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Does international financial integration boost economic growth? The empirical literature has not yet established a robust link between openness to the international capital market and economic growth. In this paper we turn to the economic history of the first era of financial globalization...
Persistent link: https://www.econbiz.de/10013139547
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Does international financial integration boost economic growth? The question has been discussed controversially for a long time, and a large number of studies has been devoted to its empirical investigation. As of yet, robust evidence for a positive impact of capital market integration on...
Persistent link: https://www.econbiz.de/10011793640
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...
Persistent link: https://www.econbiz.de/10003655033
1970 to 2003.During the past thirty-five years, the world has witnessed nearly twenty thousand terrorist incidents. The … increasingly global scope of terrorism has raised important questions about its economic impacts in countries around the world. We …
Persistent link: https://www.econbiz.de/10014059225
challenge for economists. The International Monetary Fund proposes within its periodic World Economic Outlook report a measure …-frequency information. Pseudo real-time results show that this approach provides reliable and timely nowcasts of the world GDP annual growth …
Persistent link: https://www.econbiz.de/10013045125
today and will concern them in the future - all over the world, poor or rich. Traditionally, questions about allocative …
Persistent link: https://www.econbiz.de/10014016562
Persistent link: https://www.econbiz.de/10009721504
Economic adjustment and reform programs, including those supported by international financial institutions (IFIs), must cope with informational asymmetries and special interest politics. This presents a particularly serious issue when IFIs make structural economic reforms a condition for...
Persistent link: https://www.econbiz.de/10014400737
subject to self-fulfilling variations in the world real interest rate. Those expectation-driven changes in the borrowing cost … asset prices, GDP, consumption, investment and employment). When firms around the world benefit from unexpectedly low debt … internationally. Such a stylized model thus offers one way to rationalize both the existence of world business-cycle factor documented …
Persistent link: https://www.econbiz.de/10011911509