Search

Most aspects of the argument of the UK government's 2000 White Paper on globalization and development stand up reasonably well to the findings of subsequent research. But there is significant new evidence in two areas: the size of the contribution of institutions to growth; and the complexity of the effects of increased openness on poor people. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

In our 2011 survey of the literature in the Journal of Economic Surveys on the effect of government size on economic growth in wealthy countries we find a relatively consistent pattern: An increase in government size by 10 percentage points is associated with a 0.5-1 percentage point lower annual growth rate. This conclusion is questioned by Colombier. In this rejoinder we present a rebuttal of Colombier's argument based on a detailed scrutiny of his own statistical evidence and regression results. Furthermore, we note that several new papers that have appeared since our original paper was published give support to our main conclusion. [ABSTRACT FROM AUTHOR]

With the experience of two severe disasters (the Hanshin Awaji Earthquake disaster of 1995 and the Great East Japan Earthquake disaster of 2011), I wish to consider 'subsistence' as human life, existence equaling the basic activities of life, an essential mutual act-like existence economy. In this paper, I pursue a positive development of 'disaster-time economics' as a research object under the larger framework of the formation of a 'moral economy,' as part of a critical process. In this paper, in order that a stricken area and society may aim at the realization of a new methodology about 'creative revival' for newly developing independent research involving the state of the revival fund of a wide sense is carried out. Nevertheless, there is an overall understanding of who, in what areas, and using what methodology, has conducted research in the restoration and revival process, as well as the weak points that tend to hinder the process. There is no research on the rationality and function of public finance expenditures or national sources expenditures. Therefore, in this paper, the term 'disaster-time economy' is newly prepared. From this concept, many activities of the project, service, support, self-efforts etc. of a social and private domain are grasped from a public sphere in connection with the process of maintenance/restoration under the disaster. The feature and subject point of the process are clarified. The market economy order that is going to be produced in this process does the basic work and determines the economic order for another self-subsistence over life. [ABSTRACT FROM AUTHOR]

This paper examines causal relationships between economic globalization, the three indices for product diversification of exports (Theil index, intensive margin and extensive margin) and economic growth in the unbalanced panel data framework in 139 countries over the period 1970-2010. We also consider the subgroup of the countries related to the income levels and run the panel Granger non-causality tests for heterogeneous panels. The empirical results indicate that there is a bidirectional causal relationship between economic globalization and economic growth. There is also a significant causal relationship that runs from all three indices for the diversification of exports to economic growth. After implementing various robustness checks, we observe that diversification of exports and economic globalization are positively related with economic growth merely in the upper middle economies. [ABSTRACT FROM AUTHOR]

This paper explores the rise of voluntourism in Fiji, a country reliant on tourism but which is a relatively new market for voluntourism. It draws from research examining the role of voluntourism in development through a case study of the experiences and discourse of voluntourists, a host community, and the staff of a commercial voluntourism organisation in Fiji. While voluntourism is the focus of significant and necessary critique, this research showed that narrow conceptions of what the outcomes of voluntourism should be – usually articulated as development or global citizenship – do not adequately account for the complex web of relationships and impacts that result from the voluntourism encounter. Instead, in this research a more complex picture emerged of the encounters facilitated by the voluntourism experience; the multiple relationships formed between volunteers and hosts; and the learning that took place, particularly within home stays. In this paper these encounters are explored using a wide‐angled view of development, drawing on Hart's (2001; Progress in Human Geography, 25, 649–658) conception of d/Development, to explore the relationship between development and global citizenship and how these are shaped by, and interact with, historical and contemporary global processes; from colonialism to commercialised volunteering. As such, this paper argues for a more nuanced and reflective approach to voluntourism and voluntourists, one which does not overlook the critiques, but which acknowledges the ways in which voluntourism encounters are shaping broader development trajectories within the contexts in which they occur; and for more attention to be paid to the way in which the discourses of global citizenship and development are co‐articulated and expressed in voluntourism practices. [ABSTRACT FROM AUTHOR]

This paper reviews the diverse literature on corporate political activity (CPA) and develops a framework that details and integrates existing research in this field. A systematic analysis of extant CPA literatures is conducted to order them into domains that have implications for organizational performance. The paper is structured into three such domain emphases, which require further research investigation: resources and capabilities focus; institutional focus; and political environment focus. The contribution of each to an understanding of CPA in pursuit or defence of corporate competitive advantage is discussed. The authors also suggest that the internationalization of business, including the more recent emergence of developing country economies and companies, presents scholars with the challenge of understanding CPA in more varied institutional settings. CPA practices continue to expand as commerce goes increasingly global and, consequently, involves a wider array of political actors and institutions. The paper contributes by increasing the clarity of CPA classification, reflecting on the implications of a multi-polar world for CPA research and advancing future agendas for scholars in this research community. [ABSTRACT FROM AUTHOR]

Abstract: External trade affects the internal spatial structure of an economy, promoting growth in some cities or regions and decline in others. Internal adjustment to these changes has often proved to be extremely slow and painful. This paper combines elements of urban and international economics to draw out the implications of trade shocks for city performance. Localization economies in production of internationally tradable goods mean that cities divide into two types, those producing tradables and those specializing in sectors producing just for the national market (nontradables). Negative trade shocks (and possibly also some positive ones) reduce the number of cities engaged in tradable production, increasing the number producing just nontradables. This has a negative effect across all nontradable cities, which lose population and land value. Remaining tradable cities boom, gaining population and land value. Depending on the initial position, city size dispersion may increase, thus raising the share of urban land rents in national income and reducing the share of labor. [ABSTRACT FROM AUTHOR]

This paper addresses the following question: why are we still arguing about globalization? Focus is placed on the conceptual point of departure, ‘globalization’ and its quantification. Differentiation is made between two perspectives on global economic integration: globalization as liberalization versus globalization as internationalism. The former, a policy input, a process of ‘opening’, leading to the latter. The latter, a policy outcome or the end outcome of ‘openness’, possible with or without the former. Selected literature on globalization and growth is discussed using the above criteria, categorizing ‘proponents’ and ‘sceptics’. The question is posed: to what extent differing approaches to conceptualizing globalization are responsible for generating different research findings. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper provides an overview of Chinese financial and trade integration in recent decades, and the challenges facing China in the coming years. China had been a prime example of export-led growth, benefiting from learning by doing, and by adopting foreign know-how, supported by a complex industrial policy. While the resultant growth has been spectacular, it comes with hidden but growing costs and distortions. The Chinese export-led growth path has been challenged by its own success, and the global financial crisis forced China toward rebalancing, which is a work in progress. Reflecting on the internationalization of the CNY, rapid acceleration of the commercial internationalization of the CNY is expected. In contrast, there are no clear-cut reasons to rush with the full CNY financial internationalization: the gains from CNY financial internationalization are overrated. [ABSTRACT FROM AUTHOR]

The aim of this article is to contribute to the discussion on designing alternative economic development indices by measuring economic progress in the face of the discontinuity of globalisation. To this end, we use different evaluation criteria for the 'old' (1960–1990) and the 'new' (1990–2019) globalisation. First, the historical context that has shaped the contemporary globalisation processes is outlined, which makes it possible to identify the 1990s and the subsequent change in the structure of the world industrial production and the world GDP as the most important tipping point. Based on the observation that none of the existing indices sufficiently cover all the issues, a new pilot measure of economic progress is proposed, which takes into account two time periods: the old (1960–1990) and the new (1990–2019) globalisation. The analysis of the data sample of 18 countries (G6, I6 and selected LDCs) using this measure makes it possible to assign their economies to four categories, depending on the results they have achieved; the 'winners', the 'losers', the 'late‐bloomers' and the 'inmates of industry'. Furthermore, possible directions for the future research on the subject are indicated. The data set supporting this study has been made publicly available to help in its continuation. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper discusses the trade policies and practices of Singapore based on the latest WTO trade policy review. Though Singapore's trade policies have been effective and contributing to its remarkable economic performance, it also faces problems and new challenges in the modern globalisation era. Reviewing Singapore's policies also provides guidance for other small open economies. [ABSTRACT FROM AUTHOR]

This paper performs a systematic literature review of the undeniably diverse – and somewhat fragmented – current state of research on the collaborations and internationalization of small and medium‐sized enterprises (SMEs). We analyze key works and synthesize them into a framework that conceptually maps key antecedents, mediators, and moderators that influence the internationalization of SMEs. In addition, we highlight limitations of the literature, most notably in terms of theoretical fragmentation; extant theories are deployed and illustrated but rarely extended in a manner that significantly informs subsequent work. At an applied (but related) level, we argue the need for supplementary work that explores the distinct stages of internationalization – and the scope and scale of this process – rather than assuming closure around particular events. With this, we highlight the need for more rigorous and empirically informed explorations of contextual effects that take account of the consequences of developments in the global economic ecosystem. [ABSTRACT FROM AUTHOR]

Recent developments in spatial political economy have shown that the shift of power from the national state to subnational states in many Western European countries does not represent a dismantling of the state, but a reconfiguration of statehood that the national state proactively takes part in. The existing literature, however, neglects the path-dependent and contested nature of state spatiality and depicts devolution as the only possible option. In contrast, this paper shows that changes in state spatiality are contingent upon historical and spatial context, where the state may choose to pursue different options. Based on an empirical study of South Korea, this paper shows that the national state may choose to resist the pressure for devolution. The methodological contribution of this paper is on the emphasis of discursive strategy in the study of state spatiality. [ABSTRACT FROM AUTHOR]

South Korea is one of the most successful newly industrialized countries in recent history in terms of sustained growth and wealth distribution where poverty has been mostly eradicated. This paper joins the argument that economic growth and development in Korea would have been unlikely to take off and develop without economic nationalism as a binding ingredient - or force - that has given direction to modernization policies. This paper asserts that economic nationalism in Korea is not necessarily a negative force and that it remains effective despite globalization and the neoliberal influence, which apparently undervalues it. In order to demonstrate the validity of the argument, three industries are compared and analyzed: the automotive, information and communication technology, and aerospace industries. The paper reviews the trajectories of these industries in accordance with the present and past stages of economic development in Korea. The relevance of the paper to the current scholarship is that in order to understand the contemporary political and economic developments in South Korea and their implications for the regional political economy it is necessary to recognize the issue of economic nationalism as explained here. The comparative method used to analyze the case studies provides a clearer picture of the evolutionary process and, hopefully, it helps the reader to discern likely future trends in Korean economic policy. [ABSTRACT FROM AUTHOR]

The scope of the paper is limited by focusing on developing countries in the context of the world economy. We mostly consider the effects of globalization on income levels and a country's rate of economic growth. This focus is supported by studies (Ravallion; Bourguignon) that find that the level of income and expenditures across a continuum of household income categories is positively associated with economic growth, although wealthy households may benefit more than those with lower income. [ABSTRACT FROM AUTHOR]

This paper reviews the historical evidence on the relationship between globalisation and economic growth. Divergence in the growth of income and industrialisation in the twentieth century is documented but it is also noted that international income inequality appears to have decreased since about 1870 and that long-run trends in the Human Development Index are much less pessimistic about the experience of developing countries. It is argued that trade liberalisation has been good for growth on average but that successful capital liberalisation requires high institutional quality and that the developmental state may have an important role to play in the early stages of development. The recent claim by Robert Lucas that the 21st century will see a massive reduction in income inequality across countries in a globalised world economy is sceptically discussed in the context of empirical evidence that bad institutions are often persistent and that geography is still a major factor in explaining international income differences. [ABSTRACT FROM AUTHOR]

This paper seeks to examine empirically the extent to which actors in subsidiaries of multinational companies (MNCs) are able to exercise some choice in the face of global pressures from the MNC headquarters (HQ). We argue that managerial practices in MNCs are not the result of a simple imposition of a global or a MNC organizational rationality but are subject to an interactive process, where differing contextual rationalities come into play. Using data from MNC subsidiaries in Britain and Germany, the paper compares the power resources and strategic choices of subsidiary level actors and shows the ways in which they seek to influence global strategy implementation as it affects local work systems. We investigate the different abilities of German and British managers to shape global restructuring processes in their local organizational contexts and conclude that national contexts impact on both the formulation of parent company strategies via a home country rationality and on the implementation of global strategies via a host country rationality. There are greater national barriers to a MNC policy of convergence based on standardized products and processes in Germany than in the UK. [ABSTRACT FROM AUTHOR]

The worldwide reforming process of pension systems triggered by the demographic transition and globalization has led several countries to implement multi-pillar pension systems and enhance pension funds. For this reason the studies on the effects that pension funds exert on markets performance have been flourishing in the last decades. In this paper, we provide an updated review of the empirical advances in this field of study, with particular focus on the effects that pension funds produce on labour markets, financial markets and economic growth. [ABSTRACT FROM AUTHOR]

Research on venture capital (VC) internationalization has expanded rapidly over the last decade. This paper reviews the extant literature on VC internationalization and highlights gaps in our knowledge. We identify three major research streams within this literature, which revolve around the following questions: (1) which VC firms invest across borders and what countries do they target; (2) how do VC firms address liabilities of foreign investing; and (3) what are the real effects of international VC investments? We provide an overview of the contributions in these research streams, discuss the role of public policy, and suggest avenues for future research. Specifically, we call for a deeper understanding of: (1) the functioning and impact of VC firms' modes of internationalization; (2) micro‐level processes such as the functioning and decision making of international investment committees, or the development of international human and social capital; (3) the role of country institutions in VC internationalization and its real effects; and (4) the interplay of international VC with alternative financing sources. [ABSTRACT FROM AUTHOR]

Abstract: In this paper, the global tourism network (GTN) is studied in order to gain insight about its structure and the interactions between source and destination markets. To concentrate on the main source and destination markets for each country, only its top k inbound and outbound flows are considered. The distribution of these most important ties in international tourism seems to be scale‐free, with some occurrence of reciprocity, large transitivity, and high‐degree centralization. The GTN shows a clustered structure determined by geographical as well as trade and cultural factors. Each major global and regional power seems to have a certain tourism sphere of influence. The network has a small world character and a high degree of geographic homophily, with more links within continents than between continents. Exponential random graph models have been fit to explain the observed global structure of the network based on its local interactions, and a number of significant motifs have been identified. The picture that results is a GTN that emerges from superimposed local processes in which tourism flows between countries is determined from multiple independent individual decisions made at the local level. This insight that global tourism patterns are driven by local processes is a major contribution of this research and can help develop strategic plans and cooperation partnerships at the national and regional levels, involving private and public stakeholders and targeting specific source and destination markets. The indicators computed using network analysis of global tourism flows can also be used to complement and enrich the information provided by current tourism statistics. [ABSTRACT FROM AUTHOR]

The issue of income inequality in the People's Republic of China (PRC) has attracted world-wide attention, leading to a sizable literature. This paper attempts to provide a nonexhaustive literature review of the PRC's inequality trends and determinants, and suggested government interventions. It discusses profiles of income inequality along three dimensions: interhousehold disparity, regional divides, and urban-rural gaps. This is followed by an exploration of the driving forces behind rising inequality, including the notorious hukou system, policy biases, location or geographic factors, globalization, and education. Finally, the paper summarizes and proposes government interventions for containing or reducing income inequality in the PRC. Important areas for future research are also suggested in the final section of the paper. [ABSTRACT FROM AUTHOR]

This paper investigates the business cycle co-movement across countries and regions since 1950 as a measure for quantifying the economic interdependence in the ongoing globalisation process. Our methodological approach is based on analysis of a correlation matrix and the networks it contains. Such an approach summarises the interaction and interdependence of all elements, and it represents a more accurate measure of the global interdependence involved in an economic system. Our results show (1) the dynamics of interdependence has been driven more by synchronisation in regional growth patterns than by the synchronisation of the world economy, and (2) world crisis periods dramatically increase the global co-movement in the world economy. [ABSTRACT FROM AUTHOR]

Modern science is characterized by an increasing trend in collaborations and interactions among researchers. This paper aims to analyse the effects of this phenomenon on the productivity of the science sector and on the growth rate of the economy. Basic research is modelled as a contest where only those who arrive first at an innovation obtain the reward and where the interactions among researchers do contribute to production of scientific knowledge. An important result is that when interactions are significant multiple steady states emerge. Hence the 'science globalization' process could have enhanced the heterogeneity among scientific sectors of different countries. When there are low interactions, policies that increase connectivity could have low or even perverse effect at improving the efficiency of science, the contrary happens in high connectivity environments. [ABSTRACT FROM AUTHOR]

Copyright of Canadian Journal of Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Canadian Journal of Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Empirical research has generally attributed the dismal performance of Africa's economic growth to country-specific socio-economic and geo-political factors. This paper shows that while country-specific issues matter for Africa's economic growth, common global economic factors do matter as well. The importance of common global economic factors has been augmented by increased globalization, the introduction of the World Trade Organization and the current global economic crisis. Using system GMM panel data techniques that extend previous literature on Africa's growth, the estimation results provide new insights into the positive relationship between the world business cycle and the growth rates of African countries. Copyright © 2010 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

We examine the relationship between offshoring and the labor market in an occupational choice model of trade and endogenous growth where workers are employed on the basis of their individual skill levels. Trade liberalization leads to offshoring and reduces employment in the manufacturing sector. Displaced workers move into traditional and innovation sectors according to their skill levels, shaping real wages and aggregate productivity in the manufacturing sector. The paper aims to show how inter-sectoral labor market adjustments, highlighted by skill heterogeneity, could be a possible explanation for the simultaneous rise in productivity and reduction in real wages that have coincided with the sharp escalation of offshoring activities in the U.S. manufacturing sector since 2004. ( JEL F16, F23, J24) [ABSTRACT FROM AUTHOR]

Globalisation and its consequent economic restructuring have implications at the local level. At the same time historical paths and traditions, embeddedness of local actors and institutional factors have all become significant in explaining different neighbourhood trajectories and, particularly, the patterns of urban segregation that emerge following economic restructuring. Given the unusual nature of the Spanish housing model and the massive arrival of immigrants since the end of the 1990s, this paper explores the urban effects of immigration settlement patterns in the context of a market dominated by owner-occupation and a unique framework of social housing policy. Purchase of permanent residences is an essential step in the housing careers of the Spanish population but also for immigrants to Spain. The paper analyses the extent to which this influences urban segregation patterns and neighbourhood characteristics in Spain. Barcelona is referred to as a case study, to illustrate the influence of the existing housing system in the process of the accommodation of newcomers. [ABSTRACT FROM AUTHOR]

The question that drives this paper is: When can we expect firm upgrading by developing-country suppliers in global value chains will lead to improvements in labour conditions? To deal with this question we, (a) position firm upgrading in the global value chain approach, (b) investigate existing evidence and conceptualisations on how economic globalisation impacts on labour, and (c) develop some hypotheses on when we can expect firm upgrading and improvements in labour conditions to go together. We conclude that firm upgrading in developing-country suppliers in global value chains as a rule does not lead to improvements in labour conditions. Instead, the much broader and more forceful process of immiserising growth makes it very unlikely that workers in such relatively low-skilled production activities will enjoy improvements in labour conditions. Ethical sourcing may lead to improvements in labour conditions of core workers in final product manufacturers and key supplier firms, but it is as yet unclear to what extent such a business model can and will be disseminated. More generally, even though economic globalisation does selectively create new jobs, even labour conditions of core workers may be under pressure while the overall proportion of core workers appears to be declining. [ABSTRACT FROM AUTHOR]

There has been a growing recognition of the role of Non-Governmental Development Organizations (NGDOs) in strengthening civil society as an effective strategy for poverty eradication. This approach includes broad-based development ownership and empowerment of the poor. The paper argues that in the context of globalization NGDOs need to focus on expanding space for poor people to engage with emerging forms of states and markets for their livelihood advantage. This implies creating space where the poor can effectively negotiate the global discourses and frameworks of development from their particular experiences and images of reality. In this position, the poor will find room for manoeuvre within which to influence the local, national and global processes and structures for their benefit. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper examines how links between the economies of Southeast Asia and the world economy have changed over the twentieth century, paying particular attention to growth in commodity exports, investment flows and international migration. Most parts of Southeast Asia expanded their links with the global economy in the latter part of the nineteenth and early twentieth centuries, but the years from 1940 to 1965 saw a decline in Southeast Asia's share of tropical exports, and of direct foreign investment. Migration flows also slowed. Over the last four decades of the twentieth century, international links expanded again, but there have been marked variations between countries. [ABSTRACT FROM AUTHOR]

Focuses on the impact of economic liberalization, structural adjustment and globalization on the socioeconomic conditions of the urban poor. Role of the public sector in urban management; Relationship between local government, non-governmental organizations, and private sector organizations; Role of municipal governments in the process of urban economic growth.

Over the past few decades, cities and city regions have become the core of the global economy. Regional governments are increasingly drafting city development policies and implementing them through various visioning documents with the aim of making cities more global, networked and competitive. Welfarist governments especially in the global South are becoming increasingly entrepreneurial, and in the process poor citizens are getting pushed to the margins, evicted from their land and relocated to city fringes. Hyderabad in India provides an interesting illustration of neoliberal development trends in which poor local farmers are forced off their land to make way for a 'world-class' knowledge enclave, popularly known as Cyberabad. This paper examines the policies and processes by which the regional government has sought to brand Hyderabad as a world-class information technology destination and to restructure and reimagine it as a key node in a network of 'globally connected cities' of the world. It also considers the making of Cyberabad in terms of splintering urbanism, which is often understood as a defining feature of contemporary neoliberal urban processes. [ABSTRACT FROM AUTHOR]

This special issue aims at advancing the debate about the interpretative power of evolutionary perspectives on economic development and institutional change. In the introduction, we argue that the interpretative power of the current evolutionary approach can be improved by elaborating an 'augmented' perspective to economic development, which explicitly integrates the role of institutions and the dynamics of natural resource sectors (e.g. agro-food) into the analysis. We maintain that such a theoretical and empirical advancement can help to define a conceptual framework that is more suitable to analyse innovation-driven change, differentiated development patterns, opportunities and constraints for developing countries in the globalised knowledge economy. A collection of papers that adopt this perspective are discussed in order to prove the interpretative power of this approach in a variety of development contexts. [ABSTRACT FROM AUTHOR]

The Brazilian National Development Bank ( BNDES) saw dramatic increases in its financial resources for lending after 2005. This article explains how the bank has been 'internationalized' alongside this growth in total resources, beginning with export finance and expanding to supporting foreign direct investments and other international economic activities. At the same time, legal and structural factors restrict BNDES' international activities in ways that are often poorly understood, but that keep many of the bank's resources inside Brazil or tightly linked to Brazilian firms. After a general explanation of these factors, this paper examines empirical claims about BNDES' lending to its South American neighbors, concluding that it is considerably more limited than both the bank's critics and champions contend. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

According to the economic literature, high-skilled emigration may either harm or benefit developing economies. Recent research highlighted several positive and negative channels through which the brain drain operates. This paper aims at evaluating the relative magnitudes of various brain drain channels and quantifying their global impact on migrants' sending countries. For this purpose, we develop a 10-region general equilibrium model of the world economy characterized by overlapping-generations dynamics. Our findings suggest that the short-run impact of brain drain on resident human capital is extremely crucial, as it affects not only the number of high-skilled workers available to domestic production, but also the sending economy's capacity to innovate/adopt modern technologies. This latter effect is particularly important in globalization, where capital investments are made in places with high production efficiencies. Hence, despite positive feedback effects, those countries facing prevalent high-skilled emigration are the most candid victims to brain drain. ( JEL F22, J24, O57) [ABSTRACT FROM AUTHOR]

Asia is an increasingly significant player in the global economy, and Asia's unprecedented growth and multifaceted disparities have generated many fascinating issues for scholarly research. This paper summarizes the diverse regional policy and practices of Asia in the context of globalization and transition. We argue that research on Asia is embedded in the complex economic-geographical processes and multiple trajectories of development. This paper highlights the important role of institutions and global-local interactions in regional development and public policy. Resumen. Asia es un actor cada vez más importante en la economía mundial y su crecimiento sin precedentes y las múltiples facetas de sus disparidades han generado un buen número de tópicos fascinantes para la investigación académica. Este artículo resume las diversas políticas y prácticas regionales de Asia en el contexto de la globalización y la transición. Sostenemos que la investigación sobre Asia está inmersa en los complejos procesos económico-geográficos y múltiples líneas de desarrollo. El artículo pone de relieve el importante papel de las instituciones y las interacciones globales-locales en materia de desarrollo regional y políticas públicas. [ABSTRACT FROM AUTHOR]

This paper, devoted to the study of globalisation, analyses two distinct but closely related issues: First, it aims at evaluating disparities in the degree of globalisation observed in a sample of 101 countries over the period 1970-2005. Second, the paper tries to shed some light to the much debated issue of whether globalisation affects economic growth and, in so doing, whether convergence in globalisation brings about convergence in per capita income. The results obtained are both encouraging: on the one side, as it is shown that there has been a clear process of globalisation convergence; on the other, the paper concludes that globalisation has been one of the main drivers of economic growth, thus fostering convergence in per capita income. [ABSTRACT FROM AUTHOR]

There is a long tradition in the development literature that what a country exports matters for its growth prospects. Recent work has refocused on this issue by attempting to produce numerical scores for different types of product to identify the complexity or sophistication of a country's export basket. Based on the insight that the type of product an economy exports can have important implications for its economic performance and that goods exported predominantly by rich countries will have different characteristics from those exported by poor countries, Lall et al. (2006) put forward a means of classifying commodities based on the income levels of a product's main exporters. At around the same time, Hausmann et al. (2006), following a similar approach, put forward a slightly different form of product classification and Rodrik (2006) applied this specifically to an analysis of China. This paper highlights the difference between the approaches and its implications for the analysis of China, which appears less 'special' using the approach of Lall et al. It argues that the classification of products at a disaggregate level is a helpful starting point for assessing issues of trade competitiveness and that further work using either or both forms of classification is justified. [ABSTRACT FROM AUTHOR]

This study empirically focuses on examining the hypotheses of export premium (exporters are more productive than non-exporters), selection-into-exporting (more productive firms are ones that tend to become exporters) and learning-by-exporting (new export market entrants have higher productivity growth than non-exporters in the post-entry period). The propensity score matching method is used to adjust for observable differences of firm characteristics between exporters and non-exporters, allowing an adequate 'like-for-like' comparison. We also use the difference-in-difference matching estimator to capture the magnitude of different productivity growth between matched new export market entrants and non-exporters in the post-entry period up to two years. Drawing on 2,340 Chinese firms in the period 2000-02, we find evidence for export premium and self-selection, and once the firm has entered the export market there is additional productivity growth from the learning effect, in particular in the second year after entry. [ABSTRACT FROM AUTHOR]

Globalisation brought about worldwide changes, including economic and financial integration between countries. The objective of this paper is to establish if there is synchronisation between developed and developing countries with the world cycle. Research results show that business cycles have become less volatile after globalisation, but there is not much consensus on whether business cycles have become less or more synchronised since globalisation. Little research has been done on co-movement between emerging markets, such as South Africa, and the world business cycle. This paper derives common factors for developed and developing countries by applying principal component analysis (PCA) to output, consumption and investment data, which represents the countries' business cycles. The empirical analysis shows co-movement between some countries and the world business cycle (G7 countries as proxy). The results suggest that there are idiosyncratic and globally common shocks, which play different roles over time in different countries. The paper goes on to suggest that there are clear differences in how developed and emerging markets co-move with the world business cycle. A key finding is that the co-movement between developing economies and the world business cycle has increased since globalisation. This research also confirms previous research that most economies follow the world business cycle when large shocks – such as the recent economic downturn – occur. This has implications for forecasting the business cycle, especially in times of economic turmoil. [ABSTRACT FROM AUTHOR]

This paper argues that cumulative causation processes are fundamental to understanding growth and development. Such processes derive from spatially concentrated increasing returns to scale including thick market effects, knowledge spillovers, sectoral and urban clustering, and self-reinforcing improvements in physical and social infrastructure. These sources of agglomeration have been extensively analyzed in the economic geography literature. They imply that spatial unevenness in economic activity and incomes is an equilibrium outcome. Growth tends to be ‘lumpy’, with some sectors in some countries growing fast while other countries lag. The policy challenge is to lift potential new centers of economic activity to the point where they can reap the productivity and investment climate advantages of increasing returns and cumulative causation. [ABSTRACT FROM AUTHOR]

Tremendous changes in technology, political and social frameworks, as well as the impacts of globalization, have put pressure on countries to become competitive. One strategy for creating an engine of economic growth is the creation of clusters. These clusters, be they naturally or artificially conceived, hold the promise of becoming the economic weapons of a country. Many studies have been done to understand the factors behind the successes and failures of clusters. One of the reasons behind the inconsistent success of existing cluster policy frameworks in managing cluster performance is the fact that clusters often are at different levels of development, and it will require different strategies to create, enhance, and sustain their competitive advantage. This paper aims to propose and demonstrate a more holistic framework designed to understand key cluster dynamics that drives cluster performance, which then will enable policy makers to work toward ensuring sustainable cluster development. [ABSTRACT FROM AUTHOR]

This paper examines the impact of contemporary pressures on industrial districts and analyses the changes that are taking place in an industrial district confronted with disembedding and globalisation. We discuss the following questions: What are the processes and consequences of disembedding for the changing shape and form of inter-firm trust, contract and network forms? Is there an evolution in subcontracting and trade interdependency? What is the role of institutional infrastructures? We performed a longitudinal qualitative study using a number of different data sources to analyse the evolution of one French industrial district, particularly how new pressures of internationalisation and disembedding work to reconfigure inter-firm relations in this district. While the recent literature is dominated by notions about industrial districts that concern only the trend towards increased competition or disembeddedness, this article shows that there is no unilinear trend. In contrast with the findings of certain recent studies, we argue that economic logic does not fully account for recent developments because the adjustment that are being made by the district are characterised rather by re-embeddedness, increased cooperation, and institutionalisation. [ABSTRACT FROM AUTHOR]

Concerns over the effects of globalisation and liberalisation have intensified the debates over the trajectories and underlying sources of regional inequality. This paper attempts to link macro studies of regional inequality to micro studies of local development and to expand the research on intraprovincial inequality in China to Guangdong Province. First, substantial evidence has been provided to illustrate the extent of polarisation between the Pearl River Delta (PRD) and the periphery, especially since the early 1990s. Second, it has been found that new economic spaces centred on exoproduction centres, high-tech zones, university clusters, and entrepreneurial spaces driven by the domestication of globalisation and the growth of the knowledge economy have emerged as new engines of regional growth. The orthodox notion of the PRD development as externally driven has become obsolete, and a new conceptualisation centred on the knowledge economy and integrated development better explains regional development and polarisation in Guangdong. Finally, the theoretical and policy implications of the research are discussed. The emerging form of regional development in the PRD represents an effort to make the knowledge economy the new engine of regional development and indicates that developing countries such as China are attempting to move beyond being a manufacturing assembler. The emergence of the knowledge economy in the PRD also has important implications for the recent efforts to develop the Greater Pearl River Delta, which needs to pay more attention to global networks for innovation and creativity. Moreover, the emergence of the knowledge economy makes the development of the periphery even more challenging due to the effects of self-reinforcing agglomeration and the constraints of geographical barriers. [ABSTRACT FROM AUTHOR]

This lecture examines whether financial globalization is beneficial to developing countries by first examining the evidence on financial development and economic growth and concludes that financial development is indeed a key element in promoting economic growth. It then asks why if financial development is so beneficial, it often does not occur. It then goes on to examine whether globalization, particularly of the financial kind, can help encourage financial and economic development and argues that it can. However, financial globalization does not always work to encourage economic development because it often leads to devastating financial crises. The issue is thus not whether financial globalization is inherently good or bad, but whether it can be done right. [ABSTRACT FROM AUTHOR]

This paper studies the nature and implications of globalization in China's economic development since 1978. It covers the four aspects of the flows of goods, capital, technology/information and of people to and from China. It also analyzes the role of the exchange rate of renminbi in transmitting the effects of foreign trade and investment to the Chinese macroeconomy. [ABSTRACT FROM AUTHOR]

The establishment of regional trading blocs is considered an important aspect of the process of economic and political globalisation. Focusing on the European Union and the Association of Southeast Asian Nations, this paper considers whether the involvement of regional trading blocs in tourism is desirable and if so, what form future participation might take. Based on the findings from two qualitative studies, examples of best practice are identified and recommendations are made. Greater co-operation over facilitating tourist movement and crisis management are suggested, but it is concluded that ultimately, the relevance of regional trading blocs in tourism needs further endorsement by the member states. Copyright © 2006 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]