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Globalization and income inequality : the role of transmission mechanisms

Hennighausen, Tanja - 2014

which globalization should influence the personal distribution of market and disposable incomes as well as redistribution. I … employ panel data covering 28 OECD countries between 1960 and 2010 to analyze the impact of globalization on a set of labor … industrialized countries. Rather, the globalization-induced rise in income dispersion through greater factor price differences is …

Persistent link: https://www.econbiz.de/10010354569

A Globalist Manifesto for Public Policy

Calomiris, Charles W. - 2011

The worldwide trend towards privatisation, liberalisation and globalisation has produced substantial economic benefits. Nevertheless, liberalisation has had its shortcomings and there are potential threats to further progress, including in particular an anti-liberalisation backlash. Continuing...

Persistent link: https://www.econbiz.de/10014026087

World-System Theory : A Sociopolitical Approach to Explain World Economic Development in a Capitalistic Economy

Coccia, Mario - 2019

This conceptual paper describes world-systems theory that is a socioeconomic and political approach that explains the economic development and dynamics of capitalistic world economy. In particular, this study clarifies international market trade, economic division of labor and other...

Persistent link: https://www.econbiz.de/10014108901

A New Market Paradigm for Sustainable Growth : Financing Broader Capital Ownership with Louis Kelso's Binary Economics

Ashford, Robert - 2011

This article describes how Louis Kelso's binary economics can be used to open the prevailing system of corporate finance to enable all people to access non-recourse corporate credit so as to enable them to acquire capital with the earnings of capital. In economies operating at less than full...

Persistent link: https://www.econbiz.de/10013128017

Binary Economics and the Case for Broader Ownership

Ashford, Robert - 2011

Binary economics simultaneously offers a paradigm for understanding economic efficiency, growth, and justice that is foundationally distinct from classical, neoclassical, Keynesian, and socialist economics. First proposed by Louis Kelso, binary economics also offers a prescription for...

Persistent link: https://www.econbiz.de/10014059874

Functional specialisation in global value chains and the middle-income trap

Stöllinger, Roman - 2019

The emergence of global value chains (GVCs) has opened up the possibility of functional specialisation as a new dimension of the international dimension of labour. Along with the usual gains from trade associated with specialisation according to comparative advantages, the functional...

Persistent link: https://www.econbiz.de/10012154255

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … wedges are fixed at their pre-globalization levels. We find that unbalanced financial globalization led to a worsening of …

Persistent link: https://www.econbiz.de/10014340224

FDI and unemployment, a growth perspective

Stepanok, Ignat - 2018

North-South foreign direct investment (FDI) is frequently viewed as a process in which jobs relocate from the North to the South. I build a growth model with two asymmetric trading economies, the North where firms innovate and the South where Northern firms invest to take advantage of lower...

Persistent link: https://www.econbiz.de/10011816895

A Quantitative Study on Endogenous Formation of Comparative Advantage in South Korea

Yoo, Dongwoo - 2017

This paper incorporates search friction and human capital accumulation into an international trade framework to analyze the endogenous formation of comparative advantage induced by long-term employment relationship. The calibrated model demonstrates that the long-term employment relationship, by...

Persistent link: https://www.econbiz.de/10012971734

International trade, intellectual property rights and the (un)employment of migrants

Guichard, Lucas; Stepanok, Ignat - 2021

We study the effect of trade liberalization and intellectual property rights (IPR) protection on the unemployment rate of migrants relative to non-migrants. We build a North-South trade and growth model with a positive steady state rate of migration. We find that bilateral trade liberalization...

Persistent link: https://www.econbiz.de/10012596968