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![Trade and Economic Development in Small Open Economies [microform] : the Case of the Caribbean Countries PDF](https://books.google.com/books/content/images/frontcover/BHblvgEACAAJ?fife=w150-h200)
Author: Arnold Meredith McIntyre
Publisher: National Library of Canada = Bibliothèque nationale du Canada
ISBN: 9780315738041
Category : Caribbean Area
Languages : en
Pages : 286
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Author: Arnold Meredith McIntyre
Publisher:
ISBN:
Category :
Languages : en
Pages : 572
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Book Description
![Trade and Economic Development in Small Open Economies [microform] : the Case of the Caribbean Countries PDF](https://books.google.com/books/content/images/frontcover/BHblvgEACAAJ?fife=w80-h100)
Author: Arnold Meredith McIntyre
Publisher: National Library of Canada = Bibliothèque nationale du Canada
ISBN: 9780315738041
Category : Caribbean Area
Languages : en
Pages : 286
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Author: Ronald Findlay
Publisher: World Bank Publications
ISBN: 9780195208801
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Mauritius, a multiethnic society, has turned to manufactured exports and tourism as an alternative to reliance on sugar production. Malta overcame the shock of losing a British naval base and has grown rapidly.
Author: DeLisle Worrell
Publisher: Taylor & Francis
ISBN: 1000824543
Category : Political Science
Languages : en
Pages : 391
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Book Description
This book analyses and explains the nature of the economies of small countries and territories. It includes an assessment of material prosperity in 41 small open economies worldwide, with case studies focusing on the Caribbean and Central America, with a review of the development of their economies in recent decades. The volume recommends a suite of economic policy tools for the management of these economies, demonstrating how these may best be employed in economies that live and breathe through international commerce. Among observations of interest is the fact that the devaluation of the local currency of a small nation makes the country worse off; even a currency that maintains its value is little more than a trophy, of little value if it is not readily convertible into US dollars. Also, that while government policies affect international competitiveness and a small country's growth prospects, more important is how governments use additional resources to improve the quality of health and educational services. Moreover, economic windfalls such as the discovery of mineral resources seldom bring prosperity commensurate with their economic value, and never in the short run. The volume will offer invaluable information and analysis to researchers and policy makers investigating small open economies.
Author: Arnold Mcintyre
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
The overall economic performance of Caribbean countries has declined markedly in recent times. The weak export performance of these trade-oriented economies is highlighted as the principal factor responsible for the economic deterioration. The author attempts to identify the major determinants of their export performance. Two alternative approaches to this issue are adopted, the Feder model and an alternate, which suggests the important nexus between foreign exchange, needed imports and exports. The role of government institutions and their influence on exchange rates are also analyzed. Scholars in economic development, Latin America, as well as international financial institutions will find this comprehensive study on the English speaking Caribbean countries of Jamaica, Trinidad and Tobago, and Barbados a useful tool.
Author: István Kónya
Publisher: Springer
ISBN: 3319693174
Category : Political Science
Languages : en
Pages : 215
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Book Description
This book studies the economic growth and development of four Visegrad economies (Czech Republic, Hungary, Poland and Slovakia) between 1995-2014. The author uses a neoclassical growth model with distortions (wedges) to identify the main sources of economic growth for each of these countries including employment, human capital, capital accumulation and TFP growth. The first part of the book is structured around the concept of production function, factor inputs and growth accounting, and the second part of the book looks at selected problems related to economic developments of the analysed countries. This book combines empirical facts, data analysis and macroeconomic modelling and will appeal to those interested in convergence and growth in general, and analysts and researchers studying the Visegrad countries in particular.
Author: Thomas Fox Rutherford
Publisher: World Bank Publications
ISBN:
Category : Developing countries
Languages : en
Pages : 54
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Book Description
September 1998 Although trade liberalization has been linked econometrically and through casual empiricism to large income increases, attempts to quantify its impact in static simulation models have shown estimated gains. This paper shows that when the endogenous dynamic effects of trade liberalization are built into simulation models, the estimated gains are indeed very large. But complementary regulatory, financial market, and macroeconomic reforms are important to realize the largest gains. Rutherford and Tarr develop a numerical endogenous growth model approximating an infinite horizon, which allows them to investigate the relationship between trade liberalization and economic growth. Economic theory generally implies that trade liberalization will improve economic growth, and the two phenomena are positively correlated in empirical tests, but the connection is not well-substantiated in numerical general equilibrium models. In the authors' model, an intermediate input affects aggregate output through a Dixit-Stiglitz function. Additional varieties provide the engine of growth in this framework and the existence of this mechanism magnifies the welfare costs. In this model with lump sum revenue replacement, reducing a tariff from 20 percent to 10 percent produces a welfare increase (in terms of Hicksian equivalent variation over the infinite horizon) of 10.7 percent of the present value of consumption in their central model, where the economy is assumed to be unable to borrow on international financial markets. If macroeconomic and financial reforms are in place that would allow international borrowing, however, the same tariff cut is estimated to result in a 37 percent increase in Hicksian equivalent variation. On the other hand, if inefficient replacement taxes must be used in an economy without the capacity to borrow internationally, the gains would be reduced to 4.7 percent. Larger tariff cuts-typical of those in many developing countries over the past 30 years-produce larger estimated welfare gains at least proportionate to the size of the cut. The authors apply the model to five developing countries and estimate the impact of the tariff changes those countries plan to undertake as part of Uruguay Round commitments. Because of the dynamic effects, estimated gains are considerably larger than those found in the literature on the impact of the Uruguay Round. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to assess the impact of trade and investment on economic growth. The study was funded by the Bank's Research Support Budget under the research project The Dynamic Impact of Trade Liberalization in Developing Countries (RPO 681-40). David Tarr may be contacted at
[email protected].
Author: Karl-Josef Koch
Publisher:
ISBN: 9783662004241
Category :
Languages : en
Pages : 412
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Author: Daniel Lederman
Publisher: World Bank Publications
ISBN: 1464810435
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.
Author: Stephen J. Turnovsky
Publisher: Cambridge University Press
ISBN: 0521764750
Category : Business & Economics
Languages : en
Pages : 255
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Book Description
An investigation of the process of economic growth in a small open economy by one of the world's leading economists.
