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2014

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Articles 1 - 30 of 154

Full-Text Articles in International Economics

Current Account “Core-Periphery Dualism” In The Emu, Tatiana Cesaroni, Roberta De Santis Dec 2014

Current Account “Core-Periphery Dualism” In The Emu, Tatiana Cesaroni, Roberta De Santis

Roberta De Santis

Current account (CA) dispersion within European Union (EU) member states has been increasing progressively since the 1990s. Interestingly, the persistent deficits in many peripheral countries have not been accompanied by a significant growth process able to stimulate a log run rebalancing as neoclassical theory predicts. To shed light on the issue this paper investigates the determinants of Eurozone CA imbalances, focusing on the role played by financial integration. The analysis considers two samples of 22 OECD and 15 EU countries, three time horizons corresponding to various steps in European integration, different control variables and several panel econometric methods. The results ...


China-Based Industrial Espionage, Joel Savary Dec 2014

China-Based Industrial Espionage, Joel Savary

Student Scholar Symposium Abstracts and Posters

On Oct 8, 2014 China has surpassed the United States as the world’s largest economy in terms of Purchasing Power Parity (PPP)” (IMF). My paper explores one of the instances of unlawful business practices that have contributed to China’s new world position. China based espionage undercuts American businesses and U.S. foreign policy directly, causing catastrophic economic implications for America, its businesses, and its allies. The U.S. government is grappling with the means and methods China uses to disseminate information stolen from U.S. businesses to support China based industries. Due to the lack of transparency in ...


The Marriage Market: The Mail-Order Bride Industry In The United States!, Penelope Burner Dec 2014

The Marriage Market: The Mail-Order Bride Industry In The United States!, Penelope Burner

Student Scholar Symposium Abstracts and Posters

The international bride market has generated more than 2 billion dollars in 2010 in the United States alone. The concept of a “mail-order bride” is one that dates back to the founding of the United States. Many people believe this practice to be antiquated, but with the addition of technology, this industry has become very prevalent in modern society. I will examine the effects the mail order bride industry has had on views regarding women in the United States, Asia and Europe and show how this industry still has relevance today. I will track the way this industry has shaped ...


Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low Dec 2014

Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low

Stephen Joseph Powell

While scholars and governments alike view the liberalization of international trade as a positive development, they disagree on the medium that will accomplish this objective with the highest economic returns. Some experts believe that multilateralism through the 150+ member World Trade Organization (WTO) is the only way to achieve truly open and efficient trade. Others view multilateralism as but an aspiration and find that regionalism offers the only viable prospect for the meaningful further opening of markets. In light of what we label the "new regionalism," our paper explores in detail the positive and negative effects of regional trade arrangements ...


Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant Dec 2014

Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant

James L. Grant

This manuscript attempts to capture the perspectives of emerging managers and public policy makers as evinced in the perspectives of graduate students and others who were enrolled in my newly developed course on the global financial crisis—first offered in the 2010 Harvard Summer Economics Program—at a time when students were engaged in the midst and aftermath of the most severe U.S. and worldwide recession since the Great Depression of the early 1930s. The many perspectives gathered on the causes, consequences, remedies, and perhaps more importantly, a glimpse at student thoughts, concerns, and worries at the time—have ...


Techniques, Technologies And Politics Of Crisis And Post-Crisis Economics: Anglo-American Macroeconomics And Alternatives, Jeffrey K. Hass Dec 2014

Techniques, Technologies And Politics Of Crisis And Post-Crisis Economics: Anglo-American Macroeconomics And Alternatives, Jeffrey K. Hass

Sociology and Anthropology Faculty Publications

This paper attempts a critical appraisal of one core debate and theories in economics about the 2008 crisis and post-2008 economic growth and stagnation. In addition to examining formal publications, this essay also examines serious blogs by high-profile economists who are core participants in public discourse over economic policy. Drawing on the general logic of economic sociology and political economy — in particular, an appreciation for more complex microfoundations of economic practice (e.g. power and culture) and institutions—this paper addresses three issues about theoretical frameworks and claims about post-crisis growth or lack thereof: 1) Techniques: economists’ discourses focus primarily ...


Two Essays On Governance At The National And Corporate Level, Laura Savory Miller Dec 2014

Two Essays On Governance At The National And Corporate Level, Laura Savory Miller

HCBE Theses and Dissertations

ESSAY 1
We examine the effect of governance environment on the composition of a country's external capital structure, specifically foreign equity investment. In addition to the absolute quality of the host country's governance environment, we consider the host country's governance quality relative to that of the source (investor) country. Unlike previous studies, which utilize country totals, we examine foreign investment positions between pairs of individual countries. Our sample includes 3,891 bilateral investment positions among 49 source countries and 69 host countries for years 2009 through 2011. We find that relative governance, rather than absolute governance, plays ...


Eu-China Economic Relations: Interactions And Barriers, Zheng Lu Nov 2014

Eu-China Economic Relations: Interactions And Barriers, Zheng Lu

Zheng Lu (Chinese: 路征)

EU-China economic interactions became more and more frequent in the past decades, nowadays EU and China are main trade partner for each other. This paper analyzed EU-China economic interactions from three dimensions: bilateral governmental interactions, trade and investment flows as well as barriers to trade and investment. Findings show that EU-China close relationship is particularly based on goods trade especially on intra-industrial trade of manufacturing industrial products, and trade imbalance is arising from trade in Machinery and Transport Equipment and Other Manufactured Goods (e.g., Clothing and clothing accessories); This paper also found that there exist a myriad of trade ...


Contribution Of Foreign Direct Investment To Economic Growth In Bangladesh, Mohammed Abu Rayhan Nov 2014

Contribution Of Foreign Direct Investment To Economic Growth In Bangladesh, Mohammed Abu Rayhan

Masters Theses

Rapid industrialization is essential in Bangladesh to keep pace with its development needs. But the low rate of gross domestic savings and investment as well as low level of technology base hamper the expected industrialization process. Foreign aid and grant had been serving to bridge the gap earlier. As many developing countries are in the process of graduating from being aid-dependent economy into a trading economy, FDI has come to be viewed as a major stimulus to economic growth for these emerging economies. This paper examines the contribution of FDI to economic growth in Bangladesh over the period from 1975 ...


Integration Of Central And Eastern European And The Euro-Area Financial Markets: Repercussions From The Global Financial Crisis, Lucjan T. Orlowski, Anna Tsibulina Nov 2014

Integration Of Central And Eastern European And The Euro-Area Financial Markets: Repercussions From The Global Financial Crisis, Lucjan T. Orlowski, Anna Tsibulina

Lucjan T. Orlowski

We examine integration of financial markets and banking sectors in Central and Eastern Europe and the euro area. We study co-movements between government bond and equity markets of Germany and those of Poland, Czech Republic, Hungary, as well as Slovenia and Slovakia (the two recent euro members). We assume that financial integration is essential for subsequent monetary convergence, as it will enable the euro candidates to mitigate systemic risk and avert potentially destabilizing shocks. Government bond yields of the Czech Republic and Poland show high correlation with German yields, in contrast to those of the remaining countries. Equity returns of ...


A Dynamic Approach To Inflation Targeting In Transition Economies, Lucjan T. Orlowski Nov 2014

A Dynamic Approach To Inflation Targeting In Transition Economies, Lucjan T. Orlowski

Lucjan T. Orlowski

This study views inflation targeting as a viable monetary regime for more advanced transition economies. A dynamic approach to the trajectory of disinflation and to the flexibility of direct inflation targeting is presented in the context of achieving monetary convergence to the EU/AMU. The candidate countries are advised to begin from strict inflation targeting and to follow with a more flexible inflation targeting regime before they establish a necessary ‘foundational credibility’ and monetary stability. These steps, ultimately followed by a euro-peg, are necessary in preparing for accession to the eurozone. The early experiences of the Czech Republic and Poland ...


The Impact Of An Eu-Us Transatlantic Trade And Investment Partnership Agreement On Biofuel And Feedstock Markets, John C. Beghin, Jean-Christophe Bureau, Alexandre Gohin Nov 2014

The Impact Of An Eu-Us Transatlantic Trade And Investment Partnership Agreement On Biofuel And Feedstock Markets, John C. Beghin, Jean-Christophe Bureau, Alexandre Gohin

CARD Working Papers

We assess the impact of a potential TTIP bilateral free trade agreement on the EU and US bio-economies (feedstock, biofuels, by-products, and related competing crops) and major trade partners in these markets. The analysis develops a multi-market model that incorporates bilateral trade flows (US to EU, EU to US, and similarly with third countries) and is calibrated to OECD-FAO baseline for 2013–2022 to account for recent policy decisions. The major policy reforms from a TTIP involve tariff and TRQ liberalization and their direct contractionary impact on US sugar supply, EU biofuel production, and indirect negative effect on US HFCS ...


Allocative Efficiency, Mark-Ups, And The Welfare Gains From Trade, Wen-Tai Hsu, Thomas J. Holmes, Sanghoon Lee Nov 2014

Allocative Efficiency, Mark-Ups, And The Welfare Gains From Trade, Wen-Tai Hsu, Thomas J. Holmes, Sanghoon Lee

Research Collection School Of Economics

This paper develops an index of allocative efficiency that depends upon the distribution of mark-ups across goods and is separable from an index of standard Ricardian gains from trade. It determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing the effect into the cost-change channel and the price-change channel. Formulas are derived shedding light on the signs and magnitudes of the two channels. In symmetric country models, trade tends to increase allocative efficiency through the cost-change channel, yielding a welfare benefit beyond productive efficiency gains. In contrast, the price-change channel has ambiguous ...


Rethinking The Development Of The Automobile Industry In China, Chen Gu Nov 2014

Rethinking The Development Of The Automobile Industry In China, Chen Gu

Electronic Theses and Dissertations

Governmental industrial policies have significant influence on industrial performance. Many developing countries that lack capital and a good technology base use foreign direct investment (FDI)-dependent governmental policies to induce multinational corporations (MNCs) to invest in their indigenous immature industries. In this article, the Chinese automotive industry, which is regulated directly under the Chinese central government, is used to illustrate the interactions between the complex FDI-dependent governmental policies and the industrial development of developing countries. According to changes in Chinese automotive industry policy, the Chinese auto industry’s development process is divided into four phases: extremely passive FDIdependent policy phase ...


Implications Of Export Competitiveness And Performance Of Textile And Clothing Sector Of Pakistan: Pre And Post Quota Analysis, Nawaz Ahmad Oct 2014

Implications Of Export Competitiveness And Performance Of Textile And Clothing Sector Of Pakistan: Pre And Post Quota Analysis, Nawaz Ahmad

Nawaz Ahmad

Textile and Clothing sector of Pakistan has been facing different international trade reforms i.e. Multi-fiber Arrangements, Quota elimination and for some of the developing countries European union, introduced special trade arrangements like GSP plus to improve their balance of trade conditions. In the light of pre quota elimination and post quota elimination periods, this paper highlights trade performance of textile and clothing sector in depth. This study focused on finding the extent of revealed comparative advantage of textile and revealed comparative advantage of clothing sector on overall textile and clothing trade performance of Pakistan. For this purpose study applied ...


Mexico Consensus Economic Forecast, Volume 17, Number 4, Thomas M. Fullerton Jr., Adam G. Walke Oct 2014

Mexico Consensus Economic Forecast, Volume 17, Number 4, Thomas M. Fullerton Jr., Adam G. Walke

Departmental Papers (E & F)

No abstract provided.


Complementarity In Institutional Quality In Bilateral Fdi Flows, Pao Li Chang Oct 2014

Complementarity In Institutional Quality In Bilateral Fdi Flows, Pao Li Chang

Research Collection School Of Economics

This paper develops a theory on the complementarity in institutional qualities between the home and host countries in bilateral FDI. Firms ‘born’ in countries with poorer institutions tend to invest more in informal institutions to mitigate political risk. The marginal advantage of higher informal institution endowment is bigger when the political risk at the FDI destination is higher. Thus, all else being equal, the ranking of the MNE’s home institutions predicts the ranking of the institutional qualities of their FDI destinations. I find robust empirical evidence for this theoretical prediction using bilateral FDI for 219 economies during year 2001-2010.


Cosmopolitanism And Global Justice: A Review Essay Of Cosmopolitan Regard By Richard Vernon, Tiana-Renée C. Silva Sep 2014

Cosmopolitanism And Global Justice: A Review Essay Of Cosmopolitan Regard By Richard Vernon, Tiana-Renée C. Silva

e-Research: A Journal of Undergraduate Work

While geologists may not be able to find physical proof to suggest that the world is shrinking, social scientists are convinced that this is the case. The amount of information that is shared amongst the world's citizens has grown exponentially over the years, and evidence of an increasingly interconnected world can be seen in every facet of our everyday lives from the food we eat to what we watch on television. Thousands of miles that once divided us from one another are now eliminated by telephones, the Internet, and even the ability to make telephone calls over the Internet ...


Globalization And Development In Latin America And The Caribbean: A Review, Diego José Romero Sep 2014

Globalization And Development In Latin America And The Caribbean: A Review, Diego José Romero

e-Research: A Journal of Undergraduate Work

Globalization and Development: A Latin American and Caribbean Perspective (2003) is a study of the process of globalization in the economic, political and cultural spheres, focusing mainly on the economic developments. Understanding the process as being multidimensional in nature, the authors, José Antonio Ocampo and Juan Martin, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) and the Special Advisor to the Executive Secretary respectively[i], analyze globalization as a historic event realized in three well-differentiated phases, which prove, that it is not an irreversible process. The authors define globalization as "the growing influence exerted ...


Alienated Politics: Labour Insurgency And The Paternalistic State In China, Eli D. Friedman Sep 2014

Alienated Politics: Labour Insurgency And The Paternalistic State In China, Eli D. Friedman

Articles and Chapters

Is there a labour movement in China? This contribution argues that China does not have a labour movement, but that contestation between workers, state and capital is best characterized as a form of ‘alienated politics’. Widespread worker resistance is highly effective at the level of the firm be-cause of its ability to inflict losses on capital and disrupt public order. But authoritarian politics in China prevent workers from formulating political demands. Despite the spectacular repressive capacity of the state, the central government has in fact responded to highly localized resistance by passing generally pro-labour legislation over the past decade. The ...


Notes On The Policy Seminar On Inequality And Development, Held On The 26th Of September 2014 At The Ministry Of Foreign Affairs Of Finland, J. G. A. Saviranta Sep 2014

Notes On The Policy Seminar On Inequality And Development, Held On The 26th Of September 2014 At The Ministry Of Foreign Affairs Of Finland, J. G. A. Saviranta

Akseli Saviranta

The following document presents summarised key notes from the United Nations University – World Institute for Development Economics Research (UNU-WIDER) policy seminar titled “Inequality and Development – Trends and Policies”. This policy seminar represented a follow-up to a prior two-day conference organised earlier in the same month by the same institute, in which the author has participated as well.


Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou Sep 2014

Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou

Research Collection School Of Economics

This paper studies whether changes in the exchange rate affect a country’s export structure, using an arguably exogenous sudden appreciation of renminbi on July 21, 2005 as the main source of identification. Employing combined regression discontinuity and difference-in-differences approach, we show that China’s export structure became more similar to that of the developed countries after the currency appreciation. We also find that the majority of the appreciation effect comes from the inter-firm resource reallocation rather than the inter-region or intra-firm resource reallocation.


Output Fluctuations And Economic Growth In Latin America In The Aftermath Of The Great Recession, Gonzalo Hernandez Jimenez Sep 2014

Output Fluctuations And Economic Growth In Latin America In The Aftermath Of The Great Recession, Gonzalo Hernandez Jimenez

Doctoral Dissertations

This dissertation examines the short and long run effects of the Great Recession on Latin America. For the short run, this study evaluates (i) the existence of a business cycle co-movement between the US and Latin America, (ii) the role of the Latin American export structure as an aspect that may amplify the growth spillover effects of the output fluctuations in the US, and (iii) the terms of trade as a determinant of the short run output fluctuations in Colombia, a primary commodity exporter that resembles the assumptions of open small dependent economies. Consistent with the historical evidence, the US ...


Integration Of Central And Eastern European And The Euro-Area Financial Markets: Repercussions From The Global Financial Crisis, Lucjan T. Orlowski, Anna Tsibulina Sep 2014

Integration Of Central And Eastern European And The Euro-Area Financial Markets: Repercussions From The Global Financial Crisis, Lucjan T. Orlowski, Anna Tsibulina

WCBT Faculty Publications

We examine integration of financial markets and banking sectors in Central and Eastern Europe and the euro area. We study co-movements between government bond and equity markets of Germany and those of Poland, Czech Republic, Hungary, as well as Slovenia and Slovakia (the two recent euro members). We assume that financial integration is essential for subsequent monetary convergence, as it will enable the euro candidates to mitigate systemic risk and avert potentially destabilizing shocks. Government bond yields of the Czech Republic and Poland show high correlation with German yields, in contrast to those of the remaining countries. Equity returns of ...


Network Analysis Of World Trade Using The Baci-Cepii Dataset, Luca De Benedictis, Silvia Nenci, Gianluca Santoni, Lucia Tajoli, Claudio Vicarelli Aug 2014

Network Analysis Of World Trade Using The Baci-Cepii Dataset, Luca De Benedictis, Silvia Nenci, Gianluca Santoni, Lucia Tajoli, Claudio Vicarelli

Luca De Benedictis

In this paper we explore the BACI-CEPII database using Network Analysis. Starting from the visualization of the World Trade Network, we then define and describe the topology of the network, both in its binary version and in its weighted version, calculating and discussing some of the commonly used network’s statistics. We finally discuss some specific topic that can be studied using Network Analysis and International Trade data, both at the aggregated and sectoral level. The analysis is done using multiple software (Stata, R, and Pajek). The scripts to replicate part of the analysis are included in the appendix, and ...


Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant Aug 2014

Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant

Financial Services Forum Publications

This manuscript attempts to capture the perspectives of emerging managers and public policy makers as evinced in the perspectives of graduate students and others who were enrolled in my newly developed course on the global financial crisis—first offered in the 2010 Harvard Summer Economics Program—at a time when students were engaged in the midst and aftermath of the most severe U.S. and worldwide recession since the Great Depression of the early 1930s. The many perspectives gathered on the causes, consequences, remedies, and perhaps more importantly, a glimpse at student thoughts, concerns, and worries at the time—have ...


The Gap Between Science And Policy: Assessing The Use Of Nonmarket Valuation In Estuarine Management, Judith T. Kildow Dr, Jing Guo Aug 2014

The Gap Between Science And Policy: Assessing The Use Of Nonmarket Valuation In Estuarine Management, Judith T. Kildow Dr, Jing Guo

Working Papers

Estuaries, which are among the most productive natural systems on earth, provide an array of human welfare benefits if well managed. Non-market valuation (NMV) is considered a powerful tool, which can contribute to informed policies for estuarine management. More than 30 year of research valuing estuaries around the world does not appear to have had a major impact on estuarine management. Published examples of policy applications using estimates from these studies, are rare, leading to the question whether the effort and money spent on this research has been useful and worth the cost.

Despite raising public awareness of the importance ...


The Role Of The International Monetary Funds (Imf) In The East Asian Debt Crisis Of 1997, Yaro Sadek Tahirou Aug 2014

The Role Of The International Monetary Funds (Imf) In The East Asian Debt Crisis Of 1997, Yaro Sadek Tahirou

Journal of Undergraduate Research at Minnesota State University, Mankato

During the East Asian Financial crisis in particular, the IMF has been criticized of promoting international cooperation because of the supervised enforcement of its rules. The purpose of this research is to find out how the IMF responded to the East Asian debt crisis and whether or not its responses were the best possible responses to this crisis. Through my research, I talked about the causes of the East Asian financial crisis, the role of the IMF in the international monetary system, and if the IMF responses to Thailand, South Korea and Indonesia were the best responses or not. After ...


Women’S Empowerment And Community-Driven Development: Evidence From The Solomon Islands, Erin M. Steffen Aug 2014

Women’S Empowerment And Community-Driven Development: Evidence From The Solomon Islands, Erin M. Steffen

Erin M Steffen

The study evaluates the impact to-date of a community-driven development (CDD) program on women’s empowerment in the Solomon Islands. Originally launched in 2008, the CDD program is known as the Rural Development Program (RDP). The RDP aims to foster employment and income growth by focusing on participatory development, demand-responsive provisions of government services, and the creation of a supportive economic environment for small-scale rural development. The RDP process mandates female involvement, which manifests predominately in the selection of community infrastructure projects and by participation in a RDP subcommittee known as the Sub-Implementation Committee (SIC). Members of the SIC are ...


Reducing Global Carbon: Creating An American Policy, Cameron Otsuka Aug 2014

Reducing Global Carbon: Creating An American Policy, Cameron Otsuka

Economics Theses

The United Nations Intergovernmental Panel on Climate Change’s (IPCC) first assessment report, released in 1990, calculated that carbon dioxide (CO2) emissions had been responsible for more than half of the greenhouse gas effect. As of 2006, the United States, China, and European Union (EU) consume 56% of global CO2 emissions (Brinkley & Less, 2010). Figure 1, below, shows that CO2 levels have continued to rise at basically the same rate since before the 1960s (Tans & Keeling). 23 years later, on September 27, 2013, the IPCC released its fifth assessment report, concluding that climate change is the result of human activity ...