The rise of Chinese outward foreign direct investment (ODI) over the past decade has been rapid, increasingly significant and often perceived as linked to policy goals of the Chinese central government. However, much of China’s ODI has historically remained local, serving largely as a convenient channel to invest Chinese capital domestically. With regard to energy, […]
GEGI co-director Kevin P. Gallagher, teamed up with economist Ilene Grabel to co-edit a special issue of the acclaimed Review of International Political Economy on capital controls and the global financial crisis. It has been well documented by economists and the International Monetary Fund that many countries were able to avoid the worst of the crisis by […]
By Kevin Gallagher. November 2014. Read the Paper
Between 500,000 and 4 million people sort trash for a living in Latin America. Most are poor, socially marginalized and politically disenfranchised. Recently, these waste pickers have organized collectively and pressed municipalities to respect their rights and meet their basic needs. Where sorting through trash was once condemned and even illegal, it is more commonly […]
By Kevin P. Gallagher and Daniela Magalhães Prates. GEGI Working Paper Series, September 2014. Read the Paper
In just over a decade, China has become a major source of finance for emerging markets and developing country governments. China and recipient governments have been less than transparent with respect to the scale, terms and composition of this finance, engendering a great deal of speculation about its nature. In a 2014 journal article published […]
By Kevin P. Gallagher, José Antonio Ocampo, Ming Zhang, Yu Yongding (July 2014) Leaders from the United States and China are meeting in mid July for another round of the Strategic and Economic Dialogue (SED) between the two countries. High on the agenda will be the health of each country’s economy and the fragility of […]
The North American Free Trade Agreement (NAFTA) between Mexico, the United States and Canada promised export, employment and gross domestic product (GDP) growth for each country. Traditional theory supported the same outcome, arguing the agreement would allow each nation to specialize in the sectors where each had a comparative advantage. However, the models assumed that […]
Since the 1950s, Korean and Japanese banks have loaned billions of dollars in loans to their “national champion” companies to encourage overseas investment. Now, Chinese state-owned banks have loaned billions to state-owned companies as part of China’s “Go Global” policy. While studies have compared China’s liberalization, inward foreign directing investment (FDI) attraction and export promotion […]
In the wake of the financial crisis the of the 1990s, the International Monetary Fund (IMF) began to publicly express support for what had traditionally been referred to as ‘capital controls’. In addition to public statements, the IMF underwent a systematic reevaluation of Fund policy on the matter, and published an official view on the […]