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In light of recent global economic and geopolitical shocks threatening trade openness, this report aims to shed light on geoeconomic fragmentation and develops a rich set of new tools to assess its economic effects and implications for central banks. The report shows that, although global trade...
Persistent link: https://www.econbiz.de/10015199533
In recent years, major exporting economies experienced rising geopolitical risk. From the perspective of the US and the euro area, we employ detailed product data panels to study the consequences of trading-partner geopolitical risk shocks on bilateral imports. We find that these shocks lower...
Persistent link: https://www.econbiz.de/10015210004
The commodity market structure has changed at an incredible pace in the last 20 years and is now subject to intense scrutiny by academics and policy-makers. Taking a long-term view of price formation, empirical findings show that international trade and finance, mostly driven by emerging markets...
Persistent link: https://www.econbiz.de/10014521676
Since the last global financial crisis supervisory mechanisms and regulations have become more stringent which have significantly improved resilience of banks therefore positively affecting financial stability. Apart from traditional financial institutions which have been supervised according to...
Persistent link: https://www.econbiz.de/10014558484
As Latin America and the Caribbeans "Great Liberalization" reaches its 30th anniversary, we revisit the trade and growth debate by updating and expanding Estevadeordal and Taylors 2013 paper. To better understand the regions heterogeneity of policies and outcomes, we extend this analysis to...
Persistent link: https://www.econbiz.de/10012534447
This study provides a stage-level analysis of firm-scale pooled data of 16 Asian countries to classified income economy-based data for various firm- and country-specific predictors of leverage. Our analysis captures the selection impact of both micro- and macro-level determinants on capital...
Persistent link: https://www.econbiz.de/10012657514
Die Vorstellung, die Wirtschaftspolitik könne auf die Globalisierung durch eine internationale Kooperation und Harmonisierung etwa der Sozialnormen antworten, ist ökonomisch nicht wohl begründet. Es ist eine Illusion, die Bedingungen für den Produktionsfaktor Arbeit weltweit harmonisieren zu...
Persistent link: https://www.econbiz.de/10010265347
So far, very little attention has been paid to the roles of foreign subsidiaries located in Poland and if or how these roles have evolved. Simultaneously, there exists strong empirical justification for assuming these roles have been evolving over the years. Through a literature review and...
Persistent link: https://www.econbiz.de/10015192124
International economic engagement has been increasingly framed in terms of liberal democratic values. Specifically, Chinese aid has been at the center of this debate. Since Chinese aid comes with "no strings attached," a popular narrative is that Chinese aid poses a challenge to conditional aid,...
Persistent link: https://www.econbiz.de/10013353427
The attraction of foreign direct investment (FDI) is considered to be of particular importance for emerging economies because it represents a channel through which international convergence in standards of living may be achieved. One important effect of FDI is its impact on wages, both within...
Persistent link: https://www.econbiz.de/10013388587