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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: 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: H. Aydin Okuyan
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Purpose - The purpose of this paper is to investigate the relationship between trade openness and economic growth in developing countries. Under this aim, the co-integration relationship between trade openness and economic growth of 17 developing countries is examined without relying on data stationarity.Design/methodology/approach - The co-integration relationship between trade openness and economic growth is analyzed by Bounds testing approach developed by Pesaran et al. In addition to this, the causality relationship is tested by causality analysis developed by Toda and Yamamoto.Findings - According to the Bounds test results, co-integration relationship has been detected for six countries and long-term coefficients among the variables have been found positive and statistically significant. According to the Toda and Yamamoto causality analysis, causality has been detected for eight countries. In four of these, the direction of causality is from trade openness to economic growth and in the other four, vice versa.Originality/value - The methodology employed provides an alternative framework for examining relationship among economic variables. The paper shows how to create co-integration and causality tests without relying on data stationarity, which is a major problem in time series of economic variables. On the empirical side, it adds new empirical results into the literature in the name of identification of relationship between trade openness and economic growth in developing countries.
Author: Marilyne Huchet-Bourdon
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Empirical results on the links between trade openness and economic growth often suggest that, in the long run, more outward-oriented countries register better economic growth. However, a similar level of trade openness can hide different types of trade structures. The aim of this paper was to enrich the way of measuring trade openness taking into account two different dimensions of countries' integration in world trade: export quality and export variety. Based on the estimation of an endogenous growth model on a panel of 169 countries between 1988 and 2014 using a generalised method of moments estimator, our results confirm that countries exporting higher quality products and new varieties grow more rapidly. More importantly, we find a non-linear pattern between the export ratio and the quality of the export basket, suggesting that openness to trade may impact growth negatively for countries which are specialised in low-quality products. A non-linear relationship between export variety, the export ratio and growth is also found, suggesting that countries increasing their exports will grow more rapidly after reaching a certain degree of the extensive margin of exports.
Author: Rajeh Alragas
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
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Book Description
This paper examines the impact of trade openness on economic growth using a new measure of trade openness proposed by Squalli1 and Wilson (2011). In contrast to the vast majority of the existing literature, the new measure of trade openness accounts for not only the country trade share of its GDP but also the relative size of the country's trade compared to the world trade in a given year. Using this innovative way to measure openness, the current essay examines the impact of trade openness on economic growth. We use data set includes 182 countries and covers the period from 1971 to 2011. We employ the Common Correlated Effects Mean Group (CCEMG) estimator developed by Pesaran (2006) and applied Cavalcanti et al. (2011) which takes into consideration the heterogeneity nature of world countries.
Author: Giovanni Peri
Publisher: World Scientific Publishing Company
ISBN: 9814719900
Category : Business & Economics
Languages : en
Pages : 438
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Book Description
The Economics of International Migration is a collection of the fundamental articles written by Giovanni Peri on the economic determinants and consequences of international migration. These papers have provided the theoretical framework and empirical analysis for a rethinking of the economics of migration, going beyond the Canonical model of labor demand and supply used until the 1990s. Beginning with a simple model that recognizes the differences between immigrants and natives as workers, the articles develop the analysis of complementarity, specialization and productivity effect of immigrants in developed economies. The book then presents a series of papers analyzing and testing the economic motivation for international migration. Finally, the focus is shifted to the effect of immigration policies and their consequences on immigration and the economy.
Author: Ann E. Harrison
Publisher: World Bank Publications
ISBN:
Category : Economic development
Languages : en
Pages : 39
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Book Description
Correlations across openness measures are sometimes weak, but openness does seem to be positively associated with GDP growth - the more open the economy, the higher the growth.
Author:
Publisher:
ISBN:
Category : International economic relations
Languages : en
Pages : 330
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Book Description
Author: Halit Yanikkaya
Publisher: LAP Lambert Academic Publishing
ISBN: 9783838311777
Category :
Languages : en
Pages : 144
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Book Description
Do open economies grow faster than closed economies? Almost all empirical studies have provided an affirmative answer to this question. It is, however, very difficult to understand this unconditional optimism in favor of liberalization among the economics profession and in policy circles. Theoretical studies suggest at best a very complex and an ambiguous relationship between restrictions on capital and trade flows and growth. The fact that empirical studies also describe openness very differently makes the classification of countries according to their level of openness a formidable task. Our estimation results for trade and capital flows are generally consistent with the existing empirical and theoretical studies. However, the estimation results for trade barriers challenge the conventional view on the issue that trade barriers are negatively and significantly associated with growth, but they are consistent with findings of theoretical growth and development literature. Thus, we show that openness does not have a simple and straightforward relationship with growth. Rather this relationship largely depends on certain country characteristics such as its size and development level.
Author: Monojit Chatterji
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Arvind Panagariya
Publisher: Oxford University Press
ISBN: 0190914505
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
Arguments for protection and against free trade have seen a revival in developed countries such as the United States and Great Britain as well as developing countries such as India. Given the clear benefits trade openness has brought everywhere, this is a surprising development. The benefits of free trade are especially great for emerging market economies. FreeÂTrade and ProsperityÂoffers the first full-scale defense of pro-free-trade policies with developing countries at its center. Arvind Panagariya, a professor at Columbia University and former top economic advisor to the government of India, supplies a historically informed analysis of many longstanding but flawed arguments for protection. He starts with an insightful overview of the positive case for free trade, and then closely examines the various contentions of protectionists. One protectionist argument is that "infant" industries need time to grow and become competitive, and thus should be sheltered. Other arguments are that emerging markets are especially prone to coordination failures, they are in need of diversification of their production structures, and they suffer from market imperfections. The panoply of protectionist arguments, including those for import substitution industrialization, fails when subject to close logical and empirical scrutiny. Free trade and outward-oriented policies are preconditions to both sustained rapid growth and poverty alleviation in developing countries. Panagariya provides compelling evidence demonstrating the failures of protectionism and the promise of free trade using detailed case studies of successful countries such as Singapore, Taiwan, South Korea, China and India. Low or declining barriers to free trade and high or rising shares of trade in total income have been key elements in the sustained rapid growth and poverty alleviation in these countries and many others. Free trade is like oxygen: the benefits are ubiquitous and not noticed until they are no longer there. This important book is an essential reminder of the costs of protectionism.
