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...

The past few decades have seen many downtowns across the U.S., especially in small rural cities, experience declines. Adding to the problem, globalization has changed the Midwest forever with offshore competition for routine jobs. Traditional small family farms are vanishing, steel mills have closed, and many factories have shrunk or moved overseas. The Midwest, which was once a symbol of stabi...

Gatton Professor of International Banking and Financial Economics, University of Kentucky; and Vice President and Economist, Federal Reserve Bank of Boston. Valuable research assistance was provided by Zarmeen Katchi, Steven Fay, Carmen Corral-Solines, and Raquel Chmielewski. The views expressed are those of the authors and do not necessarily reflect official positions of the Federal Reserve Ba...

Sheikh I. Ahamed Marquette University, Milwaukee, Wisconsin, USA [email protected] Abstract Global software engineering projects are reality today. Since people from different countries participate in global projects, we need to prepare our students for this global environment. This paper addresses the challenges and required skill set to prepare students for globalization. The author also shares ...

Geographic Information Systems (GIS) offer the ability to capture and process large amounts of spatial data, integral to the success of utility companies. Rising competition due to privatization and globalization, as well as the increasing pace of digitization and technology adoption, have driven utility providers to focus on low-cost uninterrupted customer service. A holistic revamp of the GIS...

In a "nutrition transition", the consumption of foods high in fats and sweeteners is increasing throughout the developing world. The transition, implicated in the rapid rise of obesity and diet-related chronic diseases worldwide, is rooted in the processes of globalization. Globalization affects the nature of agri-food systems, thereby altering the quantity, type, cost and desirability of foods...

Recent studies show that trade liberalization increases skilled wage premiums in developing countries. This result suggests globalization bene…ts skilled workers more than unskilled workers, increasing inequality. However, if human capital investment responds to new global opportunities, this e¤ect may be mitigated. I study how the impact of globalization varies across Indian districts with di¤...

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...

It is widely recognized that Cuba, despite poor economic performance, has achieved and sustained health indices comparable to those in developed countries--the Cuban Paradox. There has been, however, remarkably little scholarship evaluating how this has been accomplished, especially during a period of extreme economic hardship. Cuba's exclusion from the mainstream of "globalization," moreover, ...

Two new developments in extracting wind information by tracking of clouds or water vapour features are increasing the spatial coverage and providing quality estimates for individual observations. The transition from low density to high density wind observations of both GOES satellites led to first experiences with increased spatial coverage in NWP centres. The relative impact of low density and...