Stephen Golub

Franklin and Betty Barr Professor of Economics

Stephen Golub

Prof. Golub is an expert on international trade and finance, money and banking, U.S.-Japan economic relations, exchange rates, and capital flows. His research finds that the low wages paid to workers in emerging economies do not necessarily give them an advantage over higher-wage countries, as many have believed. Rather, Golub finds that low wages in poorer countries often go hand-in-hand with lower productivity, basically nullifying any advantage the low-wage economy might have over a high-wage counterpart. If low wages truly conferred an advantage, Golub notes, countries such as Malaysia and Botswana would dominate world trade.

During 2002-03, Golub conducted research on the world economy at the Organization for Economic Cooperation and Development, an international economic organization known for its work on economic and social issues such as macroeconomics, trade, education, development, and science and innovation.

Golub, who received his Ph. D. from Yale University in 1983, has been a visiting scholar at Yale University, Columbia University, the International Monetary Fund, and the Federal Reserve Bank of San Francisco. He has been a member of Swarthmore's economics faculty since 1981.