Goal of the text is to find links between current phase of economic globalisation and income distribution in developing economies. Dynamics and structure of income in so called emerging economies is in the bigger and bigger extend affected by growing international flows of trade and capital....

A number of theoretical studies have tended to trace the nature of globalization process' impacts (mostly characterised by trade opening) on informality, while relevant empirical literature has been not well developed. The paper aims to fill this knowledge gap by shedding further light on the...

Using recently developed panel data techniques on data for 43 developing countries over the period 1970-98, this paper provides an exhaustive analysis of casuality between aggregate private investment and financial development. GMM estimation on averaged data, and a common factor approach on...

Using a multi-level factor model, we estimate a global factor and country factors using the real macroeconomic variables of 71 countries from 1970 to 2018. The global factor successfully captures economic fluctuations in the world economy and primarily comoves with the business cycles of...

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...

Small, open developing economies in general, and small island developing states (SIDS) in particular, have specific macroeconomic characteristics due both to their openness and their small size. Small size means they can never have fully independent capital-intensive domestic economies, so to...

Recent energy and food price surges, in the wake of Russia's invasion of Ukraine, have exacerbated inflation pressuresthat are unusually high by the standards of the past two decades. High and rising inflation has prompted many emerging market and developing economy (EMDE) central banks and some...