The Contribution of Exports to the Mexican Economy During the First Globalisation (1870–1929)

This article provides an assessment of the contribution of exports to the Mexican economy during the first globalisation. This implies revisiting conventional explanations based on the tradition of structuralism and dependency theory, using a new, complete set of data on Mexico's foreign trade, and evaluating the direct contribution as well as the indirect benefits provided by export activities, through mechanisms that linked foreign trade to the rest of the economy. The most important among these were positive externalities, spillovers, and backward and forward linkages.     

Downfall delayed: Danish shipbuilding and industrial dislocation

This article analyses the decline of the Danish shipbuilding industry. European shipyards dominated global shipbuilding markets in the first half of the twentieth century, but began to be challenged by the Japanese from the 1950s and by the South Koreans from the late 1970s. More recently, China has taken over large slices of the global shipbuilding market and currently is the world's largest shipbuilding nation. As a result of this new competition, European shipyards closed en masse and Europe experienced a process of maritime deindustrialisation in the 1970s and 1980s. Danish shipyards were not immune to these challenges, although maritime deindustrialisation in this country was almost two decades later than in many other European countries. This article examines how Denmark was able to escape this general maritime deindustrialisation for so long and offers three explanations: institutional, entrepreneurial and political.     

The International Financial Architecture and the Limits to Neoliberal Hegemony

During the 1990s in many western countries employment decreased or at least stagnated and unemployment increased. One of the few countries where the reverse happened is the Netherlands. Harmonious relations and cooperation between capital and labour, particularly the exchange of wage moderation for jobs, are seen as the secret of its success and often viewed as a model in other European countries. One of the reasons for this is that the Dutch have not paid the price of an Anglo-Saxon poverty rate for employment growth. Despite some cuts, their comprehensive welfare system still has relatively high replacement rates. We will, however, see that the Dutch development is not as model-like as it superficially appears. Labour market participation is not particularly high and, consequently, non-employment—including a very large number of people on disability, early pension or social assistance schemes—is high. In fact, at least up to 1996/97, it had changed very little since the mid 1980s. Therefore, it is only in the very recent past that the rise of employment has been accompanied by a decline in non-employment.     

Whither globalisation and convergence? Asian examples and future research

Among the most popular of buzzwords and debated topics for governments, policy-makers and management as well as academia are ‘globalisation’. Under its influence, one implication is that there is ‘convergence’ around a set of universally applicable and transferable beliefs and ‘global’ standards or ‘best’ practices which in turn produce ever more standardization with homogenized and similar nations and practices – the ‘McDonaldisation’ of everything. However, this is not a new idea and needs historical grounding and context. Also, in Asia, we can see globalization differently with not only constraints and alternatives, but even counter trends at both institutional and cultural levels, such as post-1980s ideas of the ‘Japanisation’ of management and industries and now the so-called ‘Korean Wave’ of Korean entertainment and popular culture rolling out over parts of the world. This indicates that globalization’s converging impacts are less all-powerful than is often portrayed and thought.     

Grappling with Globalisation: Challenges for Economic Governance

This paper examines the key domestic institutional challenges posed by globalisation in terms of the following questions: how does economic globalisation differ from other types of economic integration, what is its impact on the extant national institutions of economic governance, what institutional innovations are required to cope with the challenges, and how can institutional change be made politically feasible? It identifies three perspectives on how national governments may respond – retreat, hold fort, or rearticulate. It concludes that though governments need to devise policies to attract MNEs, indulging in races‐to the‐bottom is not the only route, perhaps not even a desirable route. Second, to attract FDI, governments must afford labor flexibility. How they actually implement it will vary within and across countries, depending on the capacities and the willingness of governments to undertake institutional reform. Labour flexibility can be made politically feasible by increasing the levels of social insurance to protect displaced labour and by instituting programmes that increase their skills and employability.     

Soils,scale, or elites? Biological innovation in Uruguayan cattle farming, 1880–1913

This article examines the economics of innovation in livestock rearing during the first globalisation in Uruguay, the country with the most cattle per person in the world, both then and now. Using a new historical dataset of Uruguayan agriculture, the first one at a sub-provincial level, I exploit regional differences in the adoption of cattle crossbreeding – the genetic improvement of local herds through hybridisation with foreign breeds. Contrary to traditional historiographical claims, I find that this innovation was not primarily explained by the location of enlightened elites (European or local) or by the scale of productive units (i.e. latifundia); rather, rural producers invested in crossbreeding wherever their local landscapes and previous productive choices encouraged it. While it affected biological processes that spanned several agricultural calendars, and thereby developed more slowly than innovations in crop farming, technical change in Uruguayan ranching was also environmentally sensitive, largely scale-neutral, congruent with previous agricultural patterns, and hinged on a widespread response from producers.     

Dynamic relationship between tourism,economic growth,and environmental quality

Abstract

In the recent era of globalisation, the tourism sector is growing rapidly and stimulates economic growth across the world, however, the inevitable environmental consequences of tourism cannot be ignored. For sustainable tourism, it is necessary to understand the interrelationship between economic growth, tourism, and environmental quality. Hence, the objective of the current research is to investigate the dynamic relationship between tourism, economic growth, and CO₂ emissions from 1995 to 2014 in the context of BRICS economies. A group of econometric tests robust to heterogeneity and cross-sectional dependence is applied to achieve accurate and unbiased results. Empirical findings propose that tourism sector significantly encourages economic growth; however, tourism degrades the quality of the environment. Also, globalisation has a long-term relationship with economic growth but an insignificant relationship with CO₂ emissions. The long-term elasticities further recommend that investment stimulate economic growth and mitigate CO₂ emissions. Moreover, environmental Kuznets curve (EKC) holds in BRICS countries in its significance to tourism and globalisation. Finally, a heterogeneous panel non-causality test detects bi-directional causality between tourism receipts and CO₂ emissions. Moreover, tourism and investment in tourism Granger cause each other. Empirical findings direct towards important policy implications.     

The use of accounting information in the tax base in the Pillar 2 global minimum tax: a discussion of the rules,potential problems,and possible alternatives

In this paper, I provide a high-level, non-technical review of how accounting information is used in Pillar 2 and what this means for the tax base. In addition, I discuss potential problems of using accounting data explicitly in a minimum tax and then, specifically, as the starting point for the computation of the income measures in Pillar 2. I then discuss several alternative solutions that may be simpler – or at least no more complex – and, importantly, pose fewer problems in terms of the quality of financial accounting information and the information available to capital markets.     

Tourism,Nationalism and Post-Communist Romania: The Life and Death of Dracula Park

The following analysis examines how Romania is responding to Dracula as a tourist attraction and focuses on the debate surrounding the proposed development of Dracula Park. The theme park employed a mythology developed from Bram Stoker's popularised Count Dracula, a character loosely based on medieval Wallachian ruler Vlad Tepes. The proposal triggered a string of heated debates that eventually thwarted the project. Although Dracula Park was met with opposition in Romania and from abroad, tourism (mainly from the western European Union and north American countries) to ‘Dracula sites’ continues and local tourism industries are thriving. This paper will contextualise this situation in longstanding debates on national identity and attempts to redefine Romania after Communism.     

From Neoliberalism to Neo-developmentalism? The Political Economy of Post-crisis Argentina (2002–2015)

Argentina’s post-crisis political economy was viewed as part of the emergence of a post-neoliberal governance and the rise of New Left governments in Latin America in the past decade that marked a renewal of state activism in economy and poverty reduction. Using the concept of ‘new developmentalism’ described by Bresser-Pereira, this article offers a more nuanced approach to post-neoliberalism in Argentina. It argues that the post-neoliberal project or neo-developmentalism in Argentina does not mark a distinct departure from neoliberalism. Instead, it embodies a hybrid and complex process that maintains the core elements of economic liberalism. This article aims to contribute to the debates on post-neoliberalism and the New Left in Latin America.