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). The study employed the Dynamic Conditional Correlation (DCC GARCH) to investigate time-varying correlation among the …
Persistent link: https://www.econbiz.de/10014438935
Why do some countries adopt market-oriented reforms such as deregulation, privatization and liberalization of competition in their infrastructure industries while others do not? Why did the pace of adoption accelerate in the 1990s? Building on neo-institutional theory in sociology, we argue that...
Persistent link: https://www.econbiz.de/10009477140
This article leverages uniquely abundant town-level data to examine spatial inequality in prices and wages during the First Globalisation. I build a new dataset on prices of traded and household goods, and wages of skilled and unskilled workers for a panel of 42 towns in Serbia, in the period...
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A cross-country comparative analysis shows that there is substantial room for further integration of China into global financial markets, especially in the case of the international bond market. A further successful liberalization of the Chinese bond market would encompass not only loosening...
Persistent link: https://www.econbiz.de/10011978420
We offer a new explanation for why taxes have become less redistributive in many countries in parallel with an increase in income concentration. When performance-based contracts are needed to incentivize effort, redistribution through progressive income taxes becomes less precisely targeted....
Persistent link: https://www.econbiz.de/10014458815
The relationship between market integration and the degree of specialization plays a key role in many areas of economics. In contrast to previous studies, we illustrate that globalization does not necessarily lead to specialization. The analysis is conducted in an extended Dixit-Stiglitz- Ethier...
Persistent link: https://www.econbiz.de/10010300141
The paper applies an index suggested by Jeffrey Frankel on how to measure the gap between the intensity of national versus international transactions of a country to more than 100 countries over four periods between 1990 and 2005. The gap stands for incomplete globalization. It is shown that the...
Persistent link: https://www.econbiz.de/10010283232