. We take account of such industry characteristics as the need for external financing and the amount of tangible...

We examine the impacts of both domestic and international financial market development on R&D intensities in 22 manufacturing industries in 18 OECD countries for the period 1990-2003. We take account of such industry characteristics as the need for external financing and the amount of tangible...

This report aims to accomplish three objectives: provide an assessment of Canada’s productivity performance; provide a synthesis of the productivity studies conducted by the Centre for the Study of Living Standards (CSLS) and the McKinsey Global Institute; and develop a framework for unbundling...

For Kaldor (1972), economic growth is the resultant of a chain-reaction between increases in supply and increases in demand. In order to show the interest of this view, I represent this growth process by an entrepreneurial growth model based on the principle of effective demand. The aggregate...

This article, by Ian A. Stewart, is a review of the recently released Industry Canada research volume Productivity Issues in Canada, edited by Someshwar Rao and Andrew Sharpe. Stewart begins by noting that at over 900 pages and 25 papers the volume represents an important contribution to the...

The relationship between conflict and artistic output is ambiguous. This paper proposes an explanation for the contradiction in research, which we term the war-art puzzle. We employ a global sample of 115 prominent classical composers born after 1800 and link their annual productivity with the...