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Fractional trading (FT)—the ability to trade less than a full share—allows low-budget retail investors to trade high-priced stocks. This paper quantifies FT's impact on retail ownership and trading of high-priced stocks by exploiting its sequential introduction at four brokerage firms since...
Persistent link: https://www.econbiz.de/10013321811
from the North Atlantic, raising the importance of Asia in world trade, and boosting SouthSouth trade. How will trade … of the world? In particular, what can be expected of developing Asias intraregional trade and its trade with other … developing country regions? This paper addresses these questions by projecting a core baseline for the world economy from 2004 to …
Persistent link: https://www.econbiz.de/10009301863
The impact of international trade, or “openness”, on economic growth is difficult to quantify because of reverse causality. In this paper, I use recent advances in gravity equation estima- tion to generate a geography-based instrument for openness a la Frankel and Romer (1999). In contrast...
Persistent link: https://www.econbiz.de/10013065590
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Executive summary -- 1. China in the realm of the world economy / David Daokui Li -- 2. Interpretation of China …
Persistent link: https://www.econbiz.de/10003872925
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While the financial crisis of 2008-2009 led to the great collapse of international trade, the European debt crisis in 2010-2013 did not have such a drastic impact on trade. The collapse has been studied a lot in recent empirical literature, but the European debt crisis has not been investigated...
Persistent link: https://www.econbiz.de/10011504500
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Recent research has documented a U-shaped industrial concentration curve over an economy's development path. How far can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher-Ohlin model using industry data on 44 developed and developing...
Persistent link: https://www.econbiz.de/10010221543