Nigeria has long been trying to learn how best to manage boom-bust cycles in global commodity prices, adopting an oil-price benchmark for annual budgets while saving revenues above the benchmark in an excess crude account in the half decade before the 2008/2009 global crisis. The crisis and its...

A few economists, researchers and many pundits in international business and international economics suppose that international trade has either begun to decrease or is about to decrease due to changes in the structure of the world economy. This paper rejects the empirical basis of this...

Using monthly data on trade in goods between January 2016 and May 2023, this study assesses the impact of recent shocks on the fragmentation of the global economy, looking in particular at the dynamics of friend-shoring, near-shoring and decoupling between the world's two largest economies....

Despite the major advances in information technology that have shaped the recent wave of globalization, openness to trade is still a political choice, and trade policy can change with shifts in domestic political equilibria. This paper suggests that a particular threat and a limiting factor to...

This paper is an attempt to provide an ideological postulation of Adam Smith and Karl Marx on globalization. This paper gives a fair picture of the different dominant nations over a period of time from sixteen century till 2010. The industrialzation in Europe and later on in North America...

The prevailing for a few centuries hitherto world order has been based on the dominance of the European civilization countries. At present, there emerges a new order based on the dominance of the Asian civilization represented by dynamically developing China. The new order means great changes...

The half century leading up to the crisis of 2008-2009 was the best such period in world economic history, especially in the Asia Pacific. Peace and relative economic stability permitted unprecedented liberalization, economic integration, and advances in productivity and growth. But the...

This paper explores the impact of past and future growth in the Association of Southeast Asian Nations (ASEAN), the People's Republic of China (PRC), and India — the ACI countries — on aggregate welfare, relative wages, and global emissions in the rest of the world. It outlines several...

The principal contribution of this paper is to investigate the relationship between policy uncertainty, caused by recent developments in international markets, and firms' trade margins for the largest economy in Africa: South Africa. In particular, using a unique database on the population of...

This paper analyses the impact of Regional Trade Agreements (RTAs) on intraregional manufactured exports in Africa. Using data from 1990 to 2015 for 45 African countries, a structural gravity model was estimated using the Poisson pseudo maximum likelihood estimator that controlled for...