and reducing public debt. Economic policy has therefore permitted more sustained and stable growth in this period than … wages. Low inflation helps create a stable economic environment, which is conducive to growth and a stable exchange rate … occasions. 17 The effect of changes in interest rates and the exchange rate is to stimulate or dampen aggregate demand, and …

of countries but divergence (or decoupling) between them. -- Globalization ; business cycles ; macroeconomic fluctuations … economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates - output … categorize the 106 countries in our sample into three groups - industrial countries, emerging markets, and other developing …

global trader and the major recipient of foreign direct investment in the world. If its growth of trade holds, soon China … compared to that of Japan or the Asian emerging economies and, indeed, China’s share of world trade is still far below that of … impact of growth and trade not only in the short term, but also in the long term. The paper is structured in the following …

not only different fi gures on income distribution, but also with two totally different world economic (and thus … South = the rest of the world except for Eastern Europe and ex-USSR; Asia includes China, but not Japan. A Converging or …Economic & Social Af f air s DESA Working Paper No. 2 ST/ESA/2005/DWP/2 October 2005 A Converging or Diverging World …

attempts to do so and produces its own estimates. There is no simple answer to the question of whether or not the world is …This paper discusses some of the problems of method and data in measuring world inequality. It describes some recent … becoming more unequal. If a variety of methods are employed and compared, a complex answer emerges, showing that inequality is …

of external imbalances. This paper explores to what extent these two global trends can be understood as a reaction to …Since the late-1990s, the global economy is characterised by historically low risk premia and an unprecedented widening …) preference shocks ("savings glutʺ hypothesis), and (iii) investment shocks ("investment droughtʺ hypothesis). In order to …

presence and in the absence of trade liberalisation. Several interesting results emerge from the study. First, FKI tends to … qualification and is assumed to be sector-specific, in the absence of trade liberalisation a higher proportion of benefits of FKI … accrue to skilled labour and poverty increases by all measures for both urban and rural households. In the presence of trade …

), the international conference on Economic Growth and Distribution: The Nature and Causes of the Wealth of Nations (Lucca … trade and foreign direct investments, it has been natural for economists to ask whether a causal link between globalisation … higher degree of within-sector inequality), results in an inverted U-shaped curve relating economic growth to WCII (Kuznets …