Search results for "World economy"
showing 6 items of 16 documents
Fault Lines: how hidden fractures still threaten the World Economy
2017
¿Por qué sucede la crisis económica de 2008? ¿fue provocada por los Estados Unidos como una estrategia expansionista o una simple falla del sistema capitalista? En perspectiva, el mundo de las relaciones productivas impacta sobre el social y viceversa. No es extraño observar el interés de las ciencias sociales por el estudio del riesgo en los últimos años. Para los especialistas, el riesgo se corresponde con la probabilidad de sufrir algún daño a futuro...
Mihail Manoilescu, A Researcher Who Tipped the Development and International Trade Theory: Sketch Portrait
2020
Who was Mihail Manoilescu? What are the main dimensions of his scientific work? How did the researcher tilt the industrial development theory, that specializes in international trade, according to David Ricardo’s theory of comparative costs and the H.O.S. theory? What was his place in the world economy? What current significations may one find in Manoilescu’s theses? Here are questions that these lines are designed to answer sketching a portrait of the Romanian economist.
Emerging Markets and the Global Financial Crisis
2010
Over the 1990s, crises developed in emerging markets and, while they did send shockwaves across the world, their effects were perceived mostly by other emerging markets.1 The domestic and international policy recommendations that followed focused on strategies to reduce this instability, seen as a threat to the world economy. At the end of the 2000s, the world seems to have gone upside down. The 2008/2009 global financial crisis started earlier in 2007 with a sharp rise in defaults on sub-prime mortgages in one of the most advanced nations, the US, and quickly spread through the interbank market to become an international credit and liquidity squeeze. The credit crisis involved other indust…
Patterns of international capital flows and their implications for developing countries
2017
According to standard economic theory, capital should flow from rich to poor countries. However, a reverse pattern has prevailed in the world economy. This is the so-called Lucas paradox. In addition, it has been shown that, counterintuitively, there is a negative correlation between capital inflow and productivity growth across developing countries. This is the so-called allocation puzzle. This review sheds light on the following questions: “What are the patterns of international capital flows in the world economy?”, “What are the most plausible explanations for these patterns?”, and “What are the possible implications of these developments for developing countries?” In addition, the curre…
Conventional Theory’s Relevance: Evidence from Japan
2019
Abstract The formidable surge in the volume of international trade after 1960 stimulated surveys designed to ascertain to what degree the commercial flows among nations reflected the structure of their economies, in other words, how tight was the correlation between international exchanges and the specific attributes of participating nations. In fact, scholars were keen to test the relevance of the conventional Heckscher-Ohlin theory, that is, to what extent did nations’ exports reflect their endowment with factors of production, more specifically, whether their exports used their abundant factors intensively. I try to show that, although most of the tests reached their purpose in that they…
Economic Globalization: From Microeconomic Foundation to National Determinants
2015
Abstract For many years, globalization was at the main source of economic growth for the world economy. During and after the 2009 crisis many questions about the positive effects of globalization have arisen. In this paper we argue there are two dimensions of economic globalization, micro and macro, and the perspectives of globalization is more related to the microeconomic determinants. Looking to the definitions and measures of globalization we conclude that for most of the countries the macro dimensions are important and many of them irreversible and not questionable in these days – barriers of trade, political integration, etc., but the microeconomic behavior of individuals and companies…