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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/5106

Title: Globalisation as a ‘good times’ phenomenon: a search-based explanation
Authors: Edwards, T. Huw
Keywords: Globalisation
Trade
Search
Issue Date: 2009
Publisher: © Loughborough University
Series/Report no.: Loughborough University. Department of Economics. Discussion Paper Series;WP 2009_07
Abstract: Globalisation is associated with long periods of sustained economic growth and credit expansion, whereas major recessions tend to lead to falling trade and protectionism. The sensitivity of trade to global economic conditions is not simply driven by policy: rather, in a model of costly search, firms who are engaged in a searching process are very sensitive to changing economic circumstances. In turn, this causes protectionism to be partly endogenous, since optimal noncooperative tariffs can be high during periods when the sensitive, searching firms have exited the market.
Description: This is a working paper. It is also available at: http://ideas.repec.org/p/lbo/lbowps/2009_07.html
Version: Published
URI: https://dspace.lboro.ac.uk/2134/5106
ISSN: 1750-4171
Appears in Collections:Working Papers (Economics)

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