We study the roles of globalization and structural change in the evolution of international GDP comovement among … share of less correlated sectors in GDP. Globalization - trend reductions in trade costs - exerts two opposing effects on … therefore comovement. On the other, globalization induces structural change towards services because it reduces the relative …

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …