Global financial integration has been associated with divergent patterns of real convergence and the current account in emerging markets. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account...

This paper examines the relevance of financial market characteristics for explaining the catching-up process in Europe and Asia. Global financial integration has been associated with divergent patterns of real convergence and the current account in emerging markets. While countries in emerging...

Financial globalisation has been associated with divergent current account patterns in emerging market economies. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account deficits. In this paper we...

Global financial integration has been associated with divergent patterns of real convergence and the current account in emerging markets. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account...

There is an on-going debate about tax competition or tax harmonization. The high-tax welfare states want to keep tax rates high so that they can continue to fund their social welfare programs. But they are losing business and investments to lower tax jurisdictions where governments let people...

Many of the emerging market economies in Europe are presently running current account deficits which are quite high relative to any global or historical standard and are fundamentally unsustainable. This includes the three poorer European Union (EU) members of the old Europe (Greece, Portugal,...

The impact of FDI onto host countries economies is heavily debated, particularly for transition economies. However, sectoral research is scarce. Building on Aristotelous and Fountas (1996) and using data from automobile manufacturers associations (OICA and ACEA), we analyze the impact of...

Many of the emerging market economies in Europe are presently running current account deficits which are quite high relative to any global or historical standard and are fundamentally unsustainable. This includes the three poorer European Union (EU) members of the old Europe (Greece, Portugal,...

Stagnating globalisation, the possible weaponisation of dependencies by autocracies, and US-China tensions threaten to disrupt Germany's export-driven economic model. But German efforts to 'derisk' that model remain underdeveloped, as does its policy toolkit. Germany's most important trade...

Following a five-year period of uninterrupted growth and reaching a historical peak in 2007, world foreign direct investment flows (FDI) declined in 2008, in large part as a result of the global financial and economic crisis. The European Union (EU) as a major source and recipient of FDI flows...