Patterns of commodity trade and foreign direct investment are not consistent with the proposition that European economies are experiencing a process of increasing 'globalization'. Internationalization takes place as economic integration within the European Union and the European Union apparently...

This paper analyzes the approach to the global imbalances (and probable global savings deficit) problem in the light of long-term interests of each global actor. It outlines three long-term trends that will change the growth landscape in twenty years to come. Those are population ageing, the...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...

The science and technology are essential to attain the millennium objective of both the developed countries, that are close to the technological frontier, and the developing countries, that must catch up with the former ones. The sustainable economic growth implies more than the mere opening...

Contagion phenomena are a real challenge for economists and economic theory, and in the same time they induce important policy issues at national and international level. Despite significant progress has been made in recent years, there is still no consensus on their definition. This paper aims...

Am 68. »ifo Konjunkturtest International« (KTI) beteiligten sich gut 650 Experten aus 80 Ländern. Das Weltwirtschaftsklima hat sich zwar seit der Umfrage im Januar nicht weiter verbessert, blieb aber mit 6,55 Punkten auf dem hohen Niveau vom Jahresanfang. Während die aktuelle Lage noch...