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The globalisation is supposed to reduce regional inequality, poverty and promote sustainability and improve overall human quality. Several studies have provided contradictory results in regard to the effect of globalisation, either in case of growth of GDP, or reduction in inequality and poverty...
Persistent link: https://www.econbiz.de/10014182773
This paper studies the effect of trade openness on output volatility. We find that trade openness generally increased output volatility, although this effect was stronger and more significant during 1950-1975 than during 1975-2000. However, if we split the sample into developed and developing...
Persistent link: https://www.econbiz.de/10014052513
This paper attempts to analyse the economic implications of the rise of China, India, Brazil and South Africa, for developing countries situated in the wider context of the world economy. It examines the possible impact of their rapid growth on industrialized countries and developing countries,...
Persistent link: https://www.econbiz.de/10009011707
The globalisation is supposed to reduce regional inequality, poverty and promote sustainability and improve overall human quality. Several studies have provided contradictory results in regard to the effect of globalisation, either in case of growth of GDP, or reduction in inequality and poverty...
Persistent link: https://www.econbiz.de/10009687635
Persistent link: https://www.econbiz.de/10003747972
The feedback of external debt on economic growth through gross domestic investment has provided quite interesting results throughout the world especially in developing countries where external and internal borrowing have been a tradition. Based on a system estimation approach, using Two Stage...
Persistent link: https://www.econbiz.de/10011525714
We generalise the traditional development-accounting framework to an open-economy setting. In addition to factor endowments and productivity, relative factor costs emerge as a source of real-income variation across countries. These are shaped by bilateral trade determinants (which underpin the...
Persistent link: https://www.econbiz.de/10011892529
Over the last decades there has been a sizeable increase in trade and financial openness, triggered by current and capital account liberalization as well as improvements in transport and communication technologies. As a consequence, the importance of spillover effects is likely to have increased...
Persistent link: https://www.econbiz.de/10011518032
The paper empirically examines the differential effects of trade on economic growth and investment based on cross-country data. In general, the results are largely consistent with the positive impact of trade on economic growth as found in the literature. However, the empirical results based on...
Persistent link: https://www.econbiz.de/10011845329
More than 170 years ago, Frédéric Bastiat noted in his masterly work Economic Sophisms that the “opposition to free trade rests upon errors, or, if you prefer, upon half-truths.”1 Ever since Adam Smith successfully replaced mercantilist orthodoxy with free trade doctrine in his celebrated...
Persistent link: https://www.econbiz.de/10012846238