The post-crises output growth effects in a globalized economy
| Autor: | Jean-Baptiste Hasse, Jing Lu, Bertrand Candelon, Alina Carare |
|---|---|
| Přispěvatelé: | UCL - SSH/LIDAM - Louvain Institute of Data Analysis and Modeling in economics and statistics |
| Rok vydání: | 2020 |
| Předmět: |
General Business
Econometrics and Finance 020209 energy 05 social sciences Output growth 02 engineering and technology General Economics Management and Accounting Financial crises General Business Management and Accounting Globalization Market economy 0502 economics and business Financial crisis 0202 electrical engineering electronic engineering information engineering Economics 050207 economics General Economics Econometrics and Finance |
| Zdroj: | International Economics, Vol. 161, p. 139-158 (2020) |
| ISSN: | 2110-7017 |
| DOI: | 10.1016/j.inteco.2019.11.011 |
| Popis: | This paper investigates the persistent impact of financial crises on economic growth in different regimes of globalization. Relying on a nonlinear dynamic panel representation, this paper explains why the effects of globalization on growth weave into a tale of two opposite narratives. On average, a country experiences higher growth, the more open and integrated it is into the world. However, countries can also experience persistently lower medium-term output growth after a financial crisis, once globalization reaches a certain threshold. The benefits, as well as vulnerabilities, accrue earlier in the globalization process for low-income countries. © 2019 CEPII (Centre d'Etudes Prospectives et d'Informations Internationales), a center for research and expertise on the world economy |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|
Full Text from ScienceDirect