Economic integration
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Most cited papers in Economic integration
This article outlines a framework for the analysis of economic integration and its relation to the asymmetries of economic and social development. Consciously breaking with state-centric forms of social science, it argues for a research... more
A new data set of on openness indicators and trade liberalization dates allows the 1995 Sachs and Warner study on the relationship between trade openness and economic growth to be extended to the 1990s. New evidence on the time paths of... more
In a world of trade restrictions, large countries enjoy economic benefits, because political boundaries determine the size of the market. Under free trade and global markets even relatively small cultural, linguistic or ethnic groups can... more
In the United States, many industries have a Silicon Valley-type geographic localization.
We thank Ibbotson Associates for providing data. We thank George Hall for suggesting sources of WWI data. We thank seminar participants at the Stockholm School of Economics and Yale School of Management for suggestions. We thank the... more
This paper reviews the theoretical functions, history, and policy problems raised by the international capital market. The goal is to offer a perspective on both the considerable advantages the market offers and on the genuine hazards it... more
The effect of economic globalization on the number of transnational terrorist incidents within countries is analyzed statistically, using a sample of 112 countries from 1975 to 1997. Results show that trade, foreign direct investment... more
We show empirically that regions with a more specialized production structure exhibit output fluctuations that are less correlated with those of other regions (less 'symmetric' fluctuations). Combined with the causal relation running from... more
This paper investigates the determinants of the pattern of banks' foreign investment. We extended previous analyses in three directions. First, we use a unique database that includes information on 260 large banks from OECD countries... more
We develop a dynamic factor model with time-varying factor loadings and stochastic volatility in both the latent factors and idiosyncratic components. We apply this novel measurement tool to study the evolution of international business... more
We combine data on international trade linkages with network methods to examine the global trading system as an interdependent complex network. We map the topology of the international trade network, and suggest new network-based measures... more
• JEL classification: F41
TThis paper investigates which factors determine a bank's decision to expand its activities abroad and what determines its choice of the countries to invest in. The empirical analysis is conducted using firm-level data on foreign... more
Agro-silvopastoral land-use has a long tradition throughout Europe. Depending on the region, wood-pasture occurs as vanishing relic of historical land-use, or still more or less widespread as multiple-use rangeland. A new development is... more
This paper examines the dynamic relationship between daily stock and government bond returns of selected countries over the past decade to infer the state and progress of interfinancial market integration. We proceed to empirically... more
We propose a simple to implement panel data method to evaluate the impacts of social policy. The basic idea is to exploit the dependence among cross-sectional units to construct the counterfactuals. The cross-sectional correlations are... more
This paper develops an empirical model of the crosscountry variation in bilateral output growth correlations for 17 OECD countries. Consideration is given to the role played by explicit mechanisms for transmitting shocks between... more
What Determines the Economic Geography of Europe?* This paper focuses on what the driving forces behind industry localization in Europe are. Based on traditional as well as new trade theory and new economic geography our cross-sectoral... more
Context: Hospital-physician relationships (HPRs) are an important area of academic research, given their impact on hospitals' financial success. HPRs also are at the center of several federal policy proposals such as gain sharing, bundled... more
Major issues of regional economic integration in Africa could be grouped into two interrelated broad areas: issues of implementation and the limitation of insight form both the theoretical and empirical literature regarding the specific... more
How does migration contribute to the urbanisation process in Africa? Migrants have traditionally been viewed as responsible for excessive urban growth, for the uncontrolled expansion of urban areas and for urban surplus labour. In light... more
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trade liberalization within the Great Lakes region. The results reflect the liberalization of tari¤ and non-tari¤ barriers, their trade and production impacts, state-level shares in the production changes, and the resulting industrial... more
The Dutch welfare state is under pressure. Future trends of ageing and globalisation render public finances unsustainable and worsen the position of low-skilled workers on the labour market. At the same time, welfare state institutions... more
In the paper monthly realized moments for stock market returns for the US, the UK, Germany and Japan are employed to assess the linkages holding across moments and markets over the period 1973-2004. In the light of the theoretical... more
The evolution of the Indian software sector is explained by the larger context of uneven and combined development. The imperatives of a market-driven global order suggest an open-ended process of development, making some economic and... more
We study the impact of falling international trade costs and falling national transport costs on the economic geography of countries involved in an integration process. Each country is formed by two regions between which labor is mobile,... more
Understanding Europeanization through its instrumentation raises the issue of the supposed neutrality of policy tools used as soft modes of action. The aim of this article is to assess how this 'new governance' tends to guide... more
Using daily returns from 1988 through 1999 for Argentina, Brazil, Chile, Mexico, and Canada, and from 1993 to 1999 for Colombia, Peru and Venezuela, we investigate to what degree these equity markets are integrated with the US equity... more
After a long period of industrialization based on import substitution (ISI), Mexico started to open up its economy by accessing the General Agreement on Tariffs and Trade (GATT) in 1986. The exportpromotion strategy was transformed into... more