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Author: Daniel Detzer
Publisher: GRIN Verlag
ISBN: 364066034X
Category : Business & Economics
Languages : en
Pages : 15
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Book Description
Essay from the year 2010 in the subject Economics - Foreign Trade Theory, Trade Policy, grade: 1, Berlin School of Economics and Law, course: International Trade and Monetary Economics, language: English, abstract: In the Washington Consensus trade liberalization is considered as an important policy to spur economic growth. Looking at different trade theories this recommendation is reasonable. However some economists argue that trade liberalization is not necessarily good for growth. They point to shortcomings of the underlying theories or to empirical studies that could not find these beneficial effects. Therefore this paper will try to answer the question “Is trade liberalization good for economic performance?”. Mostly, economic performance is equalized with economic growth or output. The author is aware of the fact that an increase in GDP is not the only way economic performance could be measured, but due to the limited space the paper will solely focus on this measure, while other things such as sustainability or equality will be neglected. To answer the question the paper will first outline some of the well-known trade theories to give the reader an impression of how free trade could benefit economic performance. Thereafter, exemplarily it will be shown that dropping some of the underlying assumptions can change the predictions entirely. Also with some showcase examples it will be illustrated what happens if one looks at the long term development. Lastly, the paper will look at available empirical research, summarize the results and draw a short conclusion.
Author: Daniel Detzer
Publisher: GRIN Verlag
ISBN: 364066034X
Category : Business & Economics
Languages : en
Pages : 15
Get Book Here
Book Description
Essay from the year 2010 in the subject Economics - Foreign Trade Theory, Trade Policy, grade: 1, Berlin School of Economics and Law, course: International Trade and Monetary Economics, language: English, abstract: In the Washington Consensus trade liberalization is considered as an important policy to spur economic growth. Looking at different trade theories this recommendation is reasonable. However some economists argue that trade liberalization is not necessarily good for growth. They point to shortcomings of the underlying theories or to empirical studies that could not find these beneficial effects. Therefore this paper will try to answer the question “Is trade liberalization good for economic performance?”. Mostly, economic performance is equalized with economic growth or output. The author is aware of the fact that an increase in GDP is not the only way economic performance could be measured, but due to the limited space the paper will solely focus on this measure, while other things such as sustainability or equality will be neglected. To answer the question the paper will first outline some of the well-known trade theories to give the reader an impression of how free trade could benefit economic performance. Thereafter, exemplarily it will be shown that dropping some of the underlying assumptions can change the predictions entirely. Also with some showcase examples it will be illustrated what happens if one looks at the long term development. Lastly, the paper will look at available empirical research, summarize the results and draw a short conclusion.
Author: Sebastian Edwards
Publisher: World Bank Publications
ISBN:
Category : Apertura economica - Paises en desarrollo
Languages : en
Pages : 66
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Book Description
Author: Romain Wacziarg
Publisher: Edward Elgar Publishing
ISBN: 9781788111492
Category : Free trade
Languages : en
Pages : 0
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Book Description
This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
Author: Neil McCulloch
Publisher: Centre for Economic Policy Research
ISBN: 9781898128625
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
Openness to trade is a key element of economic policy; continuing extreme poverty in developing countries is a disgrace. This Handbook examines how concerns about the world's poor should affect our attitude towards trade liberalization. Part I draws on economic analysis and practical experience to construct a framework to analyse the links between trade liberalization and poverty. It shows policy-makers how to identify the critical features in their economies so they can ensure that the poor benefit from liberalization. Part II explores the reform of particular sectors -- agriculture, services, etc., and particular instruments of trade policy -- export subsidies, anti-dumping measures, etc. It presents an economic analysis of each type of reform, shows the likely outcome for the poor, and discusses the issue's status on the World Trade Organization's agenda. Book jacket.
Author: A. P. Thirlwall
Publisher: Edward Elgar Publishing
ISBN: 184844401X
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
This is a meticulously researched and well written book on a subject of immense contemporary academic and policy interest. Prema-chandra Athukorala, Journal of Development Studies The book is a valuable contribution to the analysis of the links between trade liberalisation, poverty and inequality . . . The book is a coherent piece of work offering an abundance of well-researched and argued information, effectively establishing it as a notable contribution to the investigation and understanding of this very important field. Therefore this book is highly recommended as an important publication for everyone interested in this field as it is a powerful guide to the complex questions that emerge when dealing with the issues of trade liberalisation and poverty elimination at international level. Marios Koutsias, International Trade Law and Regulation Thirlwall and Pacheco-López s book makes its contribution by serving as a clearly written synthesis of a diversity of literatures on trade liberalization and its impacts on growth, inequality and wages, and poverty. . . . the book is an excellent one. It should be a required reading companion to any graduate-level trade course. Kevin P. Gallagher, Journal of Human Development and Capabilities This book breaks out of the standard distinction between free trade and protectionism , and shows how to think constructively about trade policy as an instrument of national economic strategy. It is highly recommended for those who wish to think beyond orthodoxy, and especially for those in developing countries who wish to influence negotiations with developed countries and western-based international organisations. Robert Wade, London School of Economics, UK This is a gem of a book. Based on deep understanding of diverse economic theories and empirical evidence, it offers us a succinct but highly informative overview of the controversies surrounding the impact of trade policy on growth, inequality, and macroeconomics. Ha-Joon Chang, University of Cambridge, UK, and author of Kicking Away the Ladder, and Bad Samaritans Free-trade fundamentalism is gradually making way for a more nuanced and historically well-informed understanding of the role that trade policy plays in economic development. Thirlwall and Pacheco-López provide an excellent review of the relevant literature as well as a sophisticated critique of the earlier, simplistic views. As they explain, it is the details the timing, sequencing, and context that determine whether liberalization will succeed. Dani Rodrik, Harvard University, US This book will infuriate the free trade ultras who believe that liberalisation is the answer to every problem and a good thing too. The real world, as Thirlwall and Pacheco-López show clearly and vividly, is different from the world of theoretical models so beloved by today s economic orthodoxy, and they take delight in tweaking the noses of the Washington consensus. History suggests they are right to argue that managed trade is better for developing countries than swallowing large doses of free-trade medicine. Larry Elliott, The Guardian Orthodox trade and growth theory, and the world s multilateral development institutions, extol the virtues of trade liberalisation and free trade for more rapid economic development of poor countries. However, the contemporary reality and history seem to tell a different story. The world economy has experienced an unprecedented period of trade liberalisation in the last thirty years, and yet international and global inequality is widening; domestic poverty (outside of China) is increasing; poor countries exports have grown more slowly than their imports leading to balance of payments crises, and the so-called globalising economies of the world (excluding China and India) have fared no better, and in some cases worse, than those countries that have not liberalised so extensively. This book argues that orthodox theory is based on many unreal assumptions,
Author: Sebastian Edwards
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 60
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Book Description
This paper deals with the role of trade regimes in determining economic performance and growth in the developing countries. The policy and empirical literatures on trade orientation and economic growth are critically reviewed; it is argued that a key limitation of these works has been the inability to create measures of trade orientation that are: (i) objective; (ii) continuous and (iii) comparable across countries. A growth model that relates trade orientation to the ability to absorb technological progress from the rest of the world is developed for the case of a small country. The model is tested using a new index of trade orientation that is free from the limitations described above. The results obtained using a cross country data set provide strong support to the hypothesis that, with other things given, countries with a less distorted external sector grow faster than those countries with a more distorted external sector. The new theories of economic growth are also discussed, and their usefulness for analyzing the relation between trade orientation and growth in the developing countries is assessed.
Author: Mohammed Shafi Uddin
Publisher: LAP Lambert Academic Publishing
ISBN: 9783838346724
Category :
Languages : en
Pages : 88
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Book Description
Bangladesh initiated the process of trade liberalization in the early 1980s as recommended by the World Bank and the International Monetary Fund. This book analyses the impact of trade liberalization on economic performance of Bangladesh by using the time series data of 1981-2005 with the help of cointegration and error correction methods. The empirical results exhibit the presence of a long-run relationship among the real gross domestic product (GDP) and its major determinants of gross fixed capital formation as share of GDP, education expenditure of government as share of gross national income, trade-GDP ratio and government consumption. The study suggests the importance of trade liberalization policies in order to enhance economic growth in the long-run. Researchers and students of economics will find this book a useful starting point for further research in the field of trade liberalization. It should also be useful to policymakers to formulate some general guidelines for undertaking trade liberalization in developing countries.
Author: Ashok Parikh
Publisher: World Scientific Publishing Company
ISBN: 9813106891
Category : Business & Economics
Languages : en
Pages : 323
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Book Description
This is one of few books on the quantitative assessment of trade liberalisation and its impact on micro and macro economics structure in developing countries. Addressing the prospects of economic growth at a macro level, gives a thorough analysis of various issues such as profitability of enterprises after liberalisation, structural change, imports and exports by sectors and regions, and the trade balances of developing countries. The aspects of terms of trade and the trade balances in African, Latin American and Asian economies are studied using econometric techniques.
Author: Lance Taylor
Publisher: Oxford University Press
ISBN: 0198033265
Category : Business & Economics
Languages : en
Pages : 519
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Book Description
This book reports on a fundamental economic policy shift in transition and developing countries after the mid-1980s. Since that time the liberalization of international trade and finance has been among the principal forces for increasing global integration. Looking at the experiences of nine countries--Argentina, Columbia, Cuba, India, Mexico, Russia, Korea, Turkey, and Zimbabwe--and the often negative effects that liberalization has had on them, the contributors include policy recommendations for often-overlooked problems and challenges posed by globalization.
Author: Aaditya Mattoo
Publisher: World Bank Publications
ISBN:
Category : Desarrollo economico
Languages : en
Pages : 40
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Book Description
Countries that fully liberalize their telecommunications and financial services sectors may be able to expect economic growth rates up to 1.5 percentage point higher than rates in other countries.
