An Empirical Study of the Relationships between CO2 Emissions, Economic Growth and Openness This paper investigates the existence of the environmental Kuznets curve (EKC) for carbon dioxide (CO2) emissions and its causal relationships with economic growth and openness by using time series data (1971-2006) from China (an emerging market), Korea (a newly industrialized country), and Japan (a deve...

The 1870-1913 period marked the birth of the first era of trade globalization. How did this tremendous increase in trade affect economic development? This work isolates a causality channel by exploiting the fact that the steamship produced an asymmetric change in trade distances among countries. Before the invention of the steamship, trade routes depended on wind patterns. The introduction of t...

If there are benefits to international risk sharing, consumption growth variability should decrease following the liberalization of the equity market. In addition, markets with open equity markets should display lower consumption growth variability than closed markets, everything else equal. However, the recent literature on financial liberalization suggests that volatile capital flows lead to ...

This paper investigates the effects of financial market globalization on the inequality of nations. The world economy consists of inherently identical countries, which could differ only in their levels of capital stock. Each country is represented by the standard overlapping generations model, modified only to incorporate credit market imperfection. An integration of financial markets affects t...

The paper explores firstly the impact of technological change on trade growth at the country level, using trade statistics and statistics on patenting activity in the US, across 20 countries for 17 manufacturing sectors. Secondly, using structural decomposition analysis, the paper examines statistically, whether the degree to which countries get access to sectors with above average growth in te...

A substantial part of the economic growth literature suggests that historically, geographic features such as decreasing trade costs have improved not only output but also growth. However, this literature lacks an analytical motivation for lower trade barriers, and assumes their decrease to obtain exogenously and at no cost. This paper attempts to address the issue by investigating how endogenou...

We consider a dynamic model of an economy where productive capital can be owned only by the members of an elite oligarchy, because property rights and contracts are effectively enforced only by their private political networks. This private protection entails a degree of ownership security that is good but not perfect. We find that the performance of the economy will depend critically on oligar...

This paper reassesses the impact of trade liberalization on productivity. We build a new, unique database of effective tariff rates at the country-industry level for a broad range of countries over the past two decades. We then explore both the direct effect of liberalization in the sector considered, as well as its indirect impact in downstream industries via input linkages. Our findings point...

Background—Methylxanthines are often administered to preterm infants for the treatment of apnoea. Aims—To study the eVects of theophylline on energy metabolism, physical activity, and lung mechanics in preterm infants. Methods—Indirect calorimetry was performed for six hours before and after administration of a bolus of theophylline (5 mg/kg) in 18 preterm infants while physical activity was re...

The multi-resistance gene cfr is widely distributed among various gram-positive and gram-negative species in livestock in China. To better understand the epidemiology of cfr among Staphylococcus spp. and E. coli isolates, 254 Staphylococcus spp. and 398 E. coli strains collected from six swine farms in China were subjected to prevalence and genetic analysis. Forty (15.7%) Staphylococcus spp. is...