聖塔非研究所

摘要 For centuries, national economies have been engag

2024-04-18 · 已發表論文 · 更新 2026/08/30 下午12:48

摘要 For centuries, national economies have been engaging in international trade and production. The resulting international supply 網絡s not only increase wealth for countries, but also allow f…

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  • 類型:已發表論文
  • 日期:2024-04-18

摘要

For centuries, national economies have been engaging in international trade and production. The resulting international supply 網絡s not only increase wealth for countries, but also allow for 經濟 shocks to propagate across borders. Using global, firm-level supply 網絡 data, we estimate a country's exposure to direct and indirect 經濟 losses caused by the failure of a company in another country. We show the 網絡 of international systemic risk-flows. We find that rich countries expose poor countries stronger to systemic risk than vice-versa. The risk is highly concentrated, however, higher risk levels are not compensated with a risk premium in GDP levels, nor higher GDP growth. Our findings put the often praised benefits for developing countries from globalized production in a new light, by relating

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