BADM 1004 Lecture Notes - Lecture 3: Repsol, Ypf
31 Mar 2017
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Growth and convergence: the gap between poor and rich countries grew. A group lends real resources and the other group promises to return the favor. Capital flow: bank run financial crashes affect people who never had a dime in the markets. Member states have to write eu directives into domestic law, so a government that violated a directive would also be violating its own law. Moral suasion more effective when there were fewer members. Ypf case: ypf was profitable, ypf was not investing, that was due to uncertainty about argentine policy, eskenazi deal provided cover for tunneling, in the end: Globalization is just an increase in the flow of goods, services, money and people across borders. Globalization is not new it"s been happening since the 19th century. Globalization fell apart in the middle of the 20th century when voters decided that they didn"t like it. Globalization today has made a lot of desperately poor people a lot better off.
