Search results for "Liberal"
showing 10 items of 650 documents
Stefano Fenoaltea, Reconstructing the Past. Revised Estimates of Italy’s Product, 1861-1913, Fondazione Luigi Einaudi, Turin, 2020
2021
Regional Inequality in Latin America: Does It Mirror the European Pattern?
2020
The aim of this chapter is to analyse the comparative evolution of regional inequality over the course of the historical economic development processes in four countries of South West Europe—France, Italy, Portugal and Spain—and nine countries of Latin America: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Venezuela. Our analysis, which goes back to the nineteenth century, shows that regional income inequality has followed over time what appears now to be an N-shaped evolution in both regions. However, both experiences differ markedly and we identify the main stylized facts of these trajectories. First, Latin America begun the period with higher levels of regional i…
On the African Continental Free Trade Area
2021
Africa-wide integration projects have competed with step-wise regional integration since independence. This chapter examines the new project of an African Continental Free Trade Area (AfCFTA). The project’s potential to become an economic game-changer for Africa is analysed alongside the likely pitfalls of the arrangement. We conclude that while a well-staged AfCFTA can resolve a number of critical issues associated with intra-African integration, it cannot replace existing RECs, especially not with respect to negotiating extra-regional trade agreements. It is argued that to avoid undercutting the entire process, the entrenched logic of exceptions and exclusions from tariff liberalization m…
The Reality of African Trade Integration—Challenges of Implementation
2021
In the course of their evolution on the stylized path of economic integration, African RECs face a number of implementation challenges, beginning with a range of typical domestication issues for trade agreements. A fundamental problem is that African regional trade arrangements (RTA) are all based on two GATT/WHO clauses which do not require full internal liberalization. The chapter analyses how RTA implementation on this basis has led to a general logic of exclusions and exemptions in Africa’s trade relations and traces how entrenched empirical practice meant to serve developmental purposes—protection of the weakest economic actors—often caters to vested interests. Inconsistency is aggrava…
The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data
2018
We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flowsâfinancial globalization. Both country- and industry-level results suggest that such policies have led on average to limited output gains while contributing to significant increases in inequalityâthat is, they pose an equityâefficiency trade-off. Behind this average lies considerable heterogeneity in effects depending on country characteristics. Liberalization increases output in countries with high financial depth and those that avoid financial crises, while distributional effects are more pronounced in countries with low financial depth and inclusion and where libera…
Financial Globalization, Fiscal Policies and the Distribution of Income
2020
This paper provides evidence that financial globalization—liberalization of the capital account—makes income distribution more uneven by raising the share of income that goes to the richest income deciles. We also offer evidence that changes in domestic fiscal policies in the aftermath of financial globalization are one channel through which these distributional effects could occur. Specifically, we show that episodes of capital account liberalization are followed by greater fiscal consolidation and reduced fiscal redistribution, both of which lead to increased inequality.
El sector no lucrativo en el marco de la nueva era tecnológica: el desafío del Crowdfunding social en España. Análisis del caso de la asociación Alba…
2017
Los albores del siglo XXI se presentan a las economías y las sociedades en el marco de un desafiante doble cambio de paradigma. Uno, alentado por el neoliberalismo gobernante en gran parte del mundo avanzado, que ha provocado que la propia sociedad admita la arresponsabilidad de las estructuras gobernantes en la prestación de los servicios que componen el Estado del bienestar. Otro, tecnológico, que ha cambiado el modo en que la sociedad se informa, se comunica y se relaciona. Frente a estas dos realidades la sociedad civil ha tomado conciencia de su papel transformador e impulsor de cambios, así como de las crecientes necesidades de atención social que han surgido en este principio de sigl…
Deregulation, liberalization and consolidation of the Mexican banking system: Effects on competition
2011
Este articulo analiza la evolucion de la competencia en el sistema bancario Mexicano en el periodo 1993-2005, periodo de desregulacion, liberalizacion y consolidacion del sector. Para ello se utilizan dos medidas de competencia derivadas de la teoria de la Organizacion Industrial: el indice de Lerner y el estadistico H de Panzar y Rosse. La evidencia empirica no permite rechazar la existencia de competencia monopolistica. El indice de Lerner muestra una disminucion en la rivalidad competitiva en el mercado de los depositos y un incremento en el mercado de los prestamos, observandose una estrategia de subsidiacion cruzada entre ambos mercados. Los resultados obtenidos cuestionan la efectivid…
Thinking through Transition. Liberal Democracy, Authoritarian Pasts, and Intellectual History in East Central Europe after 1989
2017
National Preferences and the European Union Presidency: The Case of German Energy Policy towards Russia*
2011
This article analyses the formation and development of Member State preferences and positions before and during the European Union (EU) Presidency term. The empirical analysis focuses on the Federal Republic of Germany's policy concerning EU–Russian relations, especially regarding energy policy. The extent to which liberal intergovernmentalism (LI) furthers our understanding of state behaviour in the context of the EU Presidency is questioned. The findings suggest that LI adequately explains the formation of German positions prior to assuming office, as its policy objectives are chiefly influenced by domestic producers' interests. However, LI cannot satisfactorily account for German governm…