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Author: Tobias Bidlingmaier
Publisher: Logos Verlag Berlin GmbH
ISBN: 3832526218
Category : Business & Economics
Languages : en
Pages : 162
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Book Description
The economies of developing countries today are highly integrated into world markets. Trade volumes in relation to the overall size of the economy are often much higher in developing countries than in industrial ones. The question that emerges from this trend is, "What impact does international trade have on economic growth and distribution in developing countries?" In order to answer this question the present study derives empirical testable hypotheses from theoretical models thereby bridging the existing gap between theory and empirical studies. A broad range of trade variables derived from a growth model incorporating features from the new growth theories suggest adeeperaY effects of trade on economic development that go beyond the standard "openness" correlations. Likewise, the simulation of a trade reform on goods and factor prices shows insightful results on welfare changes for various Thai household categories. The distributional impacts do not correspond with the simple dichotomy of the rich getting richer and the poor becoming poorer.
Author: Tobias Bidlingmaier
Publisher: Logos Verlag Berlin GmbH
ISBN: 3832526218
Category : Business & Economics
Languages : en
Pages : 162
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Book Description
The economies of developing countries today are highly integrated into world markets. Trade volumes in relation to the overall size of the economy are often much higher in developing countries than in industrial ones. The question that emerges from this trend is, "What impact does international trade have on economic growth and distribution in developing countries?" In order to answer this question the present study derives empirical testable hypotheses from theoretical models thereby bridging the existing gap between theory and empirical studies. A broad range of trade variables derived from a growth model incorporating features from the new growth theories suggest adeeperaY effects of trade on economic development that go beyond the standard "openness" correlations. Likewise, the simulation of a trade reform on goods and factor prices shows insightful results on welfare changes for various Thai household categories. The distributional impacts do not correspond with the simple dichotomy of the rich getting richer and the poor becoming poorer.
Author: Prabhakar, Akhilesh Chandra
Publisher: IGI Global
ISBN: 1799817326
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
Despite three decades of continuous globalization, transitional economies in many countries remain marginalized. In order to maximize the positive growth of employment creation opportunities in various sectors, including agriculture, existing patterns of long-run sustainable equilibrium relationships, technology transfers, and trade to promote export-led economic growth must be examined and identified. Regional Trade and Development Strategies in the Era of Globalization provides a comprehensive overview of globalization and regional initiative trends of trade and development through the examination of theoretical and practical experiences of their underpinning principles through approaches to overcome the obstacles of globalization and its positive and negative impacts on global trade and economic development. The content within this publication examines economic integration, foreign investment, and financial risk. It is designed for trade specialists, government officials, students, researchers, policymakers, business professionals, academicians, and economists.
Author: Olivier Cattaneo
Publisher: World Bank Publications
ISBN: 082138354X
Category : Political Science
Languages : en
Pages : 388
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Book Description
The services sector is key to economic growth, competitiveness, and poverty alleviation. Comprising more than two-thirds of the world economy, services are now commonly traded across borders, helped by technological progress and the increased mobility of persons. In recent years, a number of developing countries have looked at trade in services as a means to both respond to domestic supply shortages and to diversify and boost exports. Any country can tap into the trade potential of services, but not every country can become a services hub across sectors. The opening of the services sector potentially comes with large benefits, but also fears and costs that should not be overlooked. This book provides useful guidelines for the assessment of a country s trade potential, and a roadmap for successful opening and export promotion in select services sectors. It looks at both the effects of increased imports and exports, and provides concrete examples of developing country approaches that have either succeeded or failed to maximize the benefits and minimize the risks of opening. It focuses on sectors that have been rarely analyzed through the trade lens, and/or have a fast growing trade potential for developing countries. These sectors are: accounting, construction, distribution, engineering, environmental, health, information technology, and legal services. This book is designed for non-trade specialists to understand how trade can help improve access to key services in developing countries, and for trade specialists to understand the specific characteristics of each individual sector. It will be a useful tool for governments to design successful trade opening or promotion strategies, and for the private sector and consumers to advocate sound domestic policy reforms accompanying an offensive trade agenda.
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: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya
Publisher: IJOPEC Publication
ISBN: 1999703502
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
The growth paradigm or the economic growth generally been presented as a positive, limitless and good for social problems. The term was hardly touched in pre-capitalism by any academic research. With the rise of capitalism and industrial revolution it became an important tool to measure production quantitatively and qualitatively. Industrialisation also encouraged the expansion of trade and gradual breakdown of the pre-capitalist order in 18th century in Britain. The spread of market had facilitated the specialisation, encouraging division of labour. Whilst for The Classical Political Economists; Adam Smith, David Ricardo and Thomas Malthus; economic growth is self-reinforcing. Marx pointed out importance of forces and relations of production and significance of social classes within it (Marx, 1863). Smith, Ricardo and Malthus were writing at a time when capitalist development was expanding fast and growth was a central in the process. The gradual impact of the West on the rest of world became part of a wider process of change in the World Economy. European capital increased its domination of the world trade through expansionist commercial policies (Wallerstein, 1979). The economic growth encouraged commerce. The necessity to export, and other technological changes formed part of the reason for the decline of feudalism. This transition from feudalism to capitalism began in the West and soon made an impact on the rest of the World. T Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya (Development & Growth: Economic Impacts of Globalization) 12 In 1932 Simon Kuznets, the US economist identified Gross Domestic Product (GDP) to measure the national output of a country within a period. It has continued to be an important indicator to measure economic growth, but it has also been under considerable criticisms. For example; GDP treats resources as income without excluding depletion or depression of the resources. Moreover, GDP has been criticised for disregarding income distribution. Despite all the criticism, GDP has been the most significant indicator of growth and development. With the Post War-II reconstruction of devastated countries and in order to kick-start the World Economy, the state in both developed and developing counties became the important agency to facilitate economic growth. The establishment of the Bretton Woods institutions, the Keynesian model of government intervention and the US implementation of “New Deal” facilitated growth. This was deliberate strategy to reconstruct and create networks of international cooperation. This was pointed out by President Truman in 1949: A program of development based on the concepts of democratic fair-dealing. All countries, including our own, will greatly benefit from a constructive program for the better use of the World's human and natural resources (Truman, 1949). This meant the reinforcement and need to distribute the 'Benefits' of capitalist form of development, more widely, against the planned economy sustained by the Soviet Union. The economist such as Joseph Schumpeter pointed to the possibility that capitalist growth, if it is sustained, could abolish poverty (Schumpeter, 1954, pp66-68). Whilst development meant rapid industrialisation, GDP became a key policy objective for the policy makers and governments around the world, not just in the Soviet Union but the Western Capitalist World, to set targets for their Growth Rate. The end of the Cold War in the 1980s, for some, meant triumph of Neoliberal Capitalism. The others talked of trade liberalization; free movement of capital and the development of information technology, facilitating the relocation of businesses across the world. (Ohmae, 1995). Friedman suggested that globalization is the Inevitable; Integration of markets, nation-states and technologies ... enabling individuals, corporations and nation-states, to reach around the world farther, faster, deeper and cheaper than ever before (Friedman, 1999). Development & Growth: Economic Impact of Globalization (Edited by: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya) 13 Francis Fukuyama (1992) suggested the new era as ‘The End of History’ through which the ‘Liberal Idea’ triumphed, leading to a new global hegemony. For Fukuyama the only route to modernity, growth and development is the Neo-liberal Democratic path under Global Capitalism. This optimism was not shared by all academics, as Globalization produced poor growth and polarization of wealth: what Collier terms the ‘Bottom one Billion’ (2008). As a result, there has been major criticism of the World Bank and the International Monetary Funds in the second half of the 1990s, especially with the Asian financial and economic crises. The response from these institutions has been vigorous. They continued to believe that liberalization, deregulation, and privatization represent the best way forward for growth and development. With 2008 world recession the World Economy has faced a new challenge. The emergence of powerful economies such as; China, India and Brazil; helped the world economy to grow, at least for now. However, the unevenness of the world economy continues to cause difficulties especially the US as they feeling the threat of their competitors such as China, Germany and even India. The victory of Donald Trump as the S President has represented an ideological shift from free trade advocator of global capitalism to a mixture of right-wing populism. Before and after the presidential election, he called for the revival of the American economy, which has been under considerable pressure since 2008 World Recession. In order to prove growth rate Trump has a huge challenge ahead, not least to deal with the competition from South East Asian economies, especially China. It remains to be seen whether the new US administration will continue with their populist rhetoric In this book, “Economic Impacts of Globalization: Growth & Development”, several academicians provide different analysis of economic growth and economic development. The scientific ethics and responsibility of the works in the book belong to the authors / writers. The book compromises of 15 chapters focusing on economic growth and economic development in the era of globalisation. By taking different angles, they demonstrate different problems and solutions.
Author: Anne O. Krueger
Publisher: International Monetary Fund
ISBN: 145184493X
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
This survey of the recent literature asks: how important is trade policy for poverty reduction? We consider the effects of openness on poverty in two components: the effect of openness on average income growth, and the effect on distribution for a given growth rate. Evidence from a variety of sources (cross-country and panel growth regressions, industry and firm-level research, and case studies) supports the view that trade openness contributes greatly to growth. Moreover, trade openness does not have systematic effects on the poor beyond its effect on overall growth. Trade policy is only one of many determinants of growth and poverty reduction. Trade openness has important positive spillovers on other aspects of reform, however, so that the correlation of trade with other pro-reform policies speaks to the advantages of making openness a primary part of the reform package.
Author: David Colman
Publisher: Rowman & Littlefield
ISBN: 9780389205500
Category : Business & Economics
Languages : en
Pages : 462
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Book Description
The comprehensive range of topics includes: the concept and measurement of development; economic theory and development; economic quality and development; human resource development; international trade; foreign exchange flows and indebtedness; agricultural transformation and development; industrial development; the transnational corporation; the transformation of technology; inflation; stabilization and the IMF. A classic book modernized for contemporary study.
Author: J. F. J. Toye
Publisher: Edward Elgar Publishing
ISBN: 1843767473
Category : Political Science
Languages : en
Pages : 327
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Book Description
The essays are of high quality and full of interesting details, which is not a surprise given the distinguished group of scholars that contributed. . . this is an impressive collection of essays that adds significantly to the discussion of policies for developing countries in the context of globalization. I would strongly recommend it to academics and students interested in development, as well as policymakers in developing countries. Ricardo A. López, Journal of International Development This book questions what enduring lessons have been learnt about the interdependence of international trade and economic development during the last 50 years. Since the end of the Cold War and the advent of the WTO, developing countries have been forced to face the choice of whether, and to what extent, to integrate economically with the rest of the world. The key issue of international political economy is emphasized. The authors argue that while integration through trade has become increasingly necessary for successful development, it rapidly encounters a series of problems that remain to be resolved. These range from increasing inequality and instability, the vagaries of WTO rules, persistent agricultural protection in developed countries, through to inadequate finance and new waves of technological innovation. Underlying all these concerns, however, is the deeper question of how much the developing countries can influence the setting of the rules of the international system. Trade and Development examines all the major topics in the area of trade and development, along with proposals for new directions for UNCTAD. The book will be of great interest to academics, researchers, NGOs and policymakers involved in international and development economics.
Author: Gottfried Haberler
Publisher: ICS Press
ISBN:
Category : Commerce
Languages : en
Pages : 148
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Book Description
Author: Paul Brenton
Publisher: World Scientific
ISBN: 9814603392
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
International Trade, Distribution and Development brings together a collection of papers that have sought to assess empirically the impacts of policy measures affecting trade. The carefully selected papers analyze the impact of trade barriers and their removal, with a focus on distributional consequences and economic development.Grounded in rigorous empirical analysis, this book covers a range of policy issues such as impacts of trade on wages, non-tariff barriers, trade preferences, export survival and carbon labelling. An invaluable reference for readers seeking to understand the impact of trade policies, the book also seeks to shed light on future research, especially for research on developing countries.
