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China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in … during the post globalization period (2003-2019) increased by 11.5% of the corresponding pre-globalization period (1984 … contrast, following globalization, the average aggregate domestic profitability of US firms remained flat, and firms employed …
Persistent link: https://www.econbiz.de/10014512056
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 … wedges are fixed at their pre-globalization levels. We find that unbalanced financial globalization led to a worsening of …
Persistent link: https://www.econbiz.de/10014340224
. There are some indications of globalization in retreat, international trade growth slowing down and a transition from … various trends around global economic integration and pushing towards de-globalization is extremely difficult. This paper aims …
Persistent link: https://www.econbiz.de/10014496726
The key dynamics of the transatlantic banking crisis are analyzed – with emphasis on the fact that the banking disaster of 2007/08 was not really a surprise –, and the five key requirements for restoring stability and efficiency in the EU/OECD banking sector are highlighted. Most important,...
Persistent link: https://www.econbiz.de/10003936131
Market liberalization may not result in global pricing or full market integration if implicit barriersare important. We test this proposition for 22 emerging markets using the conditional version ofErrunza and Losq (1985) model. We estimate and compare the degree of integration for stocksthat...
Persistent link: https://www.econbiz.de/10008798297
This paper provides a comprehensive assessment of the relation between inflation and globalization, measured in terms … standard Barro-Gordon framework, which would require globalization to have a negative effect on the output-inflation tradeoff …
Persistent link: https://www.econbiz.de/10011347053
In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years, the authorities in the People's Republic of China (PRC) have made efforts to internationalize its currency through a two-track strategy: promotion of the use of the renminbi in...
Persistent link: https://www.econbiz.de/10010355692
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 … movements. -- capital market integration ; financial globalization ; economic history …
Persistent link: https://www.econbiz.de/10003655033
This study assesses the effect of globalisation on governance in 51 African countries for the period 1996-2011. Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised Method of Moments. The following findings are...
Persistent link: https://www.econbiz.de/10011496371
The present inquiry contributes to extant literature by simultaneously accounting for variations in financial development and financial globalisation in the assessment of hypothetical initial financial development conditions for the rewards of financial globalisation. The policy relevance for...
Persistent link: https://www.econbiz.de/10011407925