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The liberal international legal order faces a legitimacy crisis today that becomes visible with the recent anti-internationalist turn, the rise of populism and the recent Russian invasion of Ukraine. Either its authority or legitimacy has been tested many times over the last three decades. The...
Persistent link: https://www.econbiz.de/10014346785
This paper exploits a novel bank-level monthly dataset to assess the effects of global liquidity on the global flows of euro area banks. The period associated with the European sovereign debt crisis has witnessed increased growth in euro area bank claims on extra-euro area residents, against a...
Persistent link: https://www.econbiz.de/10011446311
Globalization and information and communication technologies pushed national financial regulators to establish international standard setting bodies (SSBs) which promote non-binding international financial regulatory standards. However, finance inevitably has social and human rights impacts and...
Persistent link: https://www.econbiz.de/10012909899
We examine a balanced panel of globalization indices for 129 countries over the years 1991- 2010. We report evidence of cross-country sigma convergence in the overall globalization index. Sigma convergence also holds for each of the economic, political, and social globalization indices, as well...
Persistent link: https://www.econbiz.de/10012938167
We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … capital allocation, a 2.8% lower world GDP, a 12% rise in the cross-country dispersion of GDP per capita, lower wages in …
Persistent link: https://www.econbiz.de/10014340224
Conventional wisdom holds that globalization has peaked and is now in retreat. Dani Rodrik argued in 2000 that economic integration conflicted with national sovereignty and that this tension would, or at least should, put a brake on economic globalization. Has that view been vindicated? This...
Persistent link: https://www.econbiz.de/10014346472
The world is witnessing growing turbulence stemming from geopolitics and a tangible threat of economic disintegration …
Persistent link: https://www.econbiz.de/10014496726
Persistent link: https://www.econbiz.de/10013153033
London has moved ahead of New York to reclaim the number one position. London climbed 12 points in the ratings to lead New York by eight points. The GFCI is on a scale of 1,000 points and we believe that a lead of fewer than 20 points indicates relative parity. London and New York are often as...
Persistent link: https://www.econbiz.de/10012825774
Persistent link: https://www.econbiz.de/10012825926