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context of globalization then ( pre-1914) and now ( 1980 to the present). I then discuss the determinants of emerging market …
Persistent link: https://www.econbiz.de/10012465663
Globalization has made it possible for labor in developing countries to augment labor in the developed world, without … world's effective labor supply, triggered by geo-political events and technological innovations, coupled with the inability …
Persistent link: https://www.econbiz.de/10012463245
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10012464398
globalization, international tax competition, and the fading generosity of the welfare state. Financial globalization triggers a … key mechanism which links financial globalization to redistribution policy, this paper develops a stripped-down model …, where easing the country access to the world capital markets induces political-economy based policy changes that impact …
Persistent link: https://www.econbiz.de/10012452967
, which can be computed back to the first era of financial globalization for 17 countries. Global financial market integration … shapes hypothesized in earlier literature. We find no evidence of financial globalization reversing since the Great Recession …
Persistent link: https://www.econbiz.de/10012455557
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical … benefit from financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support …
Persistent link: https://www.econbiz.de/10012466181
In this essay, we argue that key assumptions in international macroeconomic theory, though useful for understanding the economic relationships among developed countries, have been pushed beyond their competence to include relationships between developed economies and emerging markets. The...
Persistent link: https://www.econbiz.de/10012465456
Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...
Persistent link: https://www.econbiz.de/10012464545
In this paper I use a panel data set to investigate the mechanics of sudden stops of capital inflows and current account reversals. I am particularly interested in four questions: (a) What is the relationship between sudden stops and current account reversals? (b) To what extent does financial...
Persistent link: https://www.econbiz.de/10012468416
I use a large cross country data set and panel probit analysis to investigate the way in which the interaction between trade and financial openness affect the probability of external crises. This analysis is related to debate on the adequate sequencing of reform. I also investigate the role...
Persistent link: https://www.econbiz.de/10012464263