Existing studies of Chinese diaspora policies have mostly focused on the evolution and content of these policies, which tend to be confined within the realm of domestic politics. Against the backdrop ...of China's increasing integration into the global economy, as well as its expanding interests abroad, this article goes beyond the existing frameworks in the studies of both domestic Chinese politics and diaspora relations by analyzing China's diaspora policies from the angle of transnational governance. Relying on policy documents, relevant data from institutions involved, and interviews and participatory observation at both central and provincial levels, the article argues that a state-centered approach in which the Chinese overseas are 'coopted' neglects how the engagement with transnational social actors, especially the new migrants, alters existing state structures and how the actions of Chinese overseas are driven by various motives and interests.
We examine how commonality in liquidity varies across countries and over time in ways related to supply determinants (funding liquidity of financial intermediaries) and demand determinants ...(correlated trading behavior of international and institutional investors, incentives to trade individual securities, and investor sentiment) of liquidity. Commonality in liquidity is greater in countries with and during times of high market volatility (especially, large market declines), greater presence of international investors, and more correlated trading activity. Our evidence is more reliably consistent with demand-side explanations and challenges the ability of the funding liquidity hypothesis to help us understand important aspects of financial market liquidity around the world, even during the recent financial crisis.
•We surveyed the water infrastructure of the world's large cities.•Cumulatively, cities moved 504 billion liters/day a distance of 27,000±3800km.•Previous hydrologic models that ignored ...infrastructure overestimated water stress.•One in four cities, with $4.2 trillion in economic activity, remain in water stress.•Financial limitations on infrastructure leave poor cities in greater water stress.
Urban growth is increasing the demand for freshwater resources, yet surprisingly the water sources of the world's large cities have never been globally assessed, hampering efforts to assess the distribution and causes of urban water stress. We conducted the first global survey of the large cities’ water sources, and show that previous global hydrologic models that ignored urban water infrastructure significantly overestimated urban water stress. Large cities obtain 78±3% of their water from surface sources, some of which are far away: cumulatively, large cities moved 504 billion liters a day (184km3yr−1) a distance of 27,000±3800km, and the upstream contributing area of urban water sources is 41% of the global land surface. Despite this infrastructure, one in four cities, containing $4.8±0.7 trillion in economic activity, remain water stressed due to geographical and financial limitations. The strategic management of these cities’ water sources is therefore important for the future of the global economy.
We investigate the hypothesis that macroeconomic fluctuations are primitively the results of many microeconomic shocks. We define fundamental volatility as the volatility that would arise from an ...economy made entirely of idiosyncratic sectoral or firm-level shocks. Fundamental volatility accounts for the swings in macroeconomic volatility in the major world economies in the past half-century. It accounts for the "great moderation" and its undoing. The initial great moderation is due to a decreasing share of manufacturing between 1975 and 1985. The recent rise of macroeconomic volatility is chiefly due to the growth of the financial sector.
ENTREPRENEURSHIP AND THE BUSINESS CYCLE Koellinger, Philipp D.; Thurik, A. Roy
The review of economics and statistics,
11/2012, Letnik:
94, Številka:
4
Journal Article
Recenzirano
Odprti dostop
We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. ...Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We discuss possible causes and implications of these findings.
PDF
