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Risk-Taking, Global Diversification, and Growth

Obstfeld, Maurice - 1992

gains through its positive effect on expected consumption growth. The mechanism linking global diversification to growth is …

Persistent link: https://www.econbiz.de/10012474882

Diversification through Trade

Caselli, Francesco - 2015

importance of the two mechanisms (sectoral specialization and cross-country diversification) and provide a new answer to the …

Persistent link: https://www.econbiz.de/10012457170

The Impact of Emerging Market Competition on Innovation and Business Strategy

Kueng, Lorenz - 2016

Canadian firms adjusts innovation activities, business strategies, and exit in response to large increases in Chinese imports … between 1999 and 2005. On average, process innovation declines more strongly than product innovation. In addition, initially …

Persistent link: https://www.econbiz.de/10012455840

From Imitation to Innovation : Where Is all that Chinese R&D Going?

König, Michael D. - 2020

two strategies toward that end: imitation and innovation. The theory bears predictions about the evolution of the …

Persistent link: https://www.econbiz.de/10012481599

To Starve or to Stoke? : Understanding Whether Divestment vs. Investment Can Steer (Green) Innovation

Pless, Jacquelyn - National Bureau of Economic Research - 2023

divestment to combat climate change. Will it work? This chapter explores whether divestment might induce green innovation, a … critical component of transitioning to a cleaner economy. Divestment could theoretically steer innovation by increasing the … investment opportunities. I argue that continuing to invest in dirty industries could drive green innovation conditional on …

Persistent link: https://www.econbiz.de/10014226139

Globalization and Emerging Markets : With or Without Crash?

Martin, Philippe - 2005

This paper develops a theory of financial crisis based on the demand side of the economy. We analyze the impact of financial and trade globalizations on asset prices, investment and the possibility of self-fulfilling financial crashes. In a two-country model, we show that financial and trade...

Persistent link: https://www.econbiz.de/10012467128

Financial Globalization and Emerging Markets : With or Without Crash?

Martin, Philippe - 2002

We analyze the impact of financial globalization on asset prices, investment and the possibility of crashes driven by self-fulfilling expectations in emerging markets. In a two-country model with one emerging market (intermediate income level) and one industrialized country (high income level),...

Persistent link: https://www.econbiz.de/10012469420

Liquidity Crises in Emerging Markets : Theory and Policy

Chang, Roberto - 1999

We build a model of financial sector illiquidity in an open economy. Illiquidity defined as a situation in which a country's consolidated financial system has potential short-term obligations in foreign currency that exceed the amount of foreign currency it can have access to on short notice can...

Persistent link: https://www.econbiz.de/10012471518

Emerging Market Crises : An Asset Markets Perspective

Caballero, Ricardo J. - 1998

Although internal policy mismanagements can be cited in most recent emerging market crises, they seldom account fully for the severity of these crises. The reluctance of international investors to provide the resources that would limit the extent of the reversal almost invariably plays a key...

Persistent link: https://www.econbiz.de/10012471969

How Important Are Terms Of Trade Shocks?

Schmitt-Grohé, Stephanie - 2015

According to conventional wisdom, terms of trade shocks represent a major source of business cycles in emerging and poor countries. This view is largely based on the analysis of calibrated business-cycle models. We argue that the view that emerges from empirical SVAR models is strikingly...

Persistent link: https://www.econbiz.de/10012457414