I structured this study entitled “Multilateralism and regionalisation in the second half of XXth century”, in eight chapters. Each of the first seven chapters is dedicated to one of the main institution and events that played an important role in the world economy: the "Bretton Woods"...

Summary This paper examines whether political institutional improvement promotes financial development, using a panel dataset of 90 developed and developing countries over 1960-99. The empirical evidence reveals a positive effect of institutional improvement on financial development at least in...

Desde hace aproximadamente 25 años se considera que las empresas siguen un proceso de internacionalización gradual y en fases, de modo que las empresas van asumiendo mayor compromiso en los mercados extranjeros a medida que adquieren mayor conocimiento y experiencia. Sin embargo, las nuevas...

This paper studies the effects of international integration of capital markets in a world where countries differ in their labor market institutions: one country has a perfectly competitive labor market while the other is unionized. We show that workers should favor autarky in the unionized...

We consider a standard two—country environment, where one of the countries has rigid wages and unemployment, and analyze how factor markets’ integration affects the economy with respect to expectationsdriven fluctuations. We demonstrate that by allowing free capital mobility, indeterminacy...