Agenda

30 Mar 2026 12:15

Alberto Martin (CREI)

Meeting Room 1, San Giobbe Economics Campus

Alberto Martin (CREI) - Hegemonic Globalization (joint with Fernando Broner, Josefin Meyer, Christoph Trebesch)

Abstract:

How does the global balance of power shape the world economy? We propose a theory of “hegemonic globalization” built on two premises: countries have heterogeneous policy preferences, and trade expands with policy alignment. Hegemons foster alignment, enabling globalization, while a shift to multipolarity risks fragmentation, at the expense of the declining hegemon and its allies. Empirically, we use international treaties as a proxy of alignment and construct the Global Treaty Database, covering 77,000 agreements from 1800–2020. The evidence supports the key elements of our theory: hegemons spur treaty-making, and treaties are a leading indicator of bilateral trade.  

 

Language

The event will be held in English

Organized by

Department of Economics (EcSeminars)

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