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What is the impact of movement towards free trade on output? Can this impact permanently affect output levels, and more importantly, will it have an impact on steady-state growth rates? This paper provides empirical evidence showing how countries have exhibited substantial increases in their...
Persistent link: https://www.econbiz.de/10005666425
The empirical analysis of the micro links between trade and knowledge diffusion allows us to distinguish among the key predictions of the theoretical literature on endogenous growth. This literature postulates that total factor productivity (TFP) is higher when trade gives access to a wider or...
Persistent link: https://www.econbiz.de/10011608591
This paper investigates Samuelson's (JEP, 2004) argument that technical progress of the trade partner may hurt the home country. We illustrate this prospect in a simple Ricardian model for sitations with outward knowledge spillovers. Within this framework Samuelson's "Act II" effects may occur....
Persistent link: https://www.econbiz.de/10003758086
Geographical fragmentation of production process reoriented the attention of scholars towards the issues concerning international trade. From trade in goods the world is increasingly experiencing trade in tasks. The concerns of the countries are largely shifting towards increasing their share in...
Persistent link: https://www.econbiz.de/10012926195
The first wave of globalization, commonly dated from 1870 to 1913, was not only a more gradual phenomenon throughout … the relevance of those factors to economic growth-cum-globalization, which has been overlooked by the literature. The rise … in factor endowments across the world, they fully explain globalization. The analysis calls for further integration of …
Persistent link: https://www.econbiz.de/10012904872
This paper investigates Samuelson's (JEP, 2004) argument that technical progress of the trade partner may hurt the home country. We illustrate this prospect in a simple Ricardian model for situations with outward knowledge spillovers. Within this framework Samuelson's Act II effects may occur....
Persistent link: https://www.econbiz.de/10014205493
Automobile markets are a prime example of the several steps in the second wave of globalization. While after the II WW … globalization of markets by integration of EU-NAFTA-ASIAN markets, although value chains remain regionalized: production in these … arose has a major producer and consumer of automobiles. The paper "Development Theory and Globalization, the Second Wave: A …
Persistent link: https://www.econbiz.de/10014145173
The second wave of globalization, usually dated from 1985 to the Present, is characterized by an increase of the goods … globalization. The analysis calls for further integration of growth and trade theories. Our reinterpretation is fully consistent … with the first wave of globalization and also gives a better framework to estimate the limits of the present globalization …
Persistent link: https://www.econbiz.de/10014145175
New changes after the pioneer works in Oviatt & McDougall (2005b) and Oviatt & McDougall (2005) suggest that we have now entered Phase II of internationalization, featuring an “IE Capitalism” with three stylized facts: The birth of INVs by MNEs through global value chains; the accelerated...
Persistent link: https://www.econbiz.de/10014035445
In this paper, we analyze the joint effect of persistency in innovation and export on firms' total factor productivity (measured in accordance with Levinsohn and Petrin, 2003). For this purpose, we use data on Italian manufacturing firms covering an eight-year time span (1998-2006) which allow...
Persistent link: https://www.econbiz.de/10012018727