In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

This paper seeks to contribute to the debate on the impact of globalisation on sovereignty by analysing how sovereign debt crises affect perceptions of sovereignty in the countries where they occur. I argue that sovereign debt crises are perceived as threats to sovereignty by citizens and...

The claim of globalization critics that the income gap to industrial countries is bound to widen for essentially all developing countries as a consequence of economic globalization is in conflict with empirical evidence. Economic performance differs tremendously across developing countries. We...

In der dritten Welt wird die ökonomische Entwicklung verhindert, weil die Länder Kredite ausländischer Gläubiger bedienen müssen. Ein Schuldenerlass ist notwendig, weil demokratische Regierungen nur bedingt für die Politik ihrer nicht legitimierten Vorgänger in die Pflicht genommen werden...