Persistent current account imbalances in many least developed and emerging countries have excited considerable interest among researchers and policy makers to have a clear understanding of the dynamics of the current account and its role in macroeconomic outcomes. Based on the saving-investment...

Abstract Both Mexico and China have started export orientation in some industries, through assembly operations, based on imported inputs a couple of decades ago. The literature on industrialization, has discussed the questions of import substitutions and outward-orientation mainly as alternative...

Beginning with ’90 years in Romania have been created more and more private enterprises, which today form a consistent sector of so called “small and mid-sized enterprises” (SMEs). Focusing on profit and being in favorable conditions with a high market require, the SMEs not always pay...

In this historical analysis of U.S. trade policy, we apply the median voter model to explain legislative decision-making. In this model, the level of tariff protection is expected to change with changes in the median legislator. We show that this simple model does a remarkable job of explaining...

We obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these are the same across countries. We find that we cannot reject this hypothesis for the first and last three decades of the 20th century. We conclude that: (i) there are few, if...

In this paper we clarify the impact that barriers to capital accumulation can have on a two-sector neoclassical growth model's ability to explain the observed differences in incomes across countries. We show that the effect of barriers to technology adoption in a two sector model is necessarily...

Most of the people all over the world claim that globalization is a result of dynamic interactions between economic, technological, social and political factors. The aim of this paper is to document some stylized facts on this phenomenon in order to take

Like many countries, Spain has gone through a series of financial crises, both before and after its industrialization. There are many underlying causes for these crises, as well as for the current Spanish downturn. It is worth noting that there are similarities between recessions throughout the...

The article refers to a definition of globalisation in three perspectives, namely the development of territorial boarders and in particular the redefinition of regions, the development of the division of labour and distribution of power, and the changed role of culture. The latter is thereby not...

Economic integration is nowadays likely to be larger in major economies around the world, especially among the ten active countries in the Southeast Asia. The purpose of this study is to investigate the impacts of the possible trade agreement between the ASEAN and its current FTA partners as...