Search results for " economy."

Measuring Globalization of International Trade: Theory and Evidence

2009

Measuring globalization requires a Standard of Perfect International Integration as a benchmark that a single world space would reach under conditions of geographic neutrality in international trade. We define this standard and present indicators for openness, connectedness and integration, for each specific economy, and for the world economy. We apply our indicators to data on trade flows for 59 countries for the 1967-2004 period. Results show that trade integration is higher than what traditional openness indicators suggest. Several economies find high levels of integration, but the low degree of openness in some large economies jeopardizes the progress of globalization. © 2008 Elsevier L…

Skilled and unskilled wage differentials and economic integration, 1870-1930

2004

In this article we analyse the differences between the wages of skilled and unskilled workers in the period 1870–1930 for five countries with different levels of development and economic integration: the USA, France, the UK, Italy and Spain. We have constructed a ratio of skilled to unskilled wages (the skill premium) in the industrial sector for all these countries with the exception of the USA, for which data were already available. We study the impact of globalisation, technological and structural change and labour movements on the skill premium growth rate. The main conclusion we obtain is that the globalisation variables (migration and trade) explain only part of this growth. Technolog…

Migrants’ economic integration : problematising economic citizenship

2021

Labour market policies to include migrants in their host societies through strategic integration activities usually relate host country belonging to labour market success, commodifying citizenship. Labour market success, however, is not “belonging;” raising the question of whether “economic citizenship” is a misnomer. National citizenships embed territorial, social and ethnic hierarchies in unequal ways. Migrants at the moment of their mobility are outside these national solidarities, and thus are commodified, with their rights depending on their labour market value. Access to national citizenship rights is an important structuring element in segmenting globalizing labour markets. peerRevie…

The determinants of increasing equity market comovement: economic or financial integration?

2010

This paper investigates to what extent the substantial increase in exposures of local European equity market returns to global shocks is mainly due to a convergence in cash flows (“economic integration”), to a convergence in discount rates (“financial integration”), or to both. We find that this increased exposure is nearly entirely due to increasing discount-rate betas. This finding is robust to alternative ways of calculating discount-rate and cash-flow shocks.

New Nationalism and Higher Education

2020

This book closes with a discussion of new nationalism and the future of Finnish higher education from a language policies viewpoint, in the meeting points of the different national and global spheres. I will first discuss the nature of “new” nationalism. Then, the main discourses of educational, economic and epistemic nationalisms will be discussed. The next section presents global scenarios from the perspective of the intertwined nature of national and international. I will finish with a look into the future of Finnish higher education and the implications of current new nationalist trends for language policies, nationalism, alternate futures and the role of language in all this.

Economic conditions and populist radical right voting: The role of issue salience

2021

Contains fulltext : 245174.pdf (Publisher’s version ) (Open Access) In this article, we show with the European Election Study from nine Western European countries that issue salience of the economy and immigration contributes to our understanding of the puzzling relation between economic conditions and populist radical right support. In countries with relatively weak or worsening economic conditions, the economy is considered more salient, whereas immigration loses salience – also compared to other issues. Voters who perceive the economy as most important problem are less likely to opt for the populist radical right than people who perceive immigration or even other issues as most important…

1936. Frustrated Hopes: The Great Depression, the Second Republic and the Civil War

2020

The Great Depression was accompanied by the collapse of the monarchical regime and the establishment of a modern democracy with the Second Republic in April 1931. The new regime had to balance the importance of gaining domestic and international respectability (using orthodox fiscal and monetary policy) with efforts to shift towards a moderate protectionist policy, and enact land, labour and educational reforms. There were fierce confrontations from 1934 on, eventually culminating in a civil war in 1936. The consequences included a long-lasting impact on economic growth; autarky and interventionist policies; a huge loss of human capital; poverty and rising inequality; and a 40-year-long dic…

Successful turnarounds in bankrupt firms? Assessing retrenchment in the most severe form of crisis

2019

During economic downturns, firms file for bankruptcy in an effort to attempt a “turnaround.” The objective of this study is to assess the effectiveness of retrenchment strategies in the context of bankruptcy, as the most severe form of crisis. We conducted a longitudinal analysis of a sample of 868 bankrupt Spanish firms during the period 2004–2017. The empirical results show that stakeholder support and deep cost retrenchment increase the likelihood of survival and performance recovery, while aggressive layoffs are detrimental for turning bankrupt firms around. Surprisingly, intense asset retrenchment had no significant effects on firm survival and also pushed performance downward. The fi…

Green Versus Radical Right as the New Political Divide? The European Parliament Election 2019 in Germany

2020

The Prospects for the Social Economy in a Changing World

1997

Even if the ‘social economy’ has traditionally been marginalized and a subordinated form of production within capitalist societies, the economic, social, territorial and environmental problems of the present times have tended to make it a strategic instrument. This is not only because of its qualities as an economic and management instrument, but also because it is an expression of a dynamic and creative civil society. The aim of this paper is to show the potential of the social economy, the way it has been encapsulated during the postwar period and the conditions that now favour its full development. In the face of new challenges, the efficiency criterion, hitherto used to assess alternati…