Three Essays on Convergence and Cointegration of International Output Movements PDF Download

Author: Qing Li
Publisher:
ISBN:
Category : Convergence (Economics)
Languages : en
Pages : 158

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Author: Andrew Barnes Bernard
Publisher:
ISBN:
Category :
Languages : en
Pages : 316

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Author: Andrew B. Bernard
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 64

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This paper explores the convergence of real per capita output in advanced industrialized economies. We start by observing that in a stochastic environment. convergence in per capita GDP requires that permanent shocks to one econ~ be associated with permanent shocks to other economies. Convergence is a natural outcome, of models where exogenous technical change migrates across countries with similar microeconomic specifications. Conversely, in a world where some component of permanent output movements is due to technical change whereas other components are due to domestic factors. national economies may diverge over time. we formalize a general definition of convergence using the notions of unit roots and cointegration developed in the time series literature. We construct bivariate and multivariate tests of convergence across advanced industrialized economies. Our evidence indicates that one cannot reject the no convergence null. Further. the estimated time series representation of cross-country output deviations exhibits substantial persistence. These results suggest that previous empirical work on convergence has neglected some aspects of the null hypothesis.

Author: G. S. Maddala
Publisher: Cambridge University Press
ISBN: 9780521587822
Category : Business & Economics
Languages : en
Pages : 528

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A comprehensive review of unit roots, cointegration and structural change from a best-selling author.

Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 460

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Author: Thomas Osang
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 248

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Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226065995
Category : Business & Economics
Languages : en
Pages : 600

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As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.

Author: Luis Serven
Publisher: World Bank Publications
ISBN: 0821383744
Category : Political Science
Languages : en
Pages : 432

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Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.

Author: Maurice Obstfeld
Publisher: Cambridge University Press
ISBN: 9780521671798
Category : Business & Economics
Languages : en
Pages : 386

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This book is an economic survey of international capital mobility from the late nineteenth century to the present.

Author: Nagwa Riad
Publisher: International Monetary Fund
ISBN: 1463973101
Category : Business & Economics
Languages : en
Pages : 87

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Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.