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Measuring Globalisation: OECD Economic Globalisation Indicators 2010
By combining two large data sets (on international trade flows and cross-border mergers and acquisitions -M&As), we test two implications of Neary's (2003 Neary's ( , 2007 general oligopolistic equilibrium (GOLE) model (incorporating strategic interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger wavedoi:10.1787/9789264084360-42-en fatcat:2vgjmxq4rbbg5bkxi7np6x6zeu