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Jaume Ventura (Barcelona GSE) Macro Seminar

When Oct 21, 2014
from 04:00 PM to 05:30 PM
Where Keynes Room
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Title: "Globalization and Political Structure"

Authors: Gino Gancia, Giacomo Ponzetto and Jaume Ventura

Affiliations: CREI, UPF and Barcelona GSE (same for all authors)

Abstract: Globalization is rapidly changing economic borders and yet political borders change only slowly. In this paper we study the nature and consequences of this growing mismatch. We show that globalization requires a political structure that redistributes power away from the centralized jurisdictions or states and towards a new set of overlapping jurisdictions that are both larger and smaller than existing states. Our theory suggests that globalization provides a simple yet powerful explanation for the rise of large nation-states followed by the creation of international unions together with a process of political fragmentation within states