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Confucius Institute, Belt and Road Initiative, and Internationalization

Wang, Hao - 2020

In this paper, we study the role of Confucius Institute in supporting internationalization of Chinese enterprises. Employing a panel dataset containing 66 Belt-Road countries and 75 non Belt-Road countries from 2006 to 2017, we find that the Confucius Institute has had a positive effect on...

Persistent link: https://www.econbiz.de/10012826003

Arming in the Global Economy : The Importance of Trade with Enemies and Friends

Garfinkel, Michelle Robin - 2019

We analyze how trade openness matters for interstate conflict over productive resources. Our analysis features a terms-of-trade channel that makes security policies trade-regime dependent. Specifically, trade between two adversaries reduces each one’s incentive to arm given the opponent’s...

Persistent link: https://www.econbiz.de/10012892081

The Financial Channel of the Exchange Rate and Global Trade

Ma, Sai; Schmidt-Eisenlohr, Tim - 2023

This paper provides evidence that the U.S. dollar affects countries’ exports through the financial channel of the exchange rate (Bruno and Shin (2015)). Using global data on trade between countries whose currency is not the U.S. dollar, it documents a positive relationship between the dollar...

Persistent link: https://www.econbiz.de/10014347836

Mis-Allocation within Firms : Internal Finance and International Trade

Dörr, Sebastian; Marin, Dalia; Suverato, Davide; … - 2021

This paper develops a novel theory of capital mis-allocation within firms that stems from managers’ empire building and informational frictions within the organization. Introducing an internal capital market into a two-factor model of multi-segment firms, we show that international competition...

Persistent link: https://www.econbiz.de/10013312862

Financial integration, globalization, and real activity

De Nicolò, Gianni; Juvenal, Luciana - 2012

distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial … financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …

Persistent link: https://www.econbiz.de/10010280851

Exploring the intensive and extensive margins of world trade

Felbermayr, Gabriel J.; Kohler, Wilhelm K. - 2004

World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time (intensive margin). But trade may also increase if a trading bilateral relationship is newly established between countries that have not traded with each other in the past...

Persistent link: https://www.econbiz.de/10010274453

Global Value Chains, Trade Shocks and Jobs : An Application to Brexit

Vandenbussche, Hylke - 2019

We develop a network trade model with country-sector level input-output linkages. It includes (1) domestic and global value chain linkages between all country-sectors, (2) direct as well as indirect shipments (via other sectors and countries) to a final destination, (3) value added rather than...

Persistent link: https://www.econbiz.de/10012892112

Energy Markets and Global Economic Conditions

Baumeister, Christiane - 2020

This paper evaluates alternative indicators of global economic activity and other market fundamentals in terms of their usefulness for forecasting real oil prices and global petroleum consumption. We find that world industrial production is one of the most useful indicators that has been...

Persistent link: https://www.econbiz.de/10012834350

The Global Effects of COVID-19-Induced Uncertainty

Caggiano, Giovanni - 2020

We estimate a three-variate VAR using proxies of global financial uncertainty, the global financial cycle, and world industrial production to simulate the effects of the jump in financial uncertainty observed in correspondence of the Covid-19 outbreak. We predict the cumulative loss in world...

Persistent link: https://www.econbiz.de/10012834352

Increasing Resistance to Globalization : The Role of Trade in Tasks

Egger, Hartmut - 2019

decades can explain increasing resistance to globalization in industrialized countries. In a traditional trade model of a … analysis indicates that, in contrast to past episodes of globalization, public education does not shield workers from losses …

Persistent link: https://www.econbiz.de/10012865702