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use accessions to \Globalisation Clubs" (WTO, OECD, EU), financial liberalisation and an instrument for trade openness to … study the trade-off between efficiency (proxied by real GDP per capita and TFP) and equity (proxied by the labour share of …We revisit the effects of globalisation over the past 50 years in a large sample of advanced and emerging countries. We …
Persistent link: https://www.econbiz.de/10012515467
integration for industrial countries, especially during the globalization period. However, developing countries do not show any …, show only a marginal change in risk sharing. Capital flows come in different types such as portfolio equity flows, debt …
Persistent link: https://www.econbiz.de/10013105986
tests a new hypothesis that the depth and efficiency of the domestic financial system impacts the efficacy of capital …
Persistent link: https://www.econbiz.de/10012897462
This chapter provides a broad overview of the upward trends in financial globalization and foreign direct investment … and asks whether and how financial globalization is linked with the foreign direct investment decisions of non … financial globalization provides a reduction in broadly defined transaction costs which can boost both trade and foreign direct …
Persistent link: https://www.econbiz.de/10012979903
Using a panel data set covering the period 1970-2004 and 96 countries, we provide empirical evidence that the composition of foreign capital, measured by the ratio FDI over total liabilities, has a positive effect on growth, directly and through convergence. Developing countries benefit...
Persistent link: https://www.econbiz.de/10012712662
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality, and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable inherent tensions in evaluating the risks and benefits associated with financial globalization. In the light of these …
Persistent link: https://www.econbiz.de/10014025737
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these …
Persistent link: https://www.econbiz.de/10003816538
The Marrakesh Agreement establishing the WTO recognizes the need for positive efforts designed to ensure that … commensurate with the needs of their economic development.This article discusses how the WTO contributes to facilitating Africa …'s integration into the WTO multilateral trading system. It is argued that, while African countries are actively engaged in the work …
Persistent link: https://www.econbiz.de/10012436848
Persistent link: https://www.econbiz.de/10013165248
This study argues that trade policies regarding financial services are an important - but typically neglected - determinant of capital flows and financial sector stability. Financial services trade liberalisation which promotes the use of a broad spectrum of financial instruments and allows the...
Persistent link: https://www.econbiz.de/10010229098