Exporting firms are affected in many ways by competition on foreign markets. This paper focuses on the impact of Asian competition on the bilateral export performance of Belgian firms, controlling for firm level as well as destination-market characteristics. Export performance is measured in...

ASEAN countries have deliberated on the feasibility of a monetary union that seeks to set a common currency in the region. This is in accordance with the second declaration of the Bali Concord reaffirming the intention toward economic cooperation and integration. This study investigates the...

Although economic integration under the rubric of the Asia-Pacific Economic Cooperation (APEC) has been relatively lackluster, bilateral and regional accords in the Asia-Pacific region have been proceeding at an unprecedented pace. This paper considers the economics and political economy of the...

This paper studies the relationship between globalization and the composition of public education expenditures. The theoretical model is embedded in a median voter setting and is based on the assumption that globalization leads to lower tax revenues as well as an increase in the relative wage of...

In this paper we evaluate the current account patterns of China and Germany. We point out that China's current account surplus as a share of global GDP in recent years resembles that of Germany’s. Yet, an important difference is that the Euro block’s current account inclusive of Germany, has...

Este artigo analisa o comportamento das economias dos quatro países membros do Mercosul. O objetivo consiste em verificar se, sob regimes de câmbio flutuante, há sinais de convergência macroeconômica entre os países do Bloco. Para tanto, a simulação de choques com o uso de vetores...

A integração monetária e financeira está de volta à agenda no Mercosul. Novos mecanismos de cooperação têm sido criados, tais como o Fundo Estrutural de Convergência (2006), o Banco do Sul (2007) e a possibilidade da utilização de pesos argentinos e reais brasileiros para a...

Using an industry-level dataset of production and trade spanning 75 countries and 5 decades, and a fully speciÞed multi-sector Ricardian model, we estimate productivities at sector level and examine how they evolve over time in both developed and developing countries. We find that in both...

The global financial crisis has affected all of Asia and hit the Philippine economy also hard. This is because global demand still represents a major factor behind Asia’s export growth. Indeed, the relationship between U.S. import growth and Asian intraregional export growth has actually...

I develop a dynamic general equilibrium model to understand how multinationals affect host countries through knowledge diffusion. Workers in the model learn from their managers and knowledge diffusion takes place through worker mobility. Unlike in a model without learning, I present a novel...