This paper argues that credit frictions and asset trading costs signi cantly increase the probability of a Sudden Stop in the early stages of nancial globalization, and that this in turn, signi cantly alters the long-run external capital structure of emerging market economies. Upon opening the capital account, domestic agents have an incentive to accumulate debt and sell domestic equity in orde...

In a simple model where global trade negotiations precede sequential Free Trade Agreement (FTA) formation, we show global tari¤ negotiations can prevent global free trade: FTA formation can yield global free trade in the absence of global tari¤ negotiations, but global free trade never emerges when global tari¤ negotitaions precede FTA formation. Intuitively, global tari¤ negotiations can preve...

A psychological perspective has been largely absent in the multidisciplinary discourse surrounding globalization. In this commentary, we highlight the unique contributions that the articles in this special issue have made in advancing a new psychological science of globalization. We discuss the critical role that psychological theory plays in understanding reactions to globalization, and in tur...

Globalization can be viewed as the integration of inputs and outputs into global markets, sharing of information and knowledge, and promulgation of rules governing such integration. World Trade Organization, International Monetary Fund, and World Bank play a vital role in the process of economic globalization. The positive and negative affects of globalization and the groups that resist and sup...

This paper examines the impact of globalization on income inequality in a panel of 78 developed and developing countries over 2002–2015. Moreover, the indirect effect of financial development in the link between globalization and income inequality is also analyzed by incorporating the interaction term between globalization and financial development. The empirical evidence based on the first-dif...

This paper is an effort to discuss the concept of glocalization from a semiotic point of view. In order to carry out a semiotic analysis of globalization or glocalization, first globalization needs to be defined from a semiotic perspective. Therefore, first an explanation of globalization and glocalization in semiotic terms is provided. Some believe the ongoing process in the world cannot be be...

The animosity surrounding the debate on globalization requires that a holistic approach be adopted when analyzing this issue. Globalization is a prismatic phenomenon, which should be looked at in all its manifestations and from different angles. What is globalization? What accounts for the unequal distribution of globalization effects around the world? What is the impact of globalization on the...

The issue of economic globalization and global economic change has been a subject of immense academic research in the past two decades. The Janus face of economic globalization, however, continues to obfuscate our understanding of its complex processes and alleged geographical outcomes. In this paper, I aim to re-present the indispensable role of geography in conceptualizing economic globalizat...