Aspects of Globalisation: Macroeconomic and Capital Market by Christopher Tsoukis, George M. Agiomirgianakis, Tapan Biswas

By Christopher Tsoukis, George M. Agiomirgianakis, Tapan Biswas

Reflecting at the breadth of its scope, Aspects of Globalisation is meant to serve a diverse viewers. Being on the leading edge of study, it's going to entice teachers, researchers and postgraduate scholars attracted to new ways and concepts for destiny study. To this finish, the editors have inspired the members to pursue diversified subject matters and lift new matters, strategy their subject material in an analytically rigorous approach, and to incorporate rather prolonged evaluation sections inside their papers, as a way to lead them to necessary to a much broader readership. in addition, different methodologies are undefined, together with the common use of state of the art econometrics, reflecting the hot development in fiscal research. both importantly, a few of the papers provide uncomplicated coverage conclusions and will accordingly be of direct relevance to policy-minded analysts and policy-makers.

We hence desire that the papers incorporated right here will impress additional learn and concepts in addition to give a contribution to ongoing coverage debates. Its range, rigour and scope could be optimistic attributes of the quantity and will make it an invaluable resource of data for researchers and policy-makers alike.

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It is perhaps safest of all to suggest that Saving-Investment Cointegration 41 lack of strict-sense cointegration implies that substantial external balances are accumulated, de facto entailing mobility. e. with unitary coefficients. For the post-1980I sub-period, the two cointegrating pairs are lost and only Germany appears now to be close to (non-unitary) cointegration. Additionally, causality tests carried out in the companion paper (Tsoukis and Alyousha, 1999) indicate causality to run from saving to investment (indicating lack of mobility) in the former case; and from investment to saving for Germany post-1980I, indicating mobility.

In figure 3, we start with the assumption that capital is immobile between the two regions. The marginal productivity schedules of laborers in the South and in the North are labeled as MP s and MP N. The distance, ON-OS, measures the world labor force. The initial endowment of laborers in the two regions is represented by A. Total output produced in the North and in the South are ZEAO N and Z/EAO s. If migration is allowed uninhibited, AB gives the scale of migration from the South to the North and the total output of the world is maximized at E/.

7. CONCLUDING REMARKS We have looked into the principal economic causes of migration and the implications of migration in the context of a growing world economy. Recently, the political causes of migration (seeking asylum due to political violence in the home country) and illegal immigration have raised concerns. International Migration 25 For most countries, so far, the proportion of such migrants is not high. The debate is mainly focussed on the conflict of rights: the human right of seeking asylum from political violence and the right of a country to control the influx of refugees.

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