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We study two aspects of globalization. It allows a decision-maker to go beyond his own local experience and to learn … conditions under which the globalization of markets helps or hurts (i) the communication among decision-makers about their own …
Persistent link: https://www.econbiz.de/10008838554
Economic historians have stressed that income convergence was a key feature of the OECD-club and that globalization was … divergence. Therefore, history does not seem to provide unambiguous evidence about globalization and convergence. …
Persistent link: https://www.econbiz.de/10008839258
We document external investment positions among European Union countries at the start of the financial crisis through the creation of a new database comprising bilateral external financial asset and liabilities, excluding reserve assets and derivatives. While there are some gaps in the data, the...
Persistent link: https://www.econbiz.de/10008839331
Using panel regression for the period 1970-2000 the paper analyzes whether globalization has influenced the OECD … potential endogeneity of the regressors, the results show that globalization (measured by an index covering 23 variables) did … not decrease the leeway for independent economic policy. Globalization even increased implicit tax rates on capital – a …
Persistent link: https://www.econbiz.de/10008852356
, globalization has become a normal component of the existence of each of us through the goods and services purchased through the …
Persistent link: https://www.econbiz.de/10008852594
This paper exploits cross-country variation in the degree of geographical isolation, prior to the advent of sea-faring and airborne transportation technologies, to examine its impact on the course of economic development across the globe. The empirical investigation establishes that prehistoric...
Persistent link: https://www.econbiz.de/10008852799