The Adjustment Process and the Timing of Trade Liberalization PDF Download
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Author: Michael Mussa
Publisher:
ISBN:
Category : Commercial policy
Languages : en
Pages : 118
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Book Description
This paper examines the appropriate time path of the tariff rate for a small open economy that has decided to move from protection of import competing industries to free trade. Adjustment costs for moving resources to alternative uses do not provide a rationale for gradual adjustment of the tariff rate because in the absence of distortions, rational optimizing agents will make socially appropriate investment decisions with respect to adjustment when they are qiven correct price signals. Some distortions of the adjustment process imply the desirability of gradual adjustment of the tariff rate to slow adjustment, but other distortions imply the desirability of subsidizing imports in the short run in order to speed movement of resources out of previously protected industries. Concern with the income redistribution effects of reductions in the tariff rate(which usually injure owners of factors in previously protected industries) does provide a general rationale for a gradual move to free trade. The influence of the unemployment consequences of tariff reduction on the appropriate path of commercial policy depends on the nature and shape of the respone of the rate of resource reallocation to the level of unemployment in previously protected industries.
Author: Michael Mussa
Publisher:
ISBN:
Category : Commercial policy
Languages : en
Pages : 118
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Book Description
This paper examines the appropriate time path of the tariff rate for a small open economy that has decided to move from protection of import competing industries to free trade. Adjustment costs for moving resources to alternative uses do not provide a rationale for gradual adjustment of the tariff rate because in the absence of distortions, rational optimizing agents will make socially appropriate investment decisions with respect to adjustment when they are qiven correct price signals. Some distortions of the adjustment process imply the desirability of gradual adjustment of the tariff rate to slow adjustment, but other distortions imply the desirability of subsidizing imports in the short run in order to speed movement of resources out of previously protected industries. Concern with the income redistribution effects of reductions in the tariff rate(which usually injure owners of factors in previously protected industries) does provide a general rationale for a gradual move to free trade. The influence of the unemployment consequences of tariff reduction on the appropriate path of commercial policy depends on the nature and shape of the respone of the rate of resource reallocation to the level of unemployment in previously protected industries.
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: S. Laird
Publisher: Springer
ISBN: 0230377807
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
This book gauges possible development implications of current WTO trade negotiations by examining various proposals and assessing their likely economic impact. The experiences of a number of countries at different levels of development and across various regions are examined to ascertain the impact of their trade reforms.
Author: National Bureau of Economic Research
Publisher:
ISBN:
Category :
Languages : es
Pages : 50
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Book Description
Author: Ann Harrison
Publisher: University of Chicago Press
ISBN: 0226318001
Category : Business & Economics
Languages : en
Pages : 674
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Book Description
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Author: Ronald I. Mckinnon
Publisher: JHU Press
ISBN: 9780801847431
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
Can knowledge of financial policies in developing countries over four decades help the socialist economies of Asia and Eastern Europe become open market economies in the 1990s? In all these countries the loss of fiscal and monetary control has often resulted in high inflation that undermines the liberalization process itself. In the second edition of The Order of Economic Liberalization, Ronald McKinnon builds on his influential work on the liberalization of financial markets in less developed countries and outlines the progression necessary to move from a "repressed" to an open economy. New to this edition are chapters that contrast the gradual Chinese approach to liberalizing domestic and foreign trade with the "big bang" approach followed by some Eastern European countries and republics of the former Soviet Union. Financial control and macroeconomic stability, McKinnon argues, are more critical to a successful transition than is any crash program to privatize state-owned industrial assets and the banking system.
Author: Rajib Bhattacharyya
Publisher: Emerald Publishing Limited
ISBN: 9781838670047
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.
Author: Edward Alden
Publisher: Rowman & Littlefield
ISBN: 1538109093
Category : Political Science
Languages : en
Pages : 269
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Book Description
*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.
Author: Lawrence B. Krause
Publisher: Univ of California Press
ISBN: 0520376234
Category : Business & Economics
Languages : en
Pages : 440
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Book Description
Economic growth in all developing countries is guided, and often accelerated, by generally intrusive policies implemented by governments intent on playing an active role in furthering development. As economies have grown and become more complex, however, even small market distortions are magnified, and the tendency is to rely more heavily on the market for continued growth. In this volume, leading experts in economic development examine the variety of issues that arise as governments in some of the newly industrializing countries of Southeast Asia, such as South Korea, Taiwan, and Singapore, grapple with this difficult process of liberalization. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1991.
Author: Michael Checchio
Publisher: Farrar, Straus, and Giroux
ISBN: 0312273975
Category : Travel
Languages : en
Pages : 236
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Book Description
Standing atop the wall of California, Michael Checchio decided to head out for Saline and Death Valley, the canyonlands of Arizona and Utah and the uplands of New Mexico. He would re-visit old haunts and explore new ones-and in so doing rediscover a world he thought he already knew. In Sundown Legends, Checchio offers up the American Southwest as a spiritual repository and source of inspiration. On his travels he talked to individuals whose imaginations have been shaped by the power of this desert landscape, including Ken Sleight, the Utah wilderness outfitter, who was the inspiration for a character in THE MONKEY WRENCH GANG and novlist John Nichols, author of the MILAGRO BEANFIELD WAR, who wandered into Taos in the late sixties and found a place to make his stand. Like Michael Wallis, Michael Checchio is a powerfully gifted writer who has created an intimate and lasting portrait of one of our last remaining wild places.
