Small and medium-sized enterprises (SMEs)— i.e., firms with fewer than 500 employees, play an important role in the US economy. SMEs represent 99.9 percent of the 25.8 million businesses and have generated 60–80 percent of net new jobs annually over the last decade. Thus, in order to understand the effect of globalization on the US economy, one has to know how globalization affects SMEs. This p...

How does the formation of cross-country teams affect the organization of work and the structure of wages? To study this question, we propose a theory of the assignment of heterogeneous agents into hierarchical teams, where less skilled agents specialize in production and more skilled agents specialize in problem solving. We first analyze the properties of the competitive equilibrium of the mode...

The book by Radhika Desai titled Geopolitical Economy: After US Hegemony, Globalization and Empire and part of The Future of World Capitalism book series, represents a profound introspection, as well as an overview of the most important politico-economic relations in the world, from the late-19thcentury until the current period. This book deconstructs common myths present in the mainstream lite...

Globalization has been an irreversible trend in the world economic and social advances. China, as an indispensable developing power, is playing a significant role on the world stage. Language, as a cultural element, is also affecting the process of China’s globalization. This paper aims to study the relationship between globalization and the cultural development of foreign language teaching and...

China’s recent accession to the WTO is expected to accelerate its integration into the world economy, which aggravates concerns over the impact of globalization on the already rising inter-regional income inequality in China. This paper discusses China’s globalization process and estimates an income generating function, incorporating trade and FDI variables. It then applies the newly developed ...

We study the impact on financial fragility of globalization and a switch from managed to freely floating exchange rate regime in the context of a two-country multi-region model a la Allen and Gale (Journal of Political Economy, 2000) with open-economy monetary features of Chang and Velasco (Journal of Economic Theory, 2000). In this economy, both banking and exchange rate crises may develop. In...

How are they related to each other? This chapter seeks to answer these questions. Answering the first is simple. Obviously, the current world order cannot be fully understood without taking ‚globalization‛ into consideration. The effects of Globalization reach every corner of the world in different scope and degree. Why is ‚civilization‛ important? It is important because civilization incorpora...

[email protected] Globalization impacts urban dynamics. Some cities more than others have taken advantage of globalization to become real poles of economic and cultural development or to reinforce their position as major world cities. Other cities have had more difficulties in jumping into the new global economy and are still struggling with the ghosts of their industrial pasts. Between t...