The Greek paradox of falling wages that do not lead to increased exports can be reconciled with standard economic theory, once a number of facts are taken into account. Actually, exports of goods that have not been facing the additional adverse effect of highly increased after tax energy prices...

The subject of this article is the application of Intellectual Property Rights (IPRs) to Africa's cultural economy, and its implications for development. Drawing on extensive research, including field work in Africa and interviews with key people in the field, the study explores the concept,...

Given the decline in growth momentum in the manufacturing sector in many OECD countries, the role of knowledge-based capital has emerged as a key driver for sustained growth. While empirical studies on estimating knowledge spillovers have usually been undertaken at the country level, the...

On the occasion of the 25th anniversary of the WTO, this paper re-estimates the impact of WTO accession on growth. Joining the multilateral trading system not only expands access to international markets but also requires commitment to domestic reforms. Tang and Wei (2009) showed that there is...

Foreign driven medium-term oscillations that originate from uctuations in technological frontier countries gained widespread attention among policymakers. To study this phenomenon in the context of domestic and other foreign drivers of the euro area business cycle, we develop a medium-scale,...

Globalization has significantly changed the composition and structure of emerging economies, which has in turn reallocated factors across various economic activities. In this context, this study examines the sources of labor reallocation or structural change, and measures and empirically...

Globalization has significantly changed the composition and structure of emerging economies, which has in turn reallocated factors across various economic activities. In this context, we examine the sources of labor reallocation or structural change, and measures and empirically evaluates the...

In this paper, we perform different simulations to assess the effect of the Trump administration's international trade policy on the Chinese and American economies in the next five years. To do so, we develop a new economic simulator, namely the “Foreign Trade War Smash Wave Effect Simulator...

This study investigates the rising role of China's domestic market expansion from 1995 to 2011 in the world economy's growth. China maintained high domestic expenditure growth during the entire period, with even bigger increases in the last years, when the global financial crisis and subsequent...

This paper focuses on the role of institutions in the fight against poverty and inequality. Our view of institutions encompasses formal rules designed by polity (including those in the legal and economics sphere such as rules of property rights, contracts and liabilities) as well as informal...