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We analyze the impact of technology on production and trade in services, focusing on the foreign exchange market. We identify exogenous technological changes by the connection of countries to submarine fiber-optic cables used for electronic trading, but which were not laid for purposes related...
Persistent link: https://www.econbiz.de/10011605934
Successful economic development is usually characterized by two salient phenomena: industrialization and demographic transition. Chronologically both events happen so closely to each other that historians and economists alike suspect that they are interrelated. This paper develops a theory for...
Persistent link: https://www.econbiz.de/10010264936
, geography has also affected colonization policies and, therefore, institutional outcomes. Using non-colonized countries as a …
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the observed pattern and provide a simple theoretical argument that highlights the interplay between an unequal geography …
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The paper aims to examine the role of institutions relative to economic policy and geography in explaining the … that (i) higher level of IQI along with economic policy and geography factors lead to a positive improvement in the level … of DQI; and (ii) results remain robust for IQI and relatively robust for economic policy and geography even when it is …
Persistent link: https://www.econbiz.de/10010316763
The paper uses nonparametric methodology to examine the role of institutions in understanding differential levels of development across countries. This technique estimates first order derivatives for every country allowing a deeper look into the impact of institutions on development. The...
Persistent link: https://www.econbiz.de/10010316802
This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion,...
Persistent link: https://www.econbiz.de/10010318954