The World Economy

1977 - 2025

Current editor(s): David Greenaway

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Volume 41, month 12, 2018

Global debt dynamics: The elephant in the room pp. 3256-3268

Andreas Antoniades and Stephany Griffith‐Jones

Leverage and currency mismatches: Non‐financial companies in the emerging markets pp. 3269-3287

Michael Chui, Emese Kuruc and Philip Turner

Corporate debt maturity in developing countries: Sources of long and short‐termism pp. 3288-3316

Juan J. Cortina, Tatiana Didier and Sergio Schmukler

Localising sovereign debt: The rise of local currency bond markets in sub‐Saharan Africa pp. 3317-3344

Florence Dafe, Dennis Essers and Ulrich Volz

Unbundled debt and economic growth in developed and developing economies: An empirical analysis pp. 3345-3358

Maurizio Intartaglia, Andreas Antoniades and Sambit Bhattacharyya

Debt and development in historical perspective: The external constraints of late industrialisation revisited through South Korea and Brazil pp. 3359-3378

Andrew M. Fischer

Towards recoupling? Assessing the global impact of a Chinese hard landing through trade and commodity price channels pp. 3379-3415

Ludovic Gauvin and Cyril Rebillard

How political incentives affect Chinese outward foreign direct investment: A UN Security Council membership perspective pp. 3416-3441

Hong Ma and Yue Teng

Does the razor's edge exist? New evidence of the law of one price in China (1997–2012) pp. 3442-3466

Jianan Li, Zhiyuan Li and Puyang Sun

Trade liberalisation and cross‐firm wage heterogeneity: Theory and evidence from China pp. 3467-3481

Bo Chen and Jinbo Hou

Firm heterogeneity, market choice and productivity: Evidence from foreign‐owned enterprises in China pp. 3482-3502

Chih‐Hai Yang and Meng-Wen Tsou

The impact of the China–Australia Free Trade Agreement on Australia's education exports to China: A legal and economic assessment pp. 3503-3523

Junfang Xi, Weihuan Zhou and Heng Wang

WTO trade policy review for Switzerland: In need for a new paradigm pp. 3524-3535

Rolf Weder

Volume 41, month 11, 2018

Terrorism and international air travel: A gravity approach pp. 2852-2882

Devashish Mitra, Cong Pham and Subhayu Bandyopadhyay

Cumulative effects of Brexit and other UK and EU‐27 bilateral free‐trade agreements on the world’s wine markets pp. 2883-2894

Kym Anderson and Glyn Wittwer

The effect of broadband on European Union trade: A regional spatial approach pp. 2895-2913

Javier Barbero and Ernesto Rodriguez‐Crespo

Tall paper walls: The political economy of visas and cross‐border travel pp. 2914-2933

Andy McKay and Tsegay Tekleselassie

International remittances, migration and primary commodities pp. 2934-2953

Stephen Snudden

Are seminars on export promotion effective? Evidence from a randomised controlled trial pp. 2954-2982

Yu Ri Kim, Yasuyuki Todo, Daichi Shimamoto and Petr Matous

Quantity restrictions and price adjustment of Chinese Textile Exports to the US pp. 2983-3000

Daniel Bernhofen, Richard Upward and Zheng Wang

Do commodity price shocks weaken the financial sector? pp. 3001-3044

Tidiane Kinda, Montfort Mlachila and Rasmane Ouedraogo

Servicification in global value chains: Comparative analysis of selected Asian countries with OECD pp. 3045-3070

Shandre M. Thangavelu, Wenxiao Wang and Sothea Oum

A triangular purchasing power parity hypothesis pp. 3071-3097

Peijie Wang and Zhiyuan Liu

Product quality and sustainability: The effect of international environmental agreements on bilateral trade pp. 3098-3129

Stefan Borsky, Andrea Leiter and Michael Pfaffermayr

International capital mobility and unemployment dynamics: Empirical evidence from OECD countries pp. 3130-3171

Giovanna Vallanti

The global financial crisis and the mutual fund flow–performance relationship pp. 3172-3193

Yuchen Wang, John Watson and Jayasinghe Wickramanayake

Fertility and savings contractions in China: Long‐run global implications pp. 3194-3220

Jane Golley, Rodney Tyers and Yixiao Zhou

Corruption and the shadow economy: One‐way or two‐way street? pp. 3221-3241

Aziz N. Berdiev, Rajeev Goel and James Saunoris

Trademark protection, quality improvement and exports in developing countries pp. 3242-3254

Lei Yang, Xiaopeng Yin and Yin He

Volume 41, month 10, 2018

The WTO in Buenos Aires: The outcome and its significance for the future of the multilateral trading system pp. 2578-2598

Erin Hannah, James Scott and Rorden Wilkinson

Long‐term social, economic and fiscal effects of immigration into the EU: The role of the integration policy pp. 2599-2630

d'Artis Kancs and Patrizio Lecca

Trade and economic impacts of destination‐based business cash‐flow taxes pp. 2631-2649

Will Martin

Can tariffs be used to enforce Paris climate commitments? pp. 2650-2668

Niven Winchester

Does being an IMF executive board member (Re)pay? An examination of IMF loans and repayments pp. 2669-2690

Franck A. Malan

Can swap line arrangements help solve the Triffin dilemma? How? pp. 2691-2708

Elena Seghezza

Asia's rebalancing and growth pp. 2709-2731

Soyoung Kim, Jong-Wha Lee and Warwick McKibbin

The role of services in globalisation pp. 2732-2749

Timon Bohn, Steven Brakman and Erik Dietzenbacher

GEPPML: General equilibrium analysis with PPML pp. 2750-2782

James Anderson, Mario Larch and Yoto Yotov

Structural breaks, dynamic correlations, and hedge and safe havens for stock and foreign exchange markets in Greater China pp. 2783-2803

Xiyong Dong and Seong-Min Yoon

Value added and participation in global value chains: The case of Spain pp. 2804-2827

Marta Solaz

Monetary union in West Africa and business cycles synchronicity: New evidence pp. 2828-2848

Daniel Simons and Rosmy Jean Louis

Volume 41, month 09, 2018

US trade wars in the twenty‐first century with emerging countries: Make America and its partners lose again pp. 2276-2319

Antoine Bouët and David Laborde Debucquet

Services policy reform and manufacturing employment: Evidence from transition economies pp. 2320-2348

Matteo Fiorini, Bernard Hoekman and Clément Malgouyres

Brexit and its economic consequences pp. 2349-2373

Winston Chang

Exchange rate jumps and exports: Evidence from China pp. 2374-2388

Guangzhong Li, Jie Li and Jiaqing Zhu

US immigration policies and dynamics of cross‐border workforce in agriculture pp. 2389-2413

Stephen Devadoss and Jeff Luckstead

Price‐level co‐movements within currency unions: An alternative integration metric pp. 2414-2438

Gregory W. Whitten

Factor allocation, economic growth and unbalanced regional development in China pp. 2439-2463

Guanchun Liu, Yuanyuan Liu and Chengsi Zhang

The impact of migration on the cross‐border M&A: Some evidence for Japan pp. 2464-2490

Ivan Etzo and Sumiko Takaoka

Top income shares in OECD countries: The role of government ideology and globalisation pp. 2491-2527

Florian Dorn and Christoph Schinke

Port efficiency and Brazilian exports: A quantitative assessment of the impact of turnaround time pp. 2528-2551

Vinicios Sant'Anna and Sergio Kannebley

Global value chain and its impact on the linkage between exchange rate and export: Cases of China, Japan and Korea pp. 2552-2576

Hokyung Bang and Misook Park

Volume 41, month 08, 2018

Bilateral trust and trade: Evidence from China pp. 1918-1940

Weibo Xing and Li-An Zhou

Global value chain perspective of US–China trade and employment pp. 1941-1964

Guijun Lin, Fei Wang and Jiansuo Pei

International trade in branded and generic products pp. 1965-1975

Yoonho Choi and E. Kwan Choi

Population ageing and inequality: Evidence from China pp. 1976-2000

Xudong Chen, Bihong Huang and Shaoshuai Li

An empirical analysis of the Renminbi: Exchange rates and cross‐border trade settlement pp. 2001-2019

Weidong Huo, Fuhua Deng and Jiandong Chen

Do venture capitalists function the same: The evidence from the Chinese newest stock market, ChiNext pp. 2020-2041

Hamid Beladi, Chi-Chur Chao and May Hu

The impact of intergenerational transfers on wealth inequality in Japan and the United States pp. 2042-2066

Yoko Niimi and Charles Horioka

Has the development gap between the ethnic minority and majority groups narrowed in Vietnam?: Evidence from household surveys pp. 2067-2101

Tomoki Fujii

Strategic competition in the Asian mega‐regionalism and optimal choices pp. 2102-2128

Guijun Lin, Jiansuo Pei and Jin Zhang

Microeconomic adjustments during an export boom: Argentina, 2003–11 pp. 2129-2148

Facundo Albornoz, Ezequiel García Lembergman and Leticia Juarez

Trade, productivity and profitability: On profit levels and profit margins pp. 2149-2174

Marcel van den Berg, Charles Marrewijk and Saara Tamminen

False friends? Empirical evidence on trade policy substitution in regional trade agreements pp. 2175-2199

Magdalene Silberberger and Frederik Stender

Do subsidised export loans increase exports? pp. 2200-2215

Yusuf Emre Akgunduz, Suleyman Kal and Huzeyfe Torun

Spillover effects of Germany's final demand on Southern Europe pp. 2216-2242

Oliver Picek and Enno Schröder

Measuring the role of the 1959 revolution on Cuba's economic performance pp. 2243-2274

Hugo Jales, Thomas Kang, Guilherme Stein and Felipe Ribeiro

Volume 41, month 07, 2018

Special issue on the economics of common language and culture pp. 1748-1749

Peter Egger and Farid Toubal

English as a lingua franca: Facts, benefits and costs pp. 1750-1774

Jacques Melitz

Compensation schemes for learning a Lingua Franca in the European Union pp. 1775-1789

Victor Ginsburgh and Juan D. Moreno‐Ternero

Linguistic equilibrium with local and world languages: Challenges of globalisation pp. 1790-1811

Denis Davydov, Alexander Shapoval and Shlomo Weber

Cultural proximity: A source of trade flow resilience? pp. 1812-1832

Celine Carrere and Maria Masood

Native language and acquired language as determinants of product‐level trade pp. 1833-1846

Peter Egger and Farid Toubal

Harmonisation and globalisation of intellectual property culture pp. 1847-1866

Alireza Naghavi and Giovanni Prarolo

Exporting creative and cultural products: Birthplace diversity matters! pp. 1867-1887

Gianluca Orefice and Gianluca Santoni

Ethnic minorities and trade: The Soviet Union as a natural experiment pp. 1888-1902

Gunes Gokmen, Elena Nikishina and Pierre-Louis Vézina

The impact of common native language and immigration on imports pp. 1903-1916

Peter Egger and Andrea Lassmann

Volume 41, month 06, 2018

The true art of the tax deal: Evidence on aid flows and bilateral double tax agreements pp. 1478-1507

Julia Braun and Martin Zagler

Can Africa compete with China in manufacturing? The role of relative unit labour costs pp. 1508-1528

Stephen Golub, Janet Ceglowski, Ahmadou Aly Mbaye and Varun Prasad

Heterogeneous immigrants, exports and foreign direct investment: The role of language skills pp. 1529-1548

Matthias Lücke and Tobias Stöhr

Overlapping free trade agreements and international trade: A network approach pp. 1549-1566

Silvia Sopranzetti

The political economy of regulations and trade: Wine trade 1860–1970 pp. 1567-1595

Giulia Meloni and Johan Swinnen

Where at home do exporters produce and export? pp. 1596-1639

Kyoko Hirose and Yushi Yoshida

Financial vulnerability and export dynamics pp. 1640-1663

Melise Jaud, Youssouf Kiendrebeogo and Marie†Ange Véganzonès†Varoudakis

Pharmaceutical cost†sharing systems and savings for healthcare systems from parallel trade pp. 1664-1694

Laura Birg

Manufacturing servitisation and duration of exports in China pp. 1695-1721

Yaqiong Cui and Bin Liu

Exposure to the new wave of offshoring: An unemployment perspective pp. 1722-1746

Rui Zhang

Volume 41, month 05, 2018

Transplanting corporate culture across international borders: Foreign direct investment and female employment in Japan pp. 1148-1165

Naomi Kodama, Beata Javorcik and Yukiko Abe

Multinational activity of European firms and heterogeneity pp. 1166-1195

José C. Fariñas, Ana Martín†Marcos and Francisco J. Velázquez

Intensive and extensive margins of exports: What can India learn from China? pp. 1196-1222

C Veeramani, Lakshmi Aerath and Prachi Gupta

Do WTO+ commitments in services trade agreements reflect a quest for optimal regulatory convergence? Evidence from Asia pp. 1223-1250

Anirudh Shingal, Martin Roy and Pierre Sauvé

How do countries respond to anti†dumping filings? Dispute settlement and retaliatory anti†dumping pp. 1251-1268

Robert Feinberg and Kara Reynolds

Economic integration across Latin America: Evidence from labour markets, 1990–2013 pp. 1269-1287

Daniel Lederman and Raymond Robertson

China's exports, export tax rebates and exchange rate policy pp. 1288-1308

Zhenhui Xu

Macroeconomic policy cooperation and the G20 pp. 1309-1341

Adam Triggs

A meta†analysis of the indirect impact of foreign direct investment in old and new EU member states: Understanding productivity spillovers pp. 1342-1377

Randolph Bruno and Maria Cipollina

Does the US EXIM Bank really promote US exports? pp. 1378-1414

Natasha Agarwal and Zheng Wang

In search of spatial interdependence of US outbound FDI in the MENA region pp. 1415-1436

Anjum Siddiqui and Asim Iqbal

Sourcing patterns of export†platform foreign affiliates: The case of Japanese affiliates in Mexico pp. 1437-1456

Keisuke Kondo

The role of inbound tourist flows in promoting exports pp. 1457-1475

Zouheir El-Sahli

Volume 41, month 04, 2018

A life's work on trade and development pp. 960-966

David Greenaway and Oliver Morrissey

The downside of globalisation: Why it matters and what can be done about it pp. 967-974

Sir Paul Collier

The 1990s trade and wages debate in retrospect pp. 975-999

Adrian Wood

International competition, returns to skill and labour market adjustment pp. 1000-1024

Rodney Falvey, David Greenaway and Joana Silva

Why has export diversification been so hard to achieve in Africa? pp. 1025-1044

Paul Mosley

The challenge of youth employment in Asia: Lessons from four fast†growing economies pp. 1045-1067

Andy McKay, Chiara Mussida and Leticia Veruete

Fairness in the international allocation of development aid pp. 1068-1087

Mark McGillivray and Matthew Clarke

On the relationship between the breadth of preferential trading arrangements and trade flows pp. 1088-1110

Rodney Falvey and Neil Foster†McGregor

Anti†dumping use and its effect on trade liberalisation. Evidence for the European Union pp. 1111-1130

Tobias Ketterer

1066 and all that: Some deep determinants of voting shares in the 2016 referendum on EU membership pp. 1131-1146

David Fielding

Volume 41, month 03, 2018

Islamic economics and Islamic finance in the world economy pp. 668-673

Mansor Ibrahim and Nafis Alam

Bank lending channel in a dual banking system: Why are Islamic banks so responsive? pp. 674-698

Ahmet Aysan, Mustafa Disli and Huseyin Ozturk

How sukuk shapes firm performance pp. 699-722

Paul†Olivier Klein, Laurent Weill and Christophe Godlewski

Islamic economics and a third fundamental theorem of welfare economics pp. 723-737

Hayat Khan

Sharing contracts' marginalisation, adverse selection and markup calculation pp. 738-751

Fayçal Amrani

Funding development infrastructure without leverage: A risk†sharing alternative using innovative sukuk structures pp. 752-762

Obiyathulla Bacha and Abbas Mirakhor

Are top managers important for firm performance and idiosyncratic risk? Evidence from sharia vs non†sharia†compliant firms in the UK and Pakistan pp. 763-780

Ali Kutan, Iram Naz and Syed Muhammad Aamir Shah

Stabilising economic growth through risk sharing macro instruments pp. 781-800

Syed Aun R. Rizvi and Shaista Arshad

The heterogeneous competitive effects of trade and foreign direct investment: Firm†level evidence for European countries pp. 801-830

John P. Weche

The economic impact of the Trans†Pacific Partnership: What have we learned from CGE simulation? pp. 831-865

John Gilbert, Taiji Furusawa and Robert Scollay

The impact of the yuan†dollar exchange rate on Mexican manufacturing exports to the US: A cointegration approach pp. 866-883

Víctor Cuevas

Transparency in non†tariff measures: An international comparison pp. 884-912

Lili Yan Ing, Olivier Cadot and Janine Walz

Why price†level dispersion went up in Europe after the financial crisis pp. 913-925

Marco Hoeberichts and Ad Stokman

External adjustment in oil exporters: The role of fiscal policy and the exchange rate pp. 926-957

Alberto Behar and Armand Fouejieu

Volume 41, month 02, 2018

The exchange rate susceptibility of European core industries, 1995–2010 pp. 358-392

David Leuwer and Bernd Süssmuth

Do Swedish multinationals pay less in taxes than domestic firms? pp. 393-413

Åsa Hansson, Karin Olofsdotter and Susanna Thede

Robustness of the KOF index of economic globalisation pp. 414-430

Giray Gözgör

Aid, trade and migration: How do bilateral flows interact? pp. 431-456

Audrey Menard and Aurore Gary

The great trade collapse and the Spanish export miracle: Firm-level evidence from the crisis pp. 457-493

Peter Eppinger, Nicole Meythaler, Marc-Manuel Sindlinger and Marcel Smolka

Exchange rate effects: A case study of the export performance of the Swiss agriculture and food sector pp. 494-518

Andreas Kohler and Ali Ferjani

What drives the capital flows into BRICS economies? pp. 519-549

Vighneswara Swamy and Vijayakumar Narayanamurthy

The role of imports for exporter performance in Peru pp. 550-572

Martha Denisse Pierola, Ana Fernandes and Thomas Farole

The demand for safe assets in emerging economies and global imbalances: New empirical evidence pp. 573-603

Rudiger Ahrend, Alessandro Saia and Cyrille Schwellnus

Does real exchange rate depreciation increase productivity? Analysis using Korean firm†level data pp. 604-633

Bo†Young Choi and Ju Hyun Pyun

Country size and trade in intermediate and final goods pp. 634-652

Kwok Tong Soo

Picking cherries or lemons: A unified theory of cross†border mergers and acquisitions pp. 653-666

Tuan Anh Luong

Volume 41, month 01, 2018

North†South foreign direct investment and bilateral investment treaties pp. 2-28

Rodney Falvey and Neil Foster†McGregor

Migration and institutions: Evidence from internal EU mobility pp. 29-58

Silvia Migali

The relationship between trade openness and economic growth: Some new insights on the openness measurement issue pp. 59-76

Marilyne Huchet†Bourdon, Chantal Le Mouël and Mariana Vijil

The macroeconomic role of currency reserve accumulation in emerging markets—The Asian experience pp. 77-99

Joscha Beckmann, Theo Berger and Robert Czudaj

The great trade collapse and Indian firms pp. 100-125

Pavel Chakraborty

Dynamic spatial panel estimates of war contagion pp. 126-142

Fabrizio Carmignani and Parvinder Kler

An analysis of the cause and magnitude of foreign trade zone†induced biases in US import statistics pp. 143-170

Alexander J. Yeats

Yen or Yuan? The law of one price and economic integration in Asia pp. 171-193

Vinh Q. T. Dang, Yu (Alan) Yang and Kenneth Chan

Carbon policy and the structure of global trade pp. 194-221

Edward Balistreri, Christoph Böhringer and Thomas F. Rutherford

Does globalisation affect the shadow economy? pp. 222-241

Aziz N. Berdiev and James Saunoris

Does US quantitative easing affect exchange rate pass†through in China? pp. 242-261

Puyang Sun, Xinyu Hou and Jingjia Zhang

The political economy of non†tariff measures pp. 262-286

Cristina Herghelegiu

A computable general equilibrium model of international sanctions in Iran pp. 287-307

Mohammad Reza Gharibnavaz and Robert Waschik

Associating Turkey with the Transatlantic Trade and Investment Partnership: A costly (re†) engagement? pp. 308-336

Serdar Altay

The de minimis threshold in international trade: The costs of being too low pp. 337-356

Olim Latipov, Christine McDaniel and Simon Schropp