Modeling Financial Type 2b Globalization and its Repercussion on the Real Economy
Abstract The description of economic globalization still lacks a comprehensive formal and normative theory. The Globalization Types Model is a proposal to bridge this deficiency. Having modeled the globalization of physical trade flows, the so-called type 1 globalization with its different logics of subtypes 1a, 1b, and 1c, the aim now is to describe the globalization of finance, i.e. type 2b, and to integrate it into the Globalization Types Model. This paper analyses the repercussion of financial transactions on the evolution of economic cycles. Due to the mutual interactions of different systems, the modeling is not based on state equations but on principles of system dynamics with its positive and negative feedback loops. It puts the emphasis not on equilibrium but on transition modeling, i.e. on the triggering of state change. The result is a cognitive model showing the influence and systemic effects of financial transactions performed on commodity exchanges causing increased volatility of commodity prices and the repercussion on the industry value-chain. The model links the speculative part of financial type 2b globalization to physical demand and trade flows of globalization type 1, capital investments of globalization type 2a, as well as human migration of globalization type 3a and unemployment.
Measuring the Globalization Degree of Foreign Direct Investments from 2001 to 2012: First Interpretations
This paper measures the globalization degree of financial capital investments based mainly on elaborated UNCTAD data from 2001 to 2012. The paper is a joint research project and sets the base for an annual update to gain insight into the rational logic of foreign direct investments (FDI). The globalization degree is measured with a new statistical entropy risk metric which computes the interweaving of capital flows. The FDI Capital Globalization type 2a is part of a more comprehensive globalization types model. The entropy-based metrics used to compute the interweavement of capital flows is based on a Boltzmann-derived concept of entropy, i.e., the higher the order (high inequality), the lower the entropy, leading to a new defined statistical entropy. Translated to economy, the higher the inequality (high concentration of flows), the lower the entropy, i.e., the lower the globalization degree resulting in a higher risk of the economic system. The first results show that FDI during the analyzed period are globalizing. Different than the trade globalization of type 1, where Asia has emerged to become the most globalized region, for the FDI, Europe shows to be the most globalized region. The questions to be answered in this long-term study will deal whether the weakening global trade volume will be substituted by increasing capital investment in new emerging regions or what drives the investment logic.
Agriculture and Intellectual Property Rights: Economic, Institutional and Implementation Issues in Biotechnology
1: Introduction, V Santaniello et al. 2: Patent and Other Private Legal Rights for Biotechnology Inventions (Intellectual Property Rights - IPR), D D Evenson, P.L.L.C., Washington, USA 3: Intellectual Property Rights of Plant Varieties and of Biotechnology in the European Union, V Santaniello 4: Intellectual Property Rights under the Convention on Biological Diversity, W Lesser, Cornell University, USA 5: An Economic Approach to Identifying An `Effective Sui Generis System' for Plant Variety Protection Under TRIPS, W Lesser 6: Recent Intellectual Property Rights Controversies and Issues at the CGIAR, S H Bragdon, IPGRI, Rome, Italy 7: Economics of Intellectual Property Rights for Agricultural Technology, R E Evenson 8: The Market Value of Farmers' Rights, R Mendelsohn, Yale University, USA 9: International Crop Breeding in a World of Proprietary Technology, B D Wright, University of California, USA 10: Knowledge Management and the Economics of Agricultural Biotechnology, D Zilberman and C Yarkin, University of California, USA and A Heiman, Hebrew University, Israel 11: Comparing Allocation of Resources in Public and Private Research, S Lemarie, Universite Pierre-Mendes, Grenoble, France 12: Biotechnology Inventions: What Can We Learn From Patents?, D K N Johnson, Wellesley College, Massachusetts, USA and V Santaniello 13: Biotechnology Inventions: Patent Data Evidence, A Zohrabyan, Yale University, USA and R E Evenson 14: Property Rights and Regulations for Transgenic Crops in North America, G Carlson and M Marra, North Carolina State University, USA 15: Intellectual Property Rights, Canola and Public Research in Canada, P W B Phillips, University of Saskatchewan, Canada